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ok, Flatbush roughly cover 2 area, the southern part that very close to Otara and so-call 'Maori / Islander' area, location there isn't good for obvious reasons.
But the north part of Flatbush (Mission Height. Ormiston), it's much better district and property price raise VERY rapidly in recent 2 years.
I think at beginning phase of Ormiston town center planning (around 2010 / 2011?), they foretasted the residential properties around that area will be 600-700k, which is a very fair assessment at that time.
But now we are at 2014 and new properties is all close to million dollar mark. Maybe after a few years they'll build a lot terrace house / apartment there and cost around 600-700k, I don't know. As of now, I think it's fair to say the capital gain in Mission Height / Ormiston is very good, if not THE best in eastern suburb in past 2-3 years.
What happens next is up for everyone's guess, the general consensus is it will still raise but not as rapid as before (pretty much just like rest of Auckland...). Having said that, I believe when new Ormiston town center complete (around 2020?) it gotta bring another wave of capital gain in that area.
Personally, I think the mid-long term outlook of this area is still good because of the Ormiston town center.
A lot of people say Mission Height / Ormiston is too far from city and motorway etc... But I think compare to Howick, speaking from a pure traffic's point of view, Mission Height / Ormiston is closer to both 1 and 20 state-high way and is easier to get around to city and other parts of Auckland.
The above is just my 2 cent's worth, I'm not a property expert or anything, just my thoughts :) |
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