All Topics / Overseas Deals / BOUGHT 2 x NZ PROPERTY – WHAT NEXT
G’Day team,
I’ve been told the Hawkes Bay region is ‘taking off’ or is it the Tauranga area? or the Coromandle peninsular? any way it seems some little pockets [biggrin]are becomming too expensive, or so i’ve been told anyway..
Cheers
There was a big property article in last Thursday’s Hawkes Bay Today (Jan 13) and it focused on the boom we’re experiencing at the moment, i.e. median house prices were $110K in March 2001 and had jumped to $195K by March 2004 and were at a record $236,500 in December 2004.
Rents and wages aren’t keeping up with these prices, and unless you’re buying in the less desireable areas of Hawke’s Bay it’s not possible to show a positive cashflow. That said, you CAN still buy the odd rundown $25K fixer-upper in Hawkes Bay that will show a +cashflow (IF you can keep it tenanted), but do you really want the Mob for neighbours?
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