– ‘Disgusted’: Kiwi hits out at ‘queen’ of property’s Dubai venture<\/a><\/p>\n\u201cA good family home isn\u2019t always a great investment,\u201d he said.<\/p>\n
\u201cThe yield isn\u2019t fantastic. It doesn\u2019t have four income streams and a 9% net return.\u201d<\/p>\n
He planned to reinvest the proceeds from the sale in other parts of the country.<\/p>\n
Student accommodation in Dunedin and houses in Invercargill were where the numbers stacked up for investors, he said. Another option was buying an older home with a granny flat on a larger section with potential to subdivide in one of the better-quality suburbs in South Auckland, such as Papakura, Manurewa or \u014ct\u0101huhu.<\/p>\n
![\"Property](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/04\/94bea9b6814165c2e46deaf9d961552f.jpg\"\/)
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The three-bedroom, two-bathroom home has new carpet and light fittings, and is ready for a new family to move in. Photo \/ Supplied<\/p>\n
![\"Property](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/04\/86c79a8b87106f378fdac16c4d6e825d.jpg\")
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New vanities were also installed in both bathrooms, the exterior of the house was repainted, and the deck was rebuilt. Photo \/ Supplied<\/p>\n
\u201cIf you sit on that for five or 10 or 15 years, it\u2019s going to pay itself off. And then you either do the development, turn it into 20 townhouses, or you sell it to a developer and let them do it, and just take a cut. That\u2019s honestly where I see the real money to be. It\u2019s not in buying a townhouse and hoping it goes up in value when there are 40 of them in the street,\u201d he said.<\/p>\n
\u201cIt might not necessarily be the property that you drive past and point out to your mates and be proud that you own it, but as long as it\u2019s Healthy Homes-compliant and as long as it\u2019s safe and it\u2019s giving somebody a home, then it is a good viable asset and product.\u201d<\/p>\n
Goodey said that he was sad to sell 120 Knights Road, but he had to accept that the home no longer suited his stage of life.<\/p>\n
\u201cWhen you\u2019re not in that age bracket anymore, then you don\u2019t need that amazing family home anymore. Like if I move to Auckland and I buy something up there, I probably won\u2019t buy anything bigger than two bedrooms. I just don\u2019t need it.\u201d<\/p>\n
– 120 Knights Road, in Lower Hutt, is for sale, deadline closing April 8<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"– Steve Goodey is selling his Lower Hutt home to reinvest in higher-yield properties. – He described the…\n","protected":false},"author":2,"featured_media":367458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,1258,111,139,69],"class_list":{"0":"post-367457","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-latest-news","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/367457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=367457"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/367457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/367458"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=367457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=367457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=367457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Property](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/d9ae0125ea2f8f309d9a5bfc6db1d3df.jpg\")
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