Andrew Nicholl

speaker

9,590 appearances 124 recordings 1 series first heard Apr 2026 last heard yesterday

Andrew Nicholl’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 124 in all, peaking in Jul 2026 with 29.

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The Property Academy Podcast · Should I Renovate Houses Or Build New? [Real Numbers] · 10 Sep 2026 podcast

alternative, what I'd originally recommended was an Auckland property, 100% debt, 950 purchase price.

So on the higher side for Auckland and the total deposit required based on a new build investment is 190 grand.

So all up, they're putting in about the same as the deposit required on the existing property, but they don't have to fund the renovations as well.

So they're over 100 grand better off of usable equity.

So that's a win for the new build strategy in this example, right?

But there's no instant equity.

They don't make any money instantly.

They don't get to revalue that property and make 100 grand overnight like they do with the renovation.

So that's a loss to my strategy.

Now, because Auckland historically has had a higher growth rate more often, I am more comfortable using a higher capital growth rate moving forward.

Now, past performance doesn't guarantee future performance, but we're using some sense here around why we'd use 5% growth in Christchurch, 6% in Auckland.

And given that I think the room by room property is going to have a more limited market, I probably went out of my way to kind of bolster up the Christchurch property because I didn't want this to look like I had sour grapes.

Oh, no, your idea is rubbish and mine's so good.

Yeah, OK, well, cut to the chase.

increase in value in 15 years on the Auckland property, that higher growth rate is $1.3 million.

So about another 280 grand.

OK, so

you've taken with my spreadsheet.

And look, this isn't to say that the first strategy is terrible and makes no sense for anyone, because in fairness, these guys, they've got a really good business and really good income.

So I actually think for them, they should focus on building that and having their properties quite passive as passive investments, and they've got their active strategy with their builds.

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