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Casting a wide net

Nichole Lewis has travelled from Kaitaia to Invercargill in her search for a good buy.

By: Nichole Lewis

1 April 2023

What is really happening with property around New Zealand? One way to keep informed is to read statistics and reports. That certainly has its place. I listen to the experts and attempt to piece together my educated guess about what the market will do over the next 12 months.

But what really makes my guesses educated is what I see “on the ground” out and about looking at property.

This month I’ve been from Kaitaia to Invercargill, working with my mentoring clients looking for property to buy. I’ve spoken to brilliant property people and learned a lot from local knowledge.

It’s always good to listen to good agents, property managers, building inspectors, mortgage brokers, locals, investors and developers to see what they are doing and what they think.


Here’s what I’ve learned:

- There are pockets of the country that have great returns for small purchase prices.

- Some areas have one do-up after another after another and the buy price does not match the condition of the property.

- In Christchurch I was outbid at auction with strong bidding as though we were back in 2021.

- Kaitaia has had a slump with properties sitting on the market six months, which are starting to move now. I missed out on one due to an offer already on the table.

- In Invercargill I had a multi-offer on a property in an average street that needed a lot of work. The right returns are generating strong interest.

- Palmerston has very low vacancy rates for rentals with tenants wanting to do right by landlords.

- Auckland has some great buys and some educated tenants who will try to nail good landlords for missing the slightest part of HH compliance.

- Wellington has a lot on the market; walking down the street my in-laws live in I’ve never seen so many “for sale” signs.

- Levin rose dramatically to a 2021 peak. It sat for 10 years not moving then almost quadrupled, so even though it has gone down recently the value is still there, although sales are very slow.

I could keep going. What I wanted to impart to you is there is a piece of NZ that has the deal you’re looking for.

If you need some cash from a project don’t listen to the negative people who say “now is not the time”. Find the right deal for you and buy sharp. Partner with experts around the country where do-ups are flourishing. There’s nothing wrong with sharing the profits.


If you want to increase passive income with multi-units there are plenty in every price bracket all over the country. Don’t be limited by thinking you have to buy where you live. My mentoring clients are looking everywhere for the best buys. We can help you find a great deal. No matter where you are or what you want
to achieve, I’m only an email or phone call away.


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