Investment - Commercial - residential property

[JBmurc]

Hi JB, Interested in you comments on central otago property. I'm located in BOP so not too familiar with the state of the market down there. Is the market quieter lately or still pumping ?

Well there is still many new houses getting built and sections selling all at much higher levels ... here in Cromwell region (where we moved from Qutown) just under 2yrs ago we secured a property here 280sqm 208 brick for 550k ....a few weeks ago westpac valued at a 45% higher value.. (as to why I can now BUY the above post PGG building at 4.35% 2yr fixed rates using the free equity)

Pretty much next to nil rental properties in Central Otago usually 1-3 advertised for whole area ...the lakes district Qutown- Wanaka $700pw+ will get you decent enough family rental ... so very tight rental market ...

I just can't see the growth in values continuing even though I see developers are trying http://hpgroup.kiwi/pricing/

when we purchased early 2016 you could have secured many section in the cromwell township for 120-150k 600-700sqm

Alexandra prices have also continued higher but you can still buy at decent levels ...and come across this lifestyle sections at the right price 260k etc better buying in the region next door to the local GOLF Club ...https://www.trademe.co.nz/property/r...2Z9cJ8aU%2fowQ


Queenstown / Wanaka pure madness pricing still but have much more listings at crazy high prices ... I'd hate to know the average debt loads many of the locals are under>>>

....I really don't see a major correction more so flatline and any force sales being soaked up my sideline buyers ...no other place in the country I'd rather live(and as do so many others as to demand Vs supply)