Hello to anyone in Christchurch or know Chch well
A friend of mine is looking at a property in Rollerston- new build - 4 bdrms 2 bath as a rental
Price around $560-$580K I think it was
Has been described to her as the Hobsonville of Auckland (but cheaper)
What is the likely capital appreciation and rental ability over the next 5-10 years
Any thoughts??
Looking at that one a Townhouse in Hamilton and a an 2 bdrm apartment in Hobsonville - all new
Christchurch rental propects
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15-11-2019, 05:39 PMJayChristchurch rental propects
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15-11-2019, 06:43 PMfungus puddingWhat is she hoping to achieve?Quote:
Originally Posted by Jay
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15-11-2019, 10:38 PMSBQ
Rolleston isn't really part of Christchurch but rather, more of a satellite town. They are not part of the city's district council, I believe part of the Selwyn District council.
Lots of people have moved out that way after the earthquakes as land is plentiful to build and quick and easy to move in. However, it's still a 30 minute commute into downtown Christchurch (40 mins in heavy traffic). Again, the 2 places are not really related as they're in different councils as Rolleston is a "township" and not a suburb. IMO, location location location is everything.
You won't catch me buying out there as it's way too risky when the NZ economy crashes. There's little rental prospect out there as it's not near any uni or college schooling. Unlike Auckland, even Christchurch real estate property is of no comparison as the figures are double. -
16-11-2019, 05:27 PMJay
FP Looking for capital gain over about 10 years primarily- cheaper option than other places - all prospects about cashflow neutral on figures given to her
SBQ - thanks for the info, will pass on -
16-11-2019, 05:37 PMfungus puddingCashflow neutral? What sort of rent do they anticipate getting ?Quote:
Originally Posted by Jay
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16-11-2019, 07:42 PMJay
Can't remember FP - also depends on how much she borrows - don't know her personal financial details, just asking about location really
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16-11-2019, 09:21 PMfungus puddingLots more information needed, but it sounds dreadful to me.Quote:
Originally Posted by Jay
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17-11-2019, 02:37 PMJay
FP from what she told me, she has all the info (financial) and allowed for being a bit over optimistic, just does not know the area
Each to their own -
18-11-2019, 09:11 AMartemis
Anyone considering buying or building a rental these days, especially if not experienced, should be doing the sums very very carefully and include a trenchant risk assessment in the calcs. Rules have been changing and more announced yesterday by Minister Faafoi. How many will survive a change of government, who knows, but there will eventually be a change.
The shadow housing minister (Ms Collins) is to announce National's housing policy shortly. Expect changes. -
18-11-2019, 10:46 AMSBQIf you're after tax free capital gain, look none other than Auckland real estate. If the last 10 or 20 years, you would be very wrong by buying elsewhere (of course you could be lucky buying in certain areas outside the big 3 cities?). Why? Because the metrics don't change in any country in that capital gain is always higher in the major cities at prime location than rural paces that are exposed to more risks caused by a change in the economy. For eg. look at the New Plymouth economy where mining an oil has been halted by Jacinda Ardern's pro-climate objective. To put $700K in a residential home in Rolleston ? I would much rather take that same amount and buy a 2 bedroom studio unit in Auckland's key prime areas, because after all if capital gain is all that matters, then all options must be considered.Quote:
Originally Posted by Jay
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22-01-2020, 01:22 PMCricketfan
What do you guys think about Halswell? e.g.
https://www.realestate.co.nz/3666487...-road-halswell
https://www.realestate.co.nz/3629930...erden-halswell -
22-01-2020, 02:09 PMSBQMy opinion stands as before. The Christchurch market won't have the rush like Auckland and in the longer term, the gov't at the national level will relax building requirements to spur more building.Quote:
Originally Posted by Cricketfan
Did I say building? Look not far along Cashmere Road where there's a new massive sub-division development in progress. What does that mean? -
22-01-2020, 10:36 PMratkinthat whole area from cracroft onwards is like a giant building site, all the way to the quarry the hills are vanishing, was a nice road to run/cycle but before long going to be choc a block with trafficQuote:
Originally Posted by SBQ
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23-01-2020, 08:23 AMBjauck"The past is a foreign country; they do things differently there." L.P. HarteyQuote:
Originally Posted by ratkin
Sounds like lots of places in Auckland. About a decade ago, I used to cycle regularly from Howick to Ardmore. A few tough hills, but It was mostly a pleasant cycle. Now the roads are clogged and full of trucks; many of the paddocks and meadows are now full of cheek by jowl housing - not what I would call "affordable for the local community" either. If you have high immigration, your cities will become denser and your green fringe eaten up by housing. -
27-01-2020, 09:02 PMtroyvdh
Being a landlord for nigh on for 4 decades..in Chch..Im becoming i creasingly alarmed by this Williams outfit ..sucking in all those folk buying one of these cluster units..emboldened by promises of riches...sad so sad.
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27-01-2020, 09:59 PMSBQCertainly agree and I know the area well as I use to live on Cashmere Road. The intersection at Sparks Road and Henderson Road got so busy they had to put a traffic light, and parallel along Lincoln Road into town is already busy enough.Quote:
Originally Posted by ratkin
If you compare to other developed countries (and this has been cited before), NZ's RMA is very restrictive. However we have a difference in view of NZ culture vs overseas. The national level gov't wants to relax the RMA rules but at the municipal level, they don't want it. So much that Lianne Dezel our Chch mayor could not secure much funding from Parliament for the earthquake recovery build and i'm sure a lot of that has to do with what local Chch residents want vs what the national level of gov't wants. One example is to allow more building closer to the boundaries and focus higher density building by going UP instead of all these newly constructed boring single story houses we see in new subdivisions. You know people want their privacy, they don't like neighboring windows looking at each other or houses being too close. Even stupid rules like if your 2 story house is withing 4m from the neighbouring boundary, then the windows upstairs have to be obscured. When you look overseas, houses are built much closer with more efficient use of land, and the emphasis to build UP. But somehow NZ's desire for having unused landscapes, large long driveways (ie we see in sub-divided single lots of a separate dwelling house built in the front and back) vs a back alley access we see in N. American sub-divisions. So our mayor in Chch made the choice to put the cost of the rebuild to the rates payer.
I noticed their ads flooding my FB feed. Williams are not the only ones in this scheme where they attract mom & pop home owners to invest in these 'shared' ownership ventures. Recently a house down our street was sold for top $ 2 years ago (a 4 bedroom place, they ALWAYS look for minimum 4 bedroom houses) and rent the house house at maximum; 8 cars parked because each room would be 2 people and each person requires a vehicle). Anyways, this is the problem with NZ. We have a tax system that favors investment into residential properties for the sake having tax free gains while the commoner's only choice is Kiwi Saver. Yes it's so sad.Quote:
Originally Posted by troyvdh
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29-01-2020, 09:07 AMSBQ
https://www.stuff.co.nz/business/119...istchurch-flat
I suppose there's good reason why property investment schemes only pick quality houses to rent. Less headaches.