Same question here for Tokoroa, it is at a handy location that is not too far from a lot of places. Plus, there is a lot of industry and manufacturers there. Got the Kinleith mill and Fonterra Lichfield site there. Plus new Singapore Dairy manufacturer OFI just started a new plant there. Also Tokoroa is pretty much a must pass if you are driving from AKL to Welly. I normally would use it as a pit stop using the Mac. Just wondering how the 33% over price is calculated? Thanks!
Great question re: the over valued model. The way it works is - we look at how expensive an area is compared to its historic average. So let's say (for example) Tokoroa house prices are usually 30% of the average house price in NZ. If Tokoroa house prices happen to be 20% of the country's average, they look cheap. They're undervalued. But if Tokoroa house prices are 40% of the country's average, then they are a bit expensive compared to where we'd expect them to be. So they look overvalued. Right now, they look overvalued.
Listening to this podcast in Taumarunui. Ruapehu District is a large area. Most of the Tourism is centred around Ohakune and National Park. Taumarunui tourism is more cycling and less about ski fields.
It looks like the best places under $500K are all in South Island. But if you are a small investor in North Island then what are your options? Tokoroa is being overvalued but it’s an hour drive from Hamilton, Rotorua and Taupo so is it actually overvalued? Also if you are a small investor from Auckland and you need to check or do any maintenance than you can get to Tokoroa in just over 2 hours. Thanks
Yup, most of the places with the best numbers are in the South Island right now. Main reason is that regional property prices in the mid-North Island spiked over the last 6 or so years. So that's why they come up overvalued. E.g. A place like Gisborne tripled in value over the last couple of years. That sort of growth is unlikely to continue in the future. Same deal with Tokoroa. Personally, I don't think investors should be doing maintenance or checking up on their properties. That's what property managers are for. But if I had to choose in the North Island, I would go for Hawera or Kawerau before I want to Tokoroa.
@@edmcknight1375 i just purchased a 130sqm place (good condition) on 820sqm land for only $330k in Gore! It's super expensive to build in NZ causing a chronic shortage of rental accommodation in regional towns. This is going to continue to drive up rents/yields. There is also the added value of subdivision potential.
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Ashburton is also somewhat commutable to Christchurch, people actually do it, a point missed.
Same question here for Tokoroa, it is at a handy location that is not too far from a lot of places. Plus, there is a lot of industry and manufacturers there. Got the Kinleith mill and Fonterra Lichfield site there. Plus new Singapore Dairy manufacturer OFI just started a new plant there. Also Tokoroa is pretty much a must pass if you are driving from AKL to Welly. I normally would use it as a pit stop using the Mac. Just wondering how the 33% over price is calculated? Thanks!
Great question re: the over valued model. The way it works is - we look at how expensive an area is compared to its historic average. So let's say (for example) Tokoroa house prices are usually 30% of the average house price in NZ.
If Tokoroa house prices happen to be 20% of the country's average, they look cheap. They're undervalued. But if Tokoroa house prices are 40% of the country's average, then they are a bit expensive compared to where we'd expect them to be. So they look overvalued. Right now, they look overvalued.
Listening to this podcast in Taumarunui.
Ruapehu District is a large area. Most of the Tourism is centred around Ohakune and National Park. Taumarunui tourism is more cycling and less about ski fields.
It looks like the best places under $500K are all in South Island. But if you are a small investor in North Island then what are your options? Tokoroa is being overvalued but it’s an hour drive from Hamilton, Rotorua and Taupo so is it actually overvalued? Also if you are a small investor from Auckland and you need to check or do any maintenance than you can get to Tokoroa in just over 2 hours. Thanks
Yup, most of the places with the best numbers are in the South Island right now. Main reason is that regional property prices in the mid-North Island spiked over the last 6 or so years. So that's why they come up overvalued. E.g. A place like Gisborne tripled in value over the last couple of years. That sort of growth is unlikely to continue in the future. Same deal with Tokoroa.
Personally, I don't think investors should be doing maintenance or checking up on their properties. That's what property managers are for. But if I had to choose in the North Island, I would go for Hawera or Kawerau before I want to Tokoroa.
Gore is the place to be!!
😂😂😂😂
What's making Gore the place to be right now? Happy to reconsider where we put it in the tier list.
@@edmcknight1375 i just purchased a 130sqm place (good condition) on 820sqm land for only $330k in Gore! It's super expensive to build in NZ causing a chronic shortage of rental accommodation in regional towns. This is going to continue to drive up rents/yields. There is also the added value of subdivision potential.
@@edmcknight1375 freezer worker /farm worker
What about the apartments in Auckland CBD,under 500k,is that a good investment?
What about opotiki
What is the stats on Rotorua please?
www.opespartners.co.nz/over-under-valued/rotorua
What's the greymouth joke 😅