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  1. #1
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    Default Christchurch rental propects

    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

  2. #2
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    Sth Island. New Zealand.
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    Quote Originally Posted by Jay View Post
    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
    What is she hoping to achieve?

  3. #3
    Member
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    Nov 2018
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    Christchurch
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    Default

    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.

  4. #4
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    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

  5. #5
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    Quote Originally Posted by Jay View Post
    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
    Cashflow neutral? What sort of rent do they anticipate getting ?

  6. #6
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    Can't remember FP - also depends on how much she borrows - don't know her personal financial details, just asking about location really

  7. #7
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    Default

    Quote Originally Posted by Jay View Post
    Can't remember FP - also depends on how much she borrows - don't know her personal financial details, just asking about location really
    Lots more information needed, but it sounds dreadful to me.

  8. #8
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    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

  9. #9
    Senior Member
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    Wellington, , New Zealand.
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    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.

  10. #10
    Member
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    Nov 2018
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    Christchurch
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    Quote Originally Posted by Jay View Post
    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
    If 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.

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