Looking south for investment
Question from Corey updated on 8th March 2014:
Hi there, in August 2012 I purchased an investment property in Manurewa, south Auckland which was a good buy and gave me a little equity to then purchase a family home in September 2013 . Our LVR is now quite high so our next purchase is going to have to be a strategic one. One that is located in a high-growth suburb to then fund further purchases. We are looking at purchasing our next property in Hamilton in a high-growth suburb, could you point us in the right direction? Thank you and kind regards.
Our expert Kris Pedersen responded:
While I was born in Hamilton I am not the right person to comment on which area to focus on as I tend to mainly focus on central Auckland and the North Shore. I however have thought that Hamilton may be in for a good 2014 as with the overall economic indicators being positive plus more people being priced out of Auckland this is likely to have some positive impacts on Hamilton’s prices and the capital growth in this region. If your cashflow is okay then one option with the recent change in the Reserve Bank’s LVR policy is to consider a new build.
Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies. www.krispedersen.co.nz