We all see the media angst about property prices and how
unaffordable homes have become. Most of it of course generated out of Auckland (where prices have become crazy in many respects - certainly many of our owners are smiling from ear-to-ear when they sell).
We won't go into the detail in this article, and
www.interest.co.nz has a great summary chart which we have included (original
here) and you can see more detail on the topic
here.
Housing is viewed as unaffordable when you have to pay more than 40% of your income on the mortgage to buy it and when the bottom tier of the market in Auckland has an average price over $600,000 is not hard to agree. Basically it sucks to be a first home buyer, or a family on an average income trying to buy a home in Auckland. Many argue its impossible.
To pick a number, trying to find a tidy family home less than $400,000 in Auckland is extremely tough (read, basically impossible) unless you start to seriously stretch the boundary of what makes Auckland.
But it's not all bad - out in the provinces (by which we mean anything outside the Big Smoke) you can find very nice homes at quite reasonable prices. Here are some we’re selling in the $300-400,000 range South of the Bombay's. Very Nice, Very Affordable - they do exist:
You don’t even need to go too far away from the Big Smoke. How about a nice property on the Southern outskirts of Hamilton in Ohaupo, at 3969 Ohaupo Road? This is just calling out for a family to make it home. There is the opportunity to improve it too - it really ticks so many boxes.
Close to Hamilton, with a rural feel, but without all the work that comes with a lifestyle block. Get away from the noise and pressure, but still be close to a city - and with the Waikato Expressway you're not too far away from the Big Smoke too.
Or if we head little East we have a cool little town in Waihi, New Zealand's mining capital. Here we have
96 Barry Road. This one's actually just sold, but why ruin a good story! Waihi isn't just a big hole in the ground and a bunch of tunnels either.
This is a great character home at a very reasonable price and it's not the only one in town.
Central to the Hauraki District with all the amenities close by, still close to Auckland, but also the Bay of Plenty and Tauranga. We're well under our $400,000 ceiling - with all the money you will save on the mortgage you can afford day trips! Shopping in Auckland, swimming at the Mount or a cool cafe in Tauranga.
Let's head a little further South. What about Taupo, the best lake in the world all 616 square km of mountain fed crystal clear waters. Fishing, skiing (on water and snow), be insane and cycle around the Great Lake, or swim across it, or add a run to the mix and complete the Ironman.
If you bought 5 Ward Place you can live very nicely walking distance away from a boat ramp, swimming and even an on-the-water cafe. Plenty of room, decks to enjoy early morning and evening sun - shed space galore. Good schools nearby. Walk to work for the exercise - where else in the world is the greatest danger on your commute tripping while you walk and take pictures of the mountains at the same time (speaking from experience). This home has everything your family could need.
Next up, the Rangatikei, some of the most beautiful countryside on the planet. I guess one of the great things about New Zealand is that there are a few places around the country that would claim that title. But what about we travel South West from Taupo to Rangatikei's largest town, Wanganui? Head down State Highway 1 and hang a right at Marton, or take the scenic route over the Parapara's and enter town driving down alongside the Whanganui River. Wanganui, perched on the famous river, with its history and lifestyle.
We have a great home for sale in town. If you can do it why not live in something special? Now I want to live here because 11 Nile Street the very definition of a character home and you can buy it and still be in our $300-400,000 price range. Head out to the beach, cruise up the river, or just enjoy the cafes and pubs in the town centre. Wanganui is a gem of a place - underrated if you ask me.
Oh, you like the beach - yes why not. How about we look at something just a little bit different at Apartment 2A at 25 Maclean Street Parapaumu? Less than 100m from Marine Parade and the beach. Miles and miles of sandy beach, Kapiti Island, fishing, swimming and everything else you associate with the beach lifestyle.
You can even catch the town into the Capital to work, or use the airport less than 2km's away to go places further afield. But, why would you - in town with the cafes and restaurants, close to everything and no lawns!
A little further South from Paraparaumu we are getting close to the Capital City - Wellington. If Auckland is the Big Smoke, is Wellington the Little Smoke? If Auckland is the engine, is Wellington the Caboose with the engineer chilling out? Who knows, but just out of Wellington is Lower Hutt and more specifically for us right now a wonderful town called Wainuiomata.
In Wainuiomata we have a fabulous 3 year old brick and tile home at 14 Sun Valley Grove. Here you are close to everything, a big geographic bowl with its own micro climate and you can buy something near new in our $300-400,000 price range. Yep, something almost new under $400k - try that in Auckland.
But you can even do better. If we head back out of Wainuiomata we are in the Hutt Valley. How about a real gem under $300,000? Yep, a really private rear section family home, 3 bedrooms and a bathroom with a half share in almost 800sqm, for under $300k. Not in Auckland my dear friend. But you can at
2/1159 High Street in Taita, Lower Hutt. Just 100m to the train station, or a quick hop onto the motorway.
When you're not working enjoy the fenced back yard, decks to lounge on and enjoy the warmth and afternoon sunlight. Own your own home with a mortgage a few times smaller than what it would cost to buy the same property in Auckland. No wonder you will be able to relax and enjoy life!
Or, if you really want an economical deal then one place to go is Tokoroa. Live in South Waikato and the timber capital of New Zealand. Oh so close to everywhere. Here you can buy a family home for not too much more than the average New Zealand annual income. Indeed we have
167 Papanui Street in Tokoroa, incredibly cheap compared to Auckland prices and with opportunity for you to add some value too. Three bedrooms, room for the kids out back, close to town and the shops. Tidy it up and reap the rewards (sounds like a real estate advert!).
The picture doesn't do it justice (we always recommend professional pics and in this case the owner decided against them - but, that is another story - the price more than makes up for it)
With prices they way they are in Auckland it is tough, very tough to buy affordable property. If you live in Auckland and struggle to see how you will ever buy a home, don't despair. They do exist, and we haven’t even gone across Cook Strait to find them for you!
by Grant Wakelin
apeksha said:
Nice Article
Posted 28 th December, 2015erer said:
ere
Posted 11 th February, 2016