# Property:Development:81.Selling #

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Developing property, unless you can build a house in a much cheaper way than the general market (and if you can, please tell me how!), you're not going to get your money back from renting -- only selling.


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## Notes ##

* In 2017, the average sale price for a home in the Wellington *region* was 600K((https://www.stuff.co.nz/dominion-post/news/92141763/average-house-price-hits-600000-across-wellington-region)).
* In 2018, the average sale price for Wellington (not region), was $615,800 ((https://www.enz.org/house-prices-wellington.html)).
  * Rising about 8% (50K) a year. 
  * Note that we're talking about Wellington, not region.
* Brooklyn((https://blog.homes.co.nz/wellington-median-house-price-by-suburb/), median price in 2018 was 800K
  * As a comparison in 2018, a a current [per suburb chart](https://blog.homes.co.nz/wellington-median-house-price-by-suburb/) gives: 
    * Roseneath 900K (close, and view of bay), 
    * Hataitai 900K (close, but leaving the office behind a ridget)
    * Highbury: 872K (close to offices)
    * Island Bay was 850K 
    * Lyall Bay 800K, 
    * Brooklyn 800K (which is equal to average for Wellington City: 796K) 
    * Karori 780K
    * Makara: 650K (makes sense due to traffic jam)
  * Prelim conclusions: 
    * Brooklyn still has some growth in it, but it would be a mistake to think its Highbury or Karori. Just doesn't have the infrastructure, schools, sun and enclaveness (Karori), or closeness to offices (Highbury). 
    * Still can't see what people see in Island Bay that makes it better than Lyall Bay. It's unswimmable, windy and smelly. Then again, Lyall Bay is doing its damnest to make ugly architecture right on the beach.
    * Hawkins Hill would be half way between Brooklyn and Makara ($725K) -- but it doesn't have the infrastructure (schools, bus, water, cable), but has the views (but so does Brooklyn, to a certain level, and the best of times).

* Average (Rent per Suburb for 3 bedrooms](https://www.enz.org/house-rents-wellington.html):
  * Island Bay: 647/week
  * Roseneath: 710/week 
  * Brooklyn: 650/week (which at 650*4=2600 is going to cover 450K build, but not pay off the land).
  * Karori: 460/week
* Average increase in wellington house price was >7% in 2018((https://www.qv.co.nz/property-trends/residential-house-values))


## Tips ##

* "Consumers pay per number of bedrooms".
* Market *may* be getting weaker((https://www.interest.co.nz/property/97643/reinz-highlights-extremely-quiet-december-lowest-nationwide-house-sales-volumes-seven)).


## Resources ##

* https://www.interest.co.nz/property/97643/reinz-highlights-extremely-quiet-december-lowest-nationwide-house-sales-volumes-seven