Wouldn't buy just yet-unless
looks like I have a buyer for my sections 295,000 by the end of oct.
Where the funds will go-
Property-have my eye on another couple decent sections down south will not be spending much %70-%80 funds will stay in cash or good NZ shares(not into ASX- NZD to weak)
-like-
#1-NZO -great growth story unfolding here-maybe a .20% share
-Not overally keen at all to take on dept into NZ property, currently find prices even in Invercargill getting abit over the top driven by speculation of Oil boom which is still too many yrs away ,with the negative facts of the weak rental market there currently really making the 6-7%yeilds IF rented not to positive.
My #1 down south property bargins is ------Queenstown(were I'm based and have personal exp. in buying selling developing property)
I have seen prices stay steady and fall in some areas over the last 3yrs and now with 1000's of apartments planned to be built into the soft market place there bound to be some pressure selling over the next couple yrs till the NZ rugby world cup which should help turn it round my pick is under further rate rises Qutown apartments will be as cheap to buy as townhouses in Invercargill are,and I know where I'd rather have a rental property