Kingsland / Arch Hill

[The Great Gold Guru]

Thinking of keeping an eye on these two areas over the next few months , looking at buying a couple of long term rentals ( villas ). Anyone live here or anyone own property in the area. I understand that young couples who have been priced out of the Ponsonby / Mt Albert / Mt Eden / Grey Lynn areas are starting to look to buy .... could perform well over the next few years.

[Arbitrage]

I was looking at villas in 1985 and the agents were saying then that Kingsland/Arch Hill would be the next Ponsonby. They are still saying it.
Pluses of the areas are they are close to the central city, the shopping strip is a trendy cafe area, Eden Park is close, it slopes north and is sunny.
Minuses are the northwestern motorway which is noisy and won't go away, and narrow streets limit parking.
Best streets are nearest New North Rd and away from the motorway.

[Yossarian]

it already is the next ponsonby!!

Prices have rocketed in those areas over the last few years - I think you've missed the best pickings.

[The Great Gold Guru]

Thanks for the feedback , I remember people shaking their heads when the average Ponsonby villa was going for $350,000 - $400,000 saying that it was madness , now you can put a big fat "one" on the front of those numbers for the very best property. I realise the NW Motorway is an issue and yes I would definetly pay a premium to be out of "earshot" from the constant drone of the traffic. My bank keeps trying to lend me more money ... any desperate vendors out there ???

[Arbitrage]

it already is the next ponsonby!!

Prices have rocketed in those areas over the last few years - I think you've missed the best pickings.

Not really, I bought in ponsonby instead of kingsland in 1985.

[The Great Gold Guru]

I flatted in Brown Street in 1987, lovely villa on a decent section , can't remember the number , on the left hand side as you faced west , ... moved in about May , 2 months before the sharemarket peaked , landlord offered to sell me the place 2 days after the crash in Oct as he needed some fast money ... I would have loved to have bought it but unfortunately all my money was in the market as well and I was unable to take up his offer .... $125,000 , Oh how I wish he'd had the need for some fast cash a few weeks earlier !!!

[Arbitrage]

If you had bought it, the valuation would be between $750k and $1.2m depending on section size and condition. It always amazes me how most of the houses are on one tenth of an acre and are still valued at over $750k. Imagine what you would get in Dunedin for the same money? Even a nice little farm in rural NZ.