Young Aucklander fails to get onto property ladder - Property - NZ Herald News

Once again I’m left SMH (shaking my head) as I read the following

“A two bedroom unit in Onehunga has sold for $453,000 at auction this afternoon.

The 111A Church St unit with modern kitchen, polished floors, deck and freestanding garage was featured in the Herald today as the home young Aucklander Ben Saunders was hoping to buy.

The 27-year-old builder had been saving for two years for a $30,000 loan deposit and was hunting in the low to mid $400,000 range.

His hopeful entrance into Auckland’s property market was compared to fellow Aucklander Georgina Kupa who saved $3300 for a loan towards her first home in Papakura in 1969.”

Young Aucklander fails to get onto property ladder – Property – NZ Herald News.

yup, that’s right, they compare unit purchase in Onehunga with a house and land purchase in Papakura in 1969…. what the?

It’s these stories that boggle the mind and if you are a youngster trying to get on the property ladder you start to feel like the world is against you, yet in my opinion it’s easier than ever to get on the property ladder these days, the biggest thing to remember though is that now, just as it was in 1969, you must make sacrifices and I’m sure one of those sacrifices Georgina Kupa made was deciding on the location she would live in.

I would recommend two possible alternative to buying a unit is Onehunga:

1. Buy a 2 bedroom unit in Manukau – the city is growing fast.

2. Buy a 2 bedroom townhouse in Hamilton – rent it out, the growth from Real Estate as always going to outpace your ability to save.