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Should I invest in the Waikato? 


Wealth Works Property Specialist and Authorised Financial Adviser, Amy Wilkes discusses the merits of investing in the Waikato Region...

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Having seen 27.5% growth in the Waikato over the last year, (higher than any other region in NZ), a lot of people are asking me “should I invest in the Waikato right now?”  While that is a very broad question and a hard one for me to answer without one’s personal budget, goals and time-frame in mind, there a certainly a few great things going for the Waikato right now. 


The Waikato Expressway
 
First and foremost the expansion of the Waikato expressway which is due to be completed in 2019. This will close the gap between Auckland and Hamilton allowing easier commute for individuals.  Businesses have also realised the benefits of setting up shop in Hamilton and are taking advantage of lower costs, while still being within close proximity to NZ’s central hub, Auckland. 

Once upon a time, Albany and Orewa were not part of Auckland, and were considered to be farm land up north. When the motorway was extended through to Puhoi, it allowed easier access and we saw new housing, schools, shopping centres, and business parks move to the area. Those who invested in this region before or as this growth was happening will be very happy with their investment I’m sure. The gap between Auckland and Hamilton is closing, and it’s on the cards that we will see new development and infrastructure in the Waikato too.  

Auckland has been growing significantly over the past four years, whereas Waikato has only seen this growth over the last year. As the Waikato’s economic cycle tends to run a few years behind Auckland, it’s possible we could see further catch up in the Waikato when Auckland starts to slow.

The Inland Port | Ruakura
Another key factor going for the Waikato is the Inland Port to be built in Ruakura. This will be a $3billion dollar project and expected to create 12,000 new jobs over the long term. New development and infrastructure such as this project will bring new people to the area creating a push on the supply demand curve and inevitably flow on to increasing people’s property values.

Internal Migration
Finally, we are seeing a trend of people moving from Auckland to the Waikato to live as it is still so close to Auckland yet housing is more affordable. We had a great example last week when I met a young family who are currently renting in Auckland and have just purchased their first home in Hamilton. He is works at a Bank and she is a School Teacher. They were struggling to buy their first home in Auckland due to the average Auckland price nearing $1million so they have purchased their first home in Hamilton where it is more affordable. They will still earn the same income in Hamilton, however they’ll have less financial commitment, allowing them to spend more time with their young growing family. 

To summarise, investing in the Waikato could certainly be a lucrative option.  Make sure that before you make any investment, you seek professional advice to ensure that it fits with your long term goals, your budget, your tolerance to risk and your desired lifestyle.  

Are you considering property investment? Make sure you talk to an expert today on 09 306 5820.
Amy Wilkes | amy@wealthworks.co.nz

 


 
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