Older investors are helping fuel a resurgence in the inner-city Auckland apartment market.
The sector is bouncing back after two years suffering from leaky building fears, over-supply and banks refusing to lend the same percentages on “shoebox” apartments as other properties.
Last year’s Auckland City Council valuations showed inner-city values had dropped by 3 per cent, compared with an average increase of 12 per cent. Read the rest of this entry »
Mortgagee sales are tipped to quadruple in two years, and at least one expert is predicting an Auckland surge much sooner.
Property watchers say many homeowners are struggling as high interest rates, tightening credit, job losses and falling values hit home.
Bernard Hickey, managing editor of interest.co.nz, predicted the number of mortgagee sales would double to quadruple in the next two years. He said property listings on TradeMe and RealEstate.co.nz containing the word “mortgagee” had doubled to almost 400 in the past three months – 0.4 per cent of the total market. Read the rest of this entry »
apartments auckland Barfoot & Thompson Bayleys Bernard Hickey Books Brendan O'Donovan Brian Easton capital gains centre for housing research City Sales Clayton Cosgrove Crockers Property Group depreciation Dominick Stephens first home buyers fraud Graham Smith Helen Gatonyi housing costs Huw Evans investment ird Just Rentals Lighter Quay Martin Dunn Maryan Street new zealand Phil Heatley planning property Rachel Dovey rent rental market rental properties rental yields Residential Tenancies (Damage Insurance) Amendment Bill spending Sylvia Lund tax rates tenant liability Terry Rota trademe vice Westin Hotel
WP Cumulus Flash tag cloud by Roy Tanck and Luke Morton requires Flash Player 9 or better.