Appartments in Wellington
May 6th 2005, 11:57 am
#1
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Appartments in Wellington
Ok for those of you on the ground in Wellington what do you think of appartment prices in CBD.
My son is going to Vic uni in Feb and keeps telling us it would be a fantastic investment for us to buy an appartment for him to live in while he is at Uni. We could rent out the other room. All the properties I have looked at seem to be about $250,000. The cost of halls of residence are about $200pw.
There seems to be a big increase of appartments since I was in Welly. Any one know if there is an over supply?
Thanks
KAZ
My son is going to Vic uni in Feb and keeps telling us it would be a fantastic investment for us to buy an appartment for him to live in while he is at Uni. We could rent out the other room. All the properties I have looked at seem to be about $250,000. The cost of halls of residence are about $200pw.
There seems to be a big increase of appartments since I was in Welly. Any one know if there is an over supply?
Thanks
KAZ
May 6th 2005, 12:01 pm
#2
Forum Regular
Joined: Mar 2005
Posts: 167
Re: Appartments in Wellington
Originally Posted by kaz Hen
Ok for those of you on the ground in Wellington what do you think of appartment prices in CBD.
My son is going to Vic uni in Feb and keeps telling us it would be a fantastic investment for us to buy an appartment for him to live in while he is at Uni. We could rent out the other room. All the properties I have looked at seem to be about $250,000. The cost of halls of residence are about $200pw.
There seems to be a big increase of appartments since I was in Welly. Any one know if there is an over supply?
Thanks
KAZ
My son is going to Vic uni in Feb and keeps telling us it would be a fantastic investment for us to buy an appartment for him to live in while he is at Uni. We could rent out the other room. All the properties I have looked at seem to be about $250,000. The cost of halls of residence are about $200pw.
There seems to be a big increase of appartments since I was in Welly. Any one know if there is an over supply?
Thanks
KAZ
May 6th 2005, 12:07 pm
#3
Banned
Joined: Mar 2005
Posts: 113
Re: Appartments in Wellington
hi kaz,
there was a huge increase when we were there all through 2003 & they seem to popping up everywhere, but we've been looking to rent & they dont seem to be on the websites for very long. The cbd is full of them now, but they do all seem to be going fast. Thats just my view from someone looking at renting / buying in welly, obv not on the ground just yet.....
hope your'e well.
there was a huge increase when we were there all through 2003 & they seem to popping up everywhere, but we've been looking to rent & they dont seem to be on the websites for very long. The cbd is full of them now, but they do all seem to be going fast. Thats just my view from someone looking at renting / buying in welly, obv not on the ground just yet.....
hope your'e well.
Originally Posted by kaz Hen
Ok for those of you on the ground in Wellington what do you think of appartment prices in CBD.
My son is going to Vic uni in Feb and keeps telling us it would be a fantastic investment for us to buy an appartment for him to live in while he is at Uni. We could rent out the other room. All the properties I have looked at seem to be about $250,000. The cost of halls of residence are about $200pw.
There seems to be a big increase of appartments since I was in Welly. Any one know if there is an over supply?
Thanks
KAZ
My son is going to Vic uni in Feb and keeps telling us it would be a fantastic investment for us to buy an appartment for him to live in while he is at Uni. We could rent out the other room. All the properties I have looked at seem to be about $250,000. The cost of halls of residence are about $200pw.
There seems to be a big increase of appartments since I was in Welly. Any one know if there is an over supply?
Thanks
KAZ
May 6th 2005, 12:13 pm
#4
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Re: Appartments in Wellington
Originally Posted by ps_wardle
hi kaz,
there was a huge increase when we were there all through 2003 & they seem to popping up everywhere, but we've been looking to rent & they dont seem to be on the websites for very long. The cbd is full of them now, but they do all seem to be going fast. Thats just my view from someone looking at renting / buying in welly, obv not on the ground just yet.....
hope your'e well.
there was a huge increase when we were there all through 2003 & they seem to popping up everywhere, but we've been looking to rent & they dont seem to be on the websites for very long. The cbd is full of them now, but they do all seem to be going fast. Thats just my view from someone looking at renting / buying in welly, obv not on the ground just yet.....
hope your'e well.
I didn't think about looking at what was available for rent, doh! good idea that will help us make up our minds about buying one. We haven't bought in the UK and since selling my dream house in Woburn prices seem to have rocketed. I'm loosing sleep over how much money we have lost. If we do buy the appartment it would be our pension fund, god that makes me sound old, mind you it is the big 40 this year.
Had a great day so far, my day off, been to the gym, had coffee with friend, looking a v dirty house and ignoring it.
Cassa, is your sis at Vic? did she not like the halls?
Simon the man on the ground with the know, where are you?
KAZ
May 6th 2005, 12:15 pm
#5
Forum Regular
Joined: Mar 2005
Posts: 167
Re: Appartments in Wellington
Originally Posted by kaz Hen
Hi Paul,
I didn't think about looking at what was available for rent, doh! good idea that will help us make up our minds about buying one. We haven't bought in the UK and since selling my dream house in Woburn prices seem to have rocketed. I'm loosing sleep over how much money we have lost. If we do buy the appartment it would be our pension fund, god that makes me sound old, mind you it is the big 40 this year.
Had a great day so far, my day off, been to the gym, had coffee with friend, looking a v dirty house and ignoring it.
Cassa, is your sis at Vic? did she not like the halls?
Simon the man on the ground with the know, where are you?
KAZ
I didn't think about looking at what was available for rent, doh! good idea that will help us make up our minds about buying one. We haven't bought in the UK and since selling my dream house in Woburn prices seem to have rocketed. I'm loosing sleep over how much money we have lost. If we do buy the appartment it would be our pension fund, god that makes me sound old, mind you it is the big 40 this year.
Had a great day so far, my day off, been to the gym, had coffee with friend, looking a v dirty house and ignoring it.
Cassa, is your sis at Vic? did she not like the halls?
Simon the man on the ground with the know, where are you?
KAZ
She likes the Halls but i think she would like more personal space. ALso it seems to be the thing they do. Halls for the first while then group up and rent a flat.
May 6th 2005, 12:57 pm
#6
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Joined: Feb 2005
Location: Waikanae, New Zealand
Posts: 267
Re: Appartments in Wellington
Here I am!
Apartments - there are lots, mostly in converted old office buildings. Some are really tiny, others not too bad. To give you a guide, a friend of mine owns one on the waterfront, It is nice and modern, but not big - two bedrooms, lounge, small galley kitchen, bathroom and laundry (aka utility room). Underground car parking. He paid 1.2 million for it. It is now worth about 1.5 million.
So... anything for 250K is probably small, or in a bad spot, or old. if you have more details I can research further.
Regarding Rosetta... give me some clues, there are several there...
Apartments - there are lots, mostly in converted old office buildings. Some are really tiny, others not too bad. To give you a guide, a friend of mine owns one on the waterfront, It is nice and modern, but not big - two bedrooms, lounge, small galley kitchen, bathroom and laundry (aka utility room). Underground car parking. He paid 1.2 million for it. It is now worth about 1.5 million.
So... anything for 250K is probably small, or in a bad spot, or old. if you have more details I can research further.
Regarding Rosetta... give me some clues, there are several there...
May 6th 2005, 1:16 pm
#7
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Re: Appartments in Wellington
Originally Posted by kiwijetpilot
Here I am!
Apartments - there are lots, mostly in converted old office buildings. Some are really tiny, others not too bad. To give you a guide, a friend of mine owns one on the waterfront, It is nice and modern, but not big - two bedrooms, lounge, small galley kitchen, bathroom and laundry (aka utility room). Underground car parking. He paid 1.2 million for it. It is now worth about 1.5 million.
So... anything for 250K is probably small, or in a bad spot, or old. if you have more details I can research further.
Regarding Rosetta... give me some clues, there are several there...
Apartments - there are lots, mostly in converted old office buildings. Some are really tiny, others not too bad. To give you a guide, a friend of mine owns one on the waterfront, It is nice and modern, but not big - two bedrooms, lounge, small galley kitchen, bathroom and laundry (aka utility room). Underground car parking. He paid 1.2 million for it. It is now worth about 1.5 million.
So... anything for 250K is probably small, or in a bad spot, or old. if you have more details I can research further.
Regarding Rosetta... give me some clues, there are several there...
The house in Rosetta was on open2view no 104027, just checked though and it must have gone as the house with this no now is not the one.
It was 4 bed, quite big, garden led onto the beach, just a rough guess would be good.
Thanks
KAZ
May 6th 2005, 1:29 pm
#8
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Joined: Feb 2005
Location: Waikanae, New Zealand
Posts: 267
Re: Appartments in Wellington
Originally Posted by kaz Hen
God, I'm not buying him an appartment worth that much, he will just have to make do with small!! :scared:
The house in Rosetta was on open2view no 104027, just checked though and it must have gone as the house with this no now is not the one.
It was 4 bed, quite big, garden led onto the beach, just a rough guess would be good.
Thanks
KAZ
The house in Rosetta was on open2view no 104027, just checked though and it must have gone as the house with this no now is not the one.
It was 4 bed, quite big, garden led onto the beach, just a rough guess would be good.
Thanks
KAZ
Buy a place a few streets back, save a bundle, and you won't have to spend your days worrying about tsunamis...
I'll ask around some more about apartments... are we talking about the same thing? Most students live in halls of residence, or student flats. Student flats tend to be... shall we say... rough. Apartments are usually owned by city dwellers who like the night life (and not having to catch a bus to work).
May 6th 2005, 4:59 pm
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Re: Appartments in Wellington
Originally Posted by kiwijetpilot
Ah OK, well anything actually on the beach is going for between 750,000 (for a shack) or up to about 1.2 mill for a decent house - if it was modern and well-equipped, more like 1.5 mill. Across the road from the beach and you can halve the price. Beachfront values have gone completely stupid in the last few years. You are paying for the location.
Buy a place a few streets back, save a bundle, and you won't have to spend your days worrying about tsunamis...
I'll ask around some more about apartments... are we talking about the same thing? Most students live in halls of residence, or student flats. Student flats tend to be... shall we say... rough. Apartments are usually owned by city dwellers who like the night life (and not having to catch a bus to work).
Buy a place a few streets back, save a bundle, and you won't have to spend your days worrying about tsunamis...
I'll ask around some more about apartments... are we talking about the same thing? Most students live in halls of residence, or student flats. Student flats tend to be... shall we say... rough. Apartments are usually owned by city dwellers who like the night life (and not having to catch a bus to work).
As far as appartments I was looking on open2view for two bed CBD, don't want student flat, more pied a tier.
Thanks for your help
KAZ
