Hi Gail

i think the best way is to ask as many property managers in a town. I always ask how many properties do they have vacant at the moment and if they are vacant why are they vacant and how long have they been vacant for. I deal with a lot of property managers and i find them to be very honest with there side of the market.
I suppose you can always ring up as if you are a potential tenant to find out how many vacant homes there are, but i like the honest approach and find it usually works.
Statistics are useful but the professional property manager is a wealth of valuable information, make them your friend.

regards westan

Hi all

Bill your comments are always welcome, if you recall it was not your opinions that got you into hot water. Feel free to say whatever you wish on the forum, but remember if we disagree we are also free to challenge your veiws.
On what grounds do you feel NZ will lead to many loosing there shirts ? Do you have any knowledge of the NZ market ?
I’m sure many will and are making mistakes in NZ, i get out bid by aussies who are buying over the net, site unseen, who are paying thousands more than needed to buy. But on the positive side if you buy homes in good areas that are returning 10-12% i’d feel a lot more secure than having a property returning 3% thats not going up for a long time. No i feel it is those who are buying in Australia today who are putting themselves at a higher risk.

Just to settle the record straight you were not the only one saying the market would soften in australia, many on this forum were saying the same thing. Some such as myself made it very public around July last year that i was starting to sell some of my Australian properties as i felt the prices i could get for them was way more than i’d pay for them. I also mentioned that i’d be taking my money to NZ to invest, i’m more than happy with my decision. I still own 11 properties in OZ (and 20 in NZ)and i will in the next financial year (a few days away) start to sell some more, with this money i will continue to buy more in NZ. Who knows you maybe right i could be one who will lose my shirt, but i’m still finding good deals often, unlike in Australia where i haven’t bought since July 2003.

regards westan

Hi Nguyent

it is hard to give you anything helpful but some comments for you. The Govt figures aren’t always accurate. For instance the Govt said Hobart would decline in population however it is actually starting to grow. However you do need to be careful with smaller towns and everyone is different. if its in Vic or SA PM me and i’ll see if i can add some extra insight , (you don’t want to post on the forum where it is as it could create too much competition.
I’d start by talking to independant property managers in the town and ask about the rental demand and price. also go to the town and find out what is happening locally.
I think there are still opportunities if you are careful

regards westan

Hi james

firstly every thing you read has a bias. It is near impossible to not be.

Anyway lets look at your question.
Firstly i can’t see how on earth you ask the question will NZ property burst from that graph ????

Secondly yes NZ has had a great year with property rises 22% on the year till March the best in the world apparently.
However these are on the back of doing nothing for the past 5 years (don’t have my figure with me) Look at the Australian market prices have been rising buy 20% for the past 4 year each year (just an educated guesstamate). I believe australia is up 113% on the past 7 year.
Living in NZ i can’t see the market busting here, we are still in the rising stages of a boom and we have not seen the property hyseria that Oz has seen. Yeilds are still a health 6-10% in most cities so it still looks attractive.
So my thoughs are the NZ property market will keep going up (maybe not across the board).
As i started with it is near impossible to be unbiased, i’m still selling in Australia and buying in NZ settle on 2 properties tomorrow.

hope this helps
regards westan

Hi Muppet

as usual you have all the info,

i suppose being a dentist or for that matter a university student doesn’t disqualify you for finding good deals.

regards westan

Hi Hux001

i know the games was a few week ago but i spoke to my brother last night (he’s buying his first NZ IP) anyway he and his 13 year old son had a great nite , pity about the result , he loved to Medallion Room, a real treat for him

regards westan

Hi all

i am of the opinion that they charge way too much for there deals which look average from what i see. Can anyone confirm or deny they use university students to find there deals ???
Mini is that true there contracts are unconditional ? WOW what is risk for everyone involved.
regards westan

Hi Recoveryman

a friend of my brothers is staying with my brother at the moment comes from Geraldton if you want any local knowledge give me a call

regards westan

Hi ken

i reckon that knowledge is essential but the whole process can be short tracked. I’m a big fan of R.K. he has helped me (not personally but through his books) push my self look for opportunities and most importantly think in a new way.

I’m all for learning and doing things quickly but safely

regards westan

Hi del

i’m selling my properties, ones that are only returning 8% are getting dumped. Obviously when i bought them they were returning better than 8%. But the way i see it is i wouldn’t be buying them with only 8% return so should i hold on to them ? no i say. So i’ll take the money and reinvest elsewhere , somewhere where i can get capital growth and cash flow. I know a lot of people say never sell, but if you sell and reinvest in a better deal isn’t that a smarter thing to do ?

all the best with your decision.

regards westan