Investor Hot Spots
Investing in property is a popular way for Kiwis to earn income and build wealth. Whether you want to increase your cash flow, grow capital or take advantage of tax benefits, Location is crucial to your decision.
Purchasing at the right time, in the right area can make all the difference to how your investment grows. Demand for quality properties has never been hotter so we asked Ray White agents across the country for their top picks on where to buy.
Director Ray White Allens, Vanessa McKenzie, recommends Whangarei city and surrounding areas for possible returns of up to 6%. With lots of quality, low maintenance homes on the market, prices are very affordable, averaging between $230,000 and $300,000. Appealing to young families and couples, Whangarei’s lifestyle of beaches, bush walks and fashionable shopping is highly desirable. There’s also over 50 schools spread throughout the suburbs and good public transport connecting each community. With construction underway on new buildings, infrastructure and services, and situated only two hours from central Auckland, Whangarei has a lot of long term potential.
Vanessa Golightly from Ray White Metro tips Christchurch City for huge growth in the next three to five years. With the inner city rebuild only just beginning, any investor looking to get a jump on the market should look at the city centre and its immediate neighbours to the north. Without a CBD most people have relocated to outer areas, where hundreds of new houses are being built every month. However, with entertainment zones, river walkways, retail outlets, residential accommodation and an arts centre all in the works, there will be a strong attraction to move back within the four avenues as companies return to business. Smart investors should snap up a piece of the city now to secure future rental income and long term capital growth.
As is, Where is
Unheard of before the earthquake, ‘As is, Where is’ properties in Christchurch are a great long term opportunity for investors, says Management Principal, Craig Prier of Ray White Prier Manson. Able to be bought at relatively low prices they can potentially demand a higher return than what may have previously been achieved. Considered too costly to repair by some, these written off houses are available across many areas of the city, particularly the eastern and seaside suburbs, and insurance is available for the right investors.
Jennifer Lamberton, Selling Principal Ray White Tokoroa, suggests you invest your money in the home of affordable homes. Originally developed as a farming area, Tokoroa’s main economic focus is forestry. With a sizeable population, the town has big investment opportunities and a strong rental roll. Expect to find some of the town’s best buys selling at 30% under market value and tenants paying out up to $250 a week. A breeding ground for international sports stars, the quiet town has all the leisure facilities you could ever want, as well as two thriving high schools, plenty of shops and many cultural delights. Only an hour away from Taupo, Rotorua and Hamilton, now is the time to get in and grab a bargain.