Investing in Hamilton units
Question from Miriam updated on 18th July 2018:
I am thinking about investing in some new units in the Hamilton market. Do you think that would be good idea? What's the outlook for property in Hamilton?
Our expert Kris Pedersen responded:
I personally think Hamilton is a good long term proposition. It's got great proximity to Auckland and also other populated areas such as Tauranga and Rotorua while generally having better yields than the Auckland market in particular.
I do note you say new units and so it depends on how these stack up. If there is the benefit of the LVR exemption this is one plus. But I would also say that at the moment an easier way to create equity may be second hand property as this may be easier to obtain at a discount and extra equity can potentially be added through renovations. On the flipside of this if you are just wanting to obtain something which you can set and forget these could be worth looking at.
Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies. www.krispedersen.co.nz