South Auckland returns?
Question from SB updated on 20th April 2012:
Our expert Kris Pedersen responded:
First you need to decide why you are investing in property and what it is that you are wanting to achieve by investing in it. The Manukau City region has more lower socio economic areas than other Auckland regions. The benefit of this is that generally the achievable yields are higher but the negative is that you can have more tenant problems if you or a property manager don’t manage the properties effectively. The Manukau City region is expected to continue to have strong population growth moving forward which is a positive for house prices. It is a large area though and there are huge differences between investing in say Dannemora and Clendon Park, both of which fall under this area. Figure out why you are investing and then try and research areas to find out which suit your requirements the best and then become an expert in these areas.
Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies. www.krispedersen.co.nz