Forum Replies Created
Hi Guys
Yeap be real neat to meet you all. School holidays start on the 20 Sept so I will be on holiday for two weeks and will be able to meet you all.I live between Taumarunui and Te Kuiti at a place called Waimiha. We have a few spare beds if needed.Wairoa boasts a freezing works and services a large farming area. It is situated about 117kms from Napier and 100kms from Gisborne. I lived near there a few years ago.
Don’t forget Dannevirke. I see Richmastery have just listed a place there.
I am off to a town starting with T, tomorrow. The bank has given me prior approval for $150 so I’ll be looking in earnest now.
Fixed interest rates have gone up again damn it. I’ll have to rework my figures again.
Regards
Hi Westan
No. Plenty of room for both of you. It will be good to talk to someone with like ideas on investing.
Remember that week you will be in NZ is the first week of the Sept holidays so there will be alot of children around the place.
My email address is [email protected] if you want to contact me.Regards
BobHi Westan
Sounds like a good idea.Even have a spare bed if wanted.
RegardsHi Guys
No GST is payable if buying residential property in NZ.
If you are buying a farm it is though.
RegardsHi Steve
What us forumites in New Zealand getting a copy?Regards
Hi Westan
Oh well we can’t win Lotto everyday. Roll on the Rugby World Cup.
The King Country is an area in the central North Island. The main two towns are Taumarunui (pop about 4500) and Te Kuiti (pop about 5500).
The best skiing in NZ (ha ha) is only about 50kms from Taumarunui on Mt Ruapehu. I am taking my school there next week costing the kids about $12 each for the day skiing.
Lake Taupo which has the best trout fishing in the world is also only about 50kms away as well.
Deer stalking and pig hunting is also to be found not far away.
Taumarunui has a high unemployment rate. Houses rent for about $80-$120 a week.
Ask Mini how she is doing with her house?
I noticed this week for the first time a Prop Man advertising for tenants in Taumarunui. Not sure what this means though.
Another small country town to consider is Taihape.
Then there is Otorohanga about 60kms south of Hamilton. And there is Te Awamutu just south of Hamilton.
There are alot of small towns in the Waikato of which Hamilton is the biggest.
Hamilton has a pop of about 140000 but alot of building is going on there.
Just north of Hamilton is Ngaruawahia which basically is an outlying suburb of Hamilton.To research the houses that are available in these places use http://www.realenz.co.nz. 40000 houses for sale in NZ are listed on this site and nearly all the big Estate Agents use it.
Regards
Hi Guys
Hell that quick. Sitting here and thinking about places to buy in, I have a comment for Tamara in regards to Huntly. You are correct in what you say about it hi unemployment etc. However my thoughts on the new motorway bypassing Huntly is that in time Huntly will become an outer suburb of Auckalnd because the new road will allow quick travel between the two places. This will mean that places in Huntly will appreciate in value.Other suburbs for all you others to consider include Te Puke just outside Tauranga and the Mount.
Mini has already suggested Marton.
Opotiki further along the coast from Whakatane I have heard is already starting to attract attention.
Palmerston North has also been mentioned. This city has Massey University in its midst. Hence it has a large student population.
Another point to consider is that the incidence of home ownership in NZ is going down. About 33% of NZers now rent.
Dannevirke is another place that has reasonably cheap houses
Consider also that these small towns have their good and bad streets/areas and this affects prices paid and rents that can be charged.
Keep the comments coming and if I can I’ll think up something else to say.
Regards
Hi Guys
For interest rates in NZ check out the http://www.interest.co.nz/mortgages.html site.This site is updated everyday and you can contact the lenders directly. My last house bought in Jan cost me about NZ$1300 in lawyers fees. That was a house in Manuwera, South Auckland.Cost $160000 and the tenant is paying $270 per week.I do have a Property Manager looking after it as I live in the King Country about 250kms away.
Remember four of the major banks in NZ are Australian offshoots.
I use a mortgage broker to source my loans for me.Hey Westan those Lotto numbers you posted last week were hopeless. I saved my $5.
Regards
Hi Guys
Here is the email address of my account who has his main office in Napier. I think he also has interests in Australia. He may be able to help those of you who have queries about investing in NZ and the tax implications etc.
[email protected].
He also has a web site but I can’t remember what it is.
RegardsHi Guys
You tell me the winning numbers for Lotto for next Saturday and I’ll tell you if the market is going to burst.
Regards.Hi guys
The Reserve Bank in NZ has just cut its interest rates to 5%. A drop of 0.25%. The five big banks have increased there fixed mortgage rates by about 0.25% this week. However there is an expectation that floating rates will drop.
All of this is good news for homeowners.
I expect prices in NZ to continue increasing.
Remember people have/want to live somewhere therefore they will have to pay the price.Regards
Hi Mini
Glad to be of help. I hope that it works out well.
Wife had a look through some houses in Tokoroa today. She is quite enthused about a couple of them. Just waiting for the mortgage broker to get back to me.
RegardsHi Mini
I noticed that this morning’s Ruapehu Press had only one house To Let in Taumarunui and it was at $125 per week. So things may be looking up.
Also someone wants a 3 bedroom house for long term
rent email [email protected].Hi Mini
Thanks for the rap. No I am not in Tokoroa. In fact I live in a little town of about 30 people about 40kms from Taumarunui(pop 3000) where there are a number of $25000 houses rent about $100-$120 per week.Te Kuiti is also a nice little town close by. It has two freezing works and a hospital plus it services a large farming area.
I’m looking in Tokoroa in the $50-$70000 bracket. These houses are still + cashflow even on a P&I. This way will give me CG long term.
The PMs I talked too all had waiting lists of tenants for houses.So there shouldn’t be much trouble getting tenants.I”ll be sending the wife over on Wednesday to have a look in the houses I’ve short listed.
Regards
Hi Guys
I’ve been watching this fascinating topic of investing in NZ with much interest for quite awhile.
I’ve recently sold a property in Napier and made a good CG on a negatively geared poperty. I am now looking with interest in some of the central North Island towns which are much cheaper to buy in, have low CG at the moment but show very good + cash flow.
In one town of about 12500 people I am looking at, had in June its best sales month ever. The 3 RE agents sold about 70 properties to a variety of people. They included investors from Australia, Greece and the USA.
Some of these properties were sourced through http://www.richmastery.com.
However in today’s NZ Herald an item of news mentioned that up to 150 people in this town could be made redundant in the next few weeks as there has been a big downturn in the forestry industry in the North Island.
However as one of the RE agents said people were moving here because of the central North Island location, affordability and lifestyle.
NZ has no CG tax.
I use a mortgage broker to source money for me.
The Richmastery web site has alot of information regarding investing in NZ.
http://www.realenz.co.nz is a national listing site by all RE agents for property for sale in all areas of NZ.
I hope some of you find this information useful and if anyone wants further information just ask.
Regards
jym
