24 Kelwyn Rd, Kelston, Auckland, TOWNHOUSES
Well designed, high quality, low maintenance townhouses in strong rental demand location
7 x 1 and 2-bedroom townhouses
Opportunity for additional capital growth before settlement in late 2020
Prices: 1 beds $499k - $510k, 2 beds $635k - $645k
The West Auckland market is a consistent long term performer.
Extensive investment in public transport and motorway widening is progressively reducing commuting times to the CBD
Strategy: Off the plan
Upside: Growth prior to settlement
Rent: Unfurnished / Furnished / AirBNB
Lending: 80% LVR
Deposit type: Cash, equity
Carparks: 1 off street
Valuation: Matches selling prices
Internal floor area: 1 bed 57 - 58 sqm, 2 bed 77 - 80 sqm
Land size: 1 bed 56 - 69 sqm, 2 bed 65 - 128 sqm
Dwelling type: Townhouses
Market rents 1 bed: $365 - $405 p.w.
Market rents 2 bed: $450 - $485 p.w.
Median gross yield: 4.4%
Median sale price 10 years: +127%
Median sale price 20 years: +335%
Capital growth (20 years): 8.0% p.a.
Kelston house/Townhouse MARKET PERFORMANCE
House/Townhouse median sale price August 19: $730,000
House/Townhouse sales volume: 55 per year
House/Townhouse days to sell: 43
House/Townhouse sales value: $38 million per year
Market data sources: Real Estate Investar, Tenancy Services, REINZ, One Roof
FIRST HOME BUYERS
Dwelling: 1 bedroom townhouse
Purchase price: $499,000
Weekly cost to own: $537
FIRST HOME INVESTORS
Dwelling: 2 bedroom townhouse
Purchase price: $635,000
Weekly cost to own: $327
Occupancy: With flatmate/s
Assessed rent 1 bed: $445 - $510 p.w
Assessed rent 2 bed: $510 - $600 p.w
Year 1 cashflow: 1 bed +$38 to $57 p.w
Year 1 cashflow: 2 bed +$1 to $23 p.w
DSR: 1.2 - 1.3
Gross yield: 4.1% - 4.7%
PRICE AND AVAILABILITY SUMMARY
To reserve a property, request a contract, provide the details requested in the form and we will issue a conditional contract to you for signing. You have up to 48 hours from receipt of the contract to sign, or the property may be released to another buyer. This is not a binding commitment until the contract documents are issued and signed by both parties. Your contract will include a conditional period to enable you to complete due diligence and confirm finance. Until your contract goes unconditional, you are not obligated to purchase the property.
Loan length: 30 years
Interest rate: 3.75%
LVR: 100% Investors / 90% Home Buyers
Rates: $2,000 - $2,500
Capital Growth: 8.0%
Valuation: Not supplied
Legal/Loan fees: $2,000
Rent: Market rents appraised by property manager
Body Corporate: N/A
Property Manager: NIL
First Home Buyers/Investors current rent: $450 p.w.
Located on Kelwyn Road in Kelston, these Townhouses are only a short drive to access the North Western Motorway and are perfectly positioned for trains, buses and other motorway connections and are walking distance to local shops, cafes and other amenities. It is with no doubt that finding new homes at an affordable price point is only going to get increasingly harder as Auckland City’s population grows.
The open plan nature of the kitchen, living and dining provides everything you need for comfortable living. Our extremely functional kitchen will impress, plus there is a separate laundry with storage space under the stairs. Upstairs are either 1 or 2 full size bedroom(s), which include large built-in wardrobes. Also upstairs is a full size bathroom. Outside is your own low maintenance, private courtyard with ample space for a barbecue, table and chairs. The outdoor area also includes a storage shed along with an outdoor power supply.
Auckland home buyers need to get in quick - city house prices could leap to record highs by this time next year, one property pundit predicts. Infometrics economist Paul Barkle says that while Auckland house prices have stagnated for close to two years they are set for an almost 10 per cent jump next year followed by sustained increases through to mid-2022. Behind the forecast price rise is an acute shortage of houses. By Barkle’s estimate the city needs at least 45,000 more homes. But the news is not so rosy for homeowners outside the Super City, with national prices poised to ease next year from current record highs.
“By the end of next year we expect house prices in Auckland to be 9 per cent higher than in December 2018 compared to a slight decline in national prices of roughly 1 per cent over the same period,” Barkle said. Should Barkle’s forecast play out, it would push Auckland property values to new highs. Last month, the city’s median price reached $867,000 - or 3.7 per cent below the record price of $900,000 set in March 2017, according to the Real Estate Institute of NZ.
(Exert from Article originally appeared on nzherald.co.nz on December 29, 2018)