The Unconditional Blog

The impartial voice of the industry


The joys of Invercargill

Posted on: February 22nd, 2008 | Filed in Buying / Selling a home, Property Investing, Regional News

Politics brings out the worst in people, but you have to have respect for Tim Shadbolt – he is the very epitome of a walking advertising billboard for that Southland city.

Yesterdays’s challenging interjection in the government’s housing affordability inquiry to which I have referred to on more than one occasion on this blog is another classic example of this one man promotion machine capturing the headlines – this time is is “Auckland to blame for country’s housing woes”. He claims that in Invercargill many families could easily afford to buy a three bedroom house for under $150,000. This statement got me thinking as to what you could buy in Invercargill for this money – quite a bit really!

Currently there are 35 houses in Invercargill city with 3 or more bedrooms, by comparison Auckland city has zero and Tim’s former home Waitakere offers no options.

(By the way if you do a search out of interest for Auckland or Waitakere, please be aware that you will find homes in this price range, but as you will see they look to be a bit too good to be true. That is because some agents tend to send us information on pricing for which the range is a little large, we unfortunately have to take their content at their word and display it. Our role cannot reach to auditing content – we get somewhere close to 7,000 new or amended listings daily. Although having seen some of these “error” I will highlight this to the respective agents today!)

This selection in Invercargill though is very interesting, how about this 4 bedroom home in Appleby at just $142,000 this is great value – beautiful decorated, but not sure about the duvet cover!

If you don’t mind the tin fence then this one in Appleby at just $140,000 would seem to be a steal given it has a fixed tenancy paying $190 per week – that is a 7% yield! Would have looked a bit better if the tenant had made the beds before the photos were taken!

But my winner would be this fabulous art deco 4 bedroom home in Bluff – shame just the one photo but it is a classic and a cheque for $140,000 will secure.

Just before we all rush off to Invercargill with our sacks of gold to swell the local council’s coffers with due rates and licensing trust contributions, I would like to correct Mayor Shadbolts assertion that the only other countries in the world with a similar concentration of population in a single city were Uruguay, Armenia, the Bahamas, Iceland and the small African state of Gabon. I would encourage him to visit a very successful, very prosperous, very sophisticated collection of countries collectively called the Nordic region. Norway, Denmark, and Finland all have similar populations to NZ and have a dominant supersized city accounting for over 30% of the populations – the cities of Oslo, Copenhagen and Helsinki respectively!.

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