Waikato any good?

Hi Flyhigh

Welcome to the forum.

A number of forumites have property in Tokoroa or have dealt with property there.Wilandel, Minimogul, myself, RodC, Castledreamer to name a few.
At the moment I am looking to moving to Tokoroa at Xmas time and will occupy one of my rentals there.
Use the search function and carry out a search on Tokoroa.

Most of the high yield IPs have long since gone.eg the 25k house being rented for $120.

There is a shortage of property available by the very small numbers being advertised on the realenz site.

Rents generally range from $110 to about $150 per week depending on location and the quality of the house.(3 b/r) There are a large number of flats which generally rent out for about $90/wk.

The best locations to buy in are in the north and the southwest corner. However yields there are much lower than they are for houses in the central part of Tok.

The town has a fairly high unemployment rate when compared to the rest of NZ.The town is very dependent on the Carter Holt pulp mill at Kinleith and the cheese factory to the north of the town.

The town itself is on State Highway One and a large amount of traffic goes past.

There are three property managers in the town.
C21 Kathy Chappell 021 657 162 or 07 886 6005
Lamberton’s Sue Mercer 0274 806 814 or 07 886 8214
Harvey’s Peter Arthur 021 183 4304 or 07 886 8064

Regards

There seem to be a number of houses for sale in Huntly and from memory the new highway from Auckland will bypass the town.

Also I think there is a lot of leasehold land and you might be dealing with Tainui.

Jeff (ibuycashflow) has good knowledge of the area.

What about Ngarawhahia. South a bit and closer to Hamilton?

I remember Jeff saying there is an old coal station there and every time there are national power issues there is talk of starting it up again

Hamilton will have good growth prospects I’d reckon but you might struggle to find cash+ there.

Shawn

Why is it that there are so many houses for sale in Huntly ATM? What have you figured? And what about Ngarawhahia?

Shawn

CORRECTION!

I don’t have any properties in Tokoroa myself.

I was bird-dogging deals there earlier in the year when we were able to get 18 percent plus yields. At that time I think it was *great* buying and I am sure my clients would agree – especially as they would have had capital gains along with their high yields! Yeehah!

but now… prices have moved. And so yields are now less.

As we either like to offer our clients either high yields or CF+ve with capital gains potential (i.e. 10 percent plus, but in growth areas) –
and as wouldn’t want to buy somewhere at potentially ‘top dollar’ neither getting capital gains nor cashflow – and as I think that there are better areas elsewhere right now for cashflow – as well as better areasfor capital gains – I am not looking there right now other than a cursory glance now and then.

But the town isn’t going to die or anything – it’s large enough and it’s well positioned to absorb ‘action’ from the ever mushrooming Hamilton, which is itself well positioned to absorb ‘action’ from the ever-mushrooming Auckland….

I am still not saying you couldn’t find a good deal there, just that you won’t be competing with me for it!

– my two cents.

joy to the world

Hey Pursefattener

They must be talking about that Huntly Power Station again. The power station is actually operational but not the flashest. Anyway Genesis Energy is planning the development of a high efficiency combined cycle gas turbine power plant to be built on the exisiting Huntly site

http://www.genesisenergy.co.nz/genesis/generation/thermal-info/thermal-info_home.cfm

That should generate a few more jobs.

And as far as the by pass is concerned try calling into Pokeno just south of Auckland next time you pass through. It was bypassed and managed to survive. For a while they changed the towns name to jenniferann.com and now the town is known all over the world. Best bacon in the country too.

Hope this helps.

Cheers
Jeff