#2 – Mount Roskill
What people are spending: $1,066,700
Yield (rental return): 2.7%
How fast prices have grown: 5.9% since January 2000
Mount Roskill is Mount Albert’s younger sister.
If Mount Albert is on its way up, Mount Roskill is about 6–7 years behind. From an investment perspective, that can be where the opportunity lies.
It’s also a suburb with a large tenant base. Nearly half the people who live in Mt Roskill are renters.
And when we look at our tenant data, Mount Roskill and Mount Albert are similar. There is a key difference, though. Younger families in Mount Roskill prefer three-bedroom homes over two-bedroom properties.
The Roskill Development is already underway. It is a large regeneration project.
Around 143 hectares of old government land is being turned into a new neighbourhood. It’s similar to Hobsonville Point in that new communities, gardens, play areas and cafes are in the pipeline.
The government wants 10,000 new homes built over the next 10-15 years, according to Kainga Ora. That includes:
- 3,000 state homes
- 3,500 affordable KiwiBuild homes and
- 3,500 homes built by private developers.
On top of that, a lot of money is being spent upgrading infrastructure. Watercare is part-way through a $95 million programme to improve water services in Mt Roskill (e.g. pipes, pump station, reservoirs, etc.).
Location-wise, it’s also practical.
You’re roughly 15 minutes from both the CBD and the airport. There’s easy motorway access, and you’re close to industrial and employment hubs.
As transport links improve, including the City Rail Link, it will be even easier to get around.
