Duncan Garner: Found! A house in Auckland for $339k

25/03/2014

Hey! I’ve found an affordable house in Auckland! Finally.

It’s just 34 kilometres south of the city in Papakura. Have a look – don’t miss out on this absolute bargain.

A number of you told me I was looking in the wrong place last week. You told me to head to South Auckland, to Manurewa and Papakura. You told me that’s where I’d find the affordable houses.

You told me first home hunters in Auckland had to lower their expectations. So I’ve done that.

Let me start with one of the cheapest I could find. It’s still not cheap, but it’s cheap for Auckland, right? All you need is $68k as a deposit and this is yours (for $339k).

I’ve even done the maths for you and been to the bank: you can take a mortgage out for 30 years at 5.6% and pay $716 a fortnight – that’s $358 a week for the next 30 years.

So, what does it need? Pretty much everything.

I’d start with an exterior paint job. I’d gut the place,give it a new kitchen, new bathrooms, new carpet, an entire interior paint job and a massive make-over of the yard.

It needs everything doesn’t it? It’s a disgusting rubbish dump lived in by pigs. It looks like a p-lab that’s blown up; although, it may not be of course.

But it is a dive and it is a pig-sty. And it’s still $339k – an hour south of the city.

This is Auckland, folks. This is the cheap, affordable housing you’re told about. You just have to look hard and be prepared to slowly do it up.

The other option is flatten it and build again. It’s a big site, 1222 sqm – she’s huge and flat. But you have to know what you’re doing and have heaps of pinger.

The reality is this is miles from where the jobs are - basically, you’re just buying the land and a pile of trouble. Real estate agents in Auckland call this a "do-up" or "an opportunity". Others call it affordable housing.

How would you describe it? And would you live here?

source: data archive