More than 500 people gathered in The Langham, Auckland over the weekend for the Property Masters event to meet property investment mentors: Sean Wood and Steve Goodey of PropertyTutors. Sean set up PropertyTutors in 2008 to mentor property investors in the property trading strategy.
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It’s that time of year when property investors get ready for PropertyTutors’ one day property investing event called Property Masters. The event is held in Auckland and Wellington twice a year and it’s always popular among property investors. While the event’s format remains the same each time, the content is up-to-date and the event provides property investors with real examples of the buy-renovate-sell strategy called property trading and the latest on property funding and accounting from renown professional services firms.
Expect to see another increase in the property sales price data for Wellington when the Trade Me Sales Price Index is released for March 2016. Homes in the region have sold within days of being on the market for sale; and they’re being purchased for tens of thousands of dollars over the Government valuation.
The RBNZ wants to see the sales data for February and March before assessing the effectiveness of their new measures that included the 70% LVR restriction for Auckland investment properties. New lending was at an all time high at $1.679 Billion for the week ending 4 March and the average size of loan set a new record. February property sales were up on the previous three months.
The new RBNZ LVR restrictions have been in play for some time and many property investors in Auckland and around the country are slowly getting on board with them. However it’s clear there are still a lot more questions being asked about this rule and the ‘bright-line’ test than there are answers.
Tired, run down properties are in abundance throughout New Zealand. Some are inhabited, a lot are not and realistically none of them would pass a Warrant of Fitness test. Typical owner occupiers ignore these properties when they are listed for sale. Thankfully they are being snapped up by the property investors on PropertyTutors’ The Masters mentoring program.
Is there such a thing as ‘perfect timing’ or perfect market conditions to invest in property in New Zealand?
Do we need to hold fire until that time comes? This would be very pleasing for a lot of investors if we all did hold off.
There are at least 200,000 property investors with rental properties in New Zealand. This statistic was plucked from new IRD data for year ending March 2013.
So how much tax did these property investors pay that year? How many property investors live offshore? Is foreign ownership really a threat to the property market?
At some point Property Investors need to update the look of their investments to attract the best possible income.
While there is a certain reluctance amongst us to do cosmetic work to a property we also know that delaying it can actually hurt us in the pocket.
DIY is no longer in our DNA. Property Investors can fall into the DIY trap and it can end up costing them more over time.
The skills required to do a lot of the property investment jobs like maintenance, and home renovations are not in our DNA. Unlike our grandparents, we’re just not that practical.
In the four years to 31st May 2014 the average property value has risen nearly $80,000 according to QV.co.nz property trends graph.
In May 2010 the average property value was $397,396 and in May 2014 it was $471,491. Will the trend continue? Possibly for a while longer especially in the growth regions of New Zealand like Auckland.
The dates have been set for The Masters May 2014. The Masters is unsurpassed as an Event for understanding all things property investment. Near on 400 people join Sean and Steve at The Masters events and they find out early on why PropertyTutors are the leaders in property investment education and mentoring.