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Old 25-09-2006, 07:44 AM
lukas lukas is offline
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Join Date: Aug 2006
Posts: 29
Default Experience in Investing in New Zealand

Hey keegan,

After reading your comments on the suburb of North Brighton in Christchurch I feel I have to add some comments on this topic as I feel you really have been very one eyed on this. North Brighton is not the only suburb that gets hit with the Eastley wind but New Brighton, South Brighton, North Shore, South Shore, Sumner and most of the seaside hill suburbs of Mount Pleasant, Balmorals, Red cliffs, and Scarbourgh.
The reason this suburb is a very good long term investment is the fact it has been under valued for years and there is a high demand for rental properties in this area. Just because you found it cold does not mean the locals find it that way and you will find Brighton beach to be a good surfing spot and you will find it very popular in the summer time.
I personally own 2 properties in this suburb and was lucky enough to buy when the market was just starting to move. My property manager told me to expect around 200pw for a 2 bedroom cottage which I had just completed a reno on. When she put it to the market she had in access of 35 people wanting it and signed it up the same day for 230pw to a great couple who look after it like it was there own.
So your personal thoughts on this suburb may not be great but the locals think it is and there are some fantastic projects planned for this area which will make it even better for long term growth.
I have a large portfolio of properties myself in Christchurch and have recently been buying property for other people in the Christchurch area so believe your negative comments on this particular suburb are a little uninformed to say the least. I just wished I had brought more when you could still pick up houses for 130 to 150k 3 years ago.

Good Luck!!
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