Property gurus gather to inform and inspire at the Winter JUNO Exchange reader seminar.
Lots of younger Kiwis were among the more than 80 people attending the Winter event at Grid AKL in Auckland on 13 June. There JUNO turned the spotlight onto property and the investment landscape for investors, both hands-on and hands-off.
Executive officer of the NZ Property Investors’ Federation Andrew King said life as a residential investor is harder than it used to be. New government rules are tough, and investors are being accused of pushing first-home buyers out of the market.
Despite those issues, being a landlord is still worth it, he said.
Many Kiwis are desperate for somewhere to rent. There’s a limited number of rentals, creating huge demand in the market, especially for two and four-bedroom houses. There are gains to be made from buying a smaller house and enlarging it.
Nikki Connors, principal of Propellor Property Investments, says an investment property can provide an income stream in retirement, but it’s important to ringfence your own home or you could lose it, as she once did.
She favours buying new property off the plans in growth areas like Hamilton or Christchurch for a maintenance-free investment. She also recommends using a mortgage broker for lending, because they have insights into where the money is, and will be talking to top lending executives.
Head of investment and director of Property Managers Group, Daniel Lem, suggested a hands-off approach to investment in property.
He argued an unlisted property fund, such as those accessed through PMG, would give a good, reliable return and a foothold to diversify into the commercial property market.
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She shared some horror stories about tenants, including stolen hot-water cylinders, an underwater section scam, and the clean-up required after a death inside a property. However, despite the hassles, she said she loved property, enjoying the people as much as the returns.
Founder and Publisher Jacqueline Taylor showed the new JUNO Money Moments videos, created as a financial educational campaign. They feature well-known Kiwis sharing their experiences learning the about finances. See the videos and the event live stream on JUNO’s Facebook page.
JUNO Exchange events cater for investors of all skill levels, from beginners getting their first step on the property ladder to more sophisticated investors.
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JUNO does not contain financial advice as defined by the Financial Advisers Act 2008. Consult a suitably qualified financial adviser before making investment decisions. This story reflects the views of the contributor only. Content comes from sources that JUNO considers accurate, but we do not guarantee that the content is accurate. Charts are visually indicative only.