Ouch that does seem excessive!!

If you see the commercials on telly you get the distinct impression you can get into an inner city apartment for as little as $245k (avg $375k).

I had a friend renting a 2brm/2bath/1car apartment in a building called Cathedral Place in fortitude valley. The rent was $280 p/w and this building was pretty flash.

I think the commentators in Brizzy are saying to steer clear of apartments in the city as so many are in the process of being built.

i think the developers are trying it on alright.

Hi Hux001

Yep there certainly has been a buying frenzy in NZ.

I come from a town called Palmerston North. this a university town in the lower north island.
I’ve been living in SE QLD since the start of 2000 and when i got here i couldn’t believe how cheap houses were here in brizzy compared to my home town of 80,000 residents. As i saved for a place that all started to change, i got into the market by the start of 2002…luckly.

My parents being property investors in NZ since the early ninties have seen their property portfolio double in value, while the rent in the areas they brought into has remained largely unchanged. They sold one place that needed some work and made a profit that worked out to about 18% p/a on their initial deposit.

Since that sale in 2002 they have sat on the sidelines and watched the market go crazy. There were cashflow positive properties in popular areas when my parents started hunting around but now they cannot find anything that suits their conservative investor profile even in regional areas.

So they wait…

Yay my first post![strum]