Investment property buying tips
Knowing where to look for an investment property is half the battle. When you’ve narrowed your search to a specific suburb, you need to know what type of property to look for. VICKI HOLDER asked three experts for some hot house-hunting tips.
Monday, July 28th 2003, 4:09AM
by Vicki Holder
PHIL JONES Director of Entrepreneurs Success Centre
Solid ex-State houses in Glen Innes represent great investment buying, with the expectation of strong capital gains in the next 10 years...
GEZ JOHNS Editor of Kiwi Property Investor Magazine
Johns warns against investing in the inner city. He says Auckland and Wellington are seeing constant growth and shoebox studios have traditionally achieved a pretty good yield for investors. However, although the Asian student mix has provided a constant stream of reliable tenants, anecdotal evidence suggests New Zealand is becoming less and less appealing to this group, because of the strong dollar, safety worries and SARS, and these apartments might not represent a great investment right now...
Kieran Trass Hybrid Consulting
Select from areas such as Mt Wellington/Panmure, Otahuhu and New Lynn, areas lagging behind the growth rates of surrounding suburbs...
Multiple income properties, such as flats and home and income-type properties, are worth checking out, too. Again, the property must provide surplus cashflow before any tax benefit is received.
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| « House price rises to settle down to single figures, say experts | Govt home loan scheme OK'd » |
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