Wow, where has the time gone? We nearly through 2018 and the last 12 months has flown by. A fair bit has changed and I have a snapshot of
where we are in the market. The new CVs come out in November and the expectation is for a massive increase compared with the 2015 CV we
During the past 12 months there have been 422 sales in Tokoroa. Sale prices have been as high as 3 times the CV (2015 CV) with many sales
being twice the CV value. At the time of writing this there are only 45 houses listed for sale in Tokoroa. My clients have done very well
by letting me study the market, finding opportunity that others have over-looked and securing quality properties. My expertise &
experience is my clients’ advantage above the other buyers in the market.
House Sale Successes
I have had some great success with clients after hunting high and low for properties that are a great fit. I have been able to get things
to work for houses ranging in price from $175,000 up to $357,000. We have had houses where work required has varied from painting, bathroom
work, landscaping, insulation & heating and adding extra bedrooms. By completing the required work, rental yields have increased and
values have also increased too.
In Tokoroa, rent for a nice 3-bedroom property remains consistent at $220 - $280 p/w with an executive type property renting for around
$300 - $350 p/w. A nice 4 bedroom property will generally attract a rent of around $300 - $400 p/w. 1 and 2 bedroom flats are in good
demand and will now rent for around $160 and $190 p/w respectively. As I write this there are only 2 Tokoroa rentals on trademe, both in
undesirable locations, the locations we keep you away from.
Each week Fiona at Rentassured Tokoroa has around 10 enquires from
willing tenants looking for a place to rent. About half of those enquiries are from good people and we do our best to find a property for
them when we can. The common theme we find is that good tenants are happy to pay a fair market rent, which has increased a fair bit over
the last few years. The toughest challenge we face is the winter cold, where decent heating and an insulated house is the best way to keep
tenants happy and paying.
The redevelopment of our main street has just been signed off by council. This involves the investment of $4 million into Leith Place,
which will be innovative and eye-catching for years to come.
To discuss your next investment opportunity or to find out more about what Tokoroa has to offer get in touch with me today.
It's not just about finding a deal, to truly grow as an investor you need to plan towards your end portfolio and work with people who can help you move towards that vision. iFindProperty has a service that achieves that for clients, and we are excited to share it with you
As an accountant is not a place for my personal political opinions, but professionally speaking I’m pleased with this result, and cautiously
optimistic we might have a friendlier tax environment for the property sector for at least a few years. But what does this mean for property