Hi , Just wondering on peoples thoughts about Invercargill do you think the propertys will keep heading up in price or do you think it will stay the same or go down??…I have a property in Appleby and i am thinking of selling it….Has any one sold a House in New Zealand that lives in Australia what is the best way of getting your money out of the country how much will the government take of my Profits…has anyone had any experiences they would like to share thank you in advance
Hi Kristine,I live in oz and had a number of properties in NZ, sold them all a year ago. One of my properties was in Invercargill (such a lovely place)a nd did very well from the investment. My whole experience with NZ investing was very rewarding, buy through to sell.In relation to selling and getting money out, no trouble, in fact I find the NZ system of buying and selling so much better that OZ. Anyway, now is a good time to get your money back to oz, exchange rate is better than when I sold my last property.Regarding your issue with the government, I can't see your concern, it's the same as if your were in oz. You just can't get around paying taxes, other that illegal operations of course, so done get hung up about it. The way I see it it's not your money so just pay it and sleep easy.Good luckGeoffBohhh no i will not lose sleep and i will pay tax but i was just wondering do we pay a double tax 1 in nz then another here??
so you dont think there is any more growth to be had in Invercargill?Kristine,
You would only pay tax once between oz and NZ on a property transaction, contact your accountant to get a clearer picture of the processes involved.Regarding Invercargill growth, sorry I left that market more than a year ago and not up to date with the property climate there.
Good luck
Cheers,
GeoffBKieran Trass has a site called subrubwatch.co.nz . There is a link to it on my site purely because it is a great resource. He was very recently quoted in the New Zealand herald sighting invercargill as a 2008 hotspot – there is a free list of some other areas that are areas to watch for this year as well. Basically anywhere with serious economic ties with dairy farming is worth researching – the applby area is one that i personally did not invest in (which goes to show how your own predjudices can work against you) but it is going through a second boom right now.
One if the larger developers has a resource consent in for 600 house lots further over in the tramway rd area. There are some details at icc.govt.co.nz – we tried to get some land near there but just missed out.
I agree with Don and Liz… The above post….. Dairy is having some heavy development in some areas and Invercargill is having a large number of dairy units opening up there ….. Fonterra were pushing tankers and drivers down there just to cope with the workload….. (I did a part time season toward the end of last year… and got the goss in the transport areas…) although do your own diligence….. would be my best suggestion.
cheers,
Kiwi
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