SearchIn or out?
Helen asks:
(updated on Monday, July 22nd 2013)
I am looking to buy an investment/rental property. I have up to about $350,000 and I can use the equity in my existing properties. What would be the best for capital gains? A central Auckland apartment or buying further out like the North Shore? I want to keep up with capital gains and have something for my two grandsons as a deposit. The increases tipped for Auckland prices in the future are frightening when you think of the younger generation.
Our Experts Answer:
Buildings depreciate in value, land appreciate. Best to avoid investing in central Auckland CBD apartments and to leave it to the experts. Many are leaky, have high body corporate fees and high levies if on leasehold land. Unless purchased well below market value they will lag in capital growth.
Most areas of the North Shore are good as I see most areas being more capital growth than cashflow.
My preference is in units and houses with some land value between the areas of St Lukes snd Sylvia Park as central Auckland has pretty much run out of vacant land for developments.
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