Analysis of New Zealand’s housing stock by OneRoof and its data partner Valocity has identified the regions and suburbs with the biggest share of homes built since 2010.
House buyers looking to snap up a new-build townhouse or apartment in New Zealand are likely to have better success on the fringes of Christchurch and Auckland than anywhere else, new research suggests.
Ramada Newmakert is a new, hot listing in DGZ Newmarket that is OIO Exempt that we have just listed so call us soon to grab the handful that are left – northeast facing with views! Priced from $798,000, these are right by the new Westfield Newmarket and are great buying and due to be completed in July 2021.
In other positive news, many headlines illustrate the downturn in the local economy is not as bad as feared it may be and property prices and sales being surprisingly strong! The historical low interest rates are driving this as buyers are keen to fix at mortgage interest rates below 3% for the first time in their whole lives. Some examples of the positiveness are below:
REINZ: Time to buy? Auckland rental returns hit the sweetspot – when rental yields are better than mortgage rates, investors should jump in, says REINZ expert.
OneRoof – 119 bidders, 11 homes, and a $3.1m sale: Buyer frenzy drives up prices as buyers pack auction rooms ‘to the rafters’ for first homes, investments, and a luxury estate.
OneRoof – 300 people, two brick and tile units: Aucklanders go nuts for granny flats with sound build, good neighbourhoods boost 1970s gems to top of house hunters’ lists.
OneRoof – Nearly 100 buyers chase $4.15m house Luxury Auckland home sells for almost $1 million above CV as demand soars for prestige property from expats returning home.
In Auckland, it is especially strong and the city is experiencing its biggest boost of $1m-plus property sales since 2016, and it’s not the only region on the rise.
In June, Auckland real estate sales up on a year ago with an influx of first home buyers and pent up demand brings the housing market back to normality –
OneRoof – Hunger in the Tron: ‘Crazy’ demand sends house prices to new level Call for new listings as Auckland buyers put pressure on Hamilton’s housing market.
In other news, family trusts are under the legal spotlight with new legislation coming in by Dec 2020 which requires much more compliance and regulations – it is estimated between 300,000 to 500,000 trusts may not fit the new regulations and may be wound up by the trustees instead of incurring high new compliance costs. Look Though Companies (LTC’s) are likely to become the chosen vehicle for investment property in the future.
Love affair over: Families move to wind up trusts
However, it is not all chocolates and roses, with Bill English warning there will still be challenges in the future to some businesses especially.
Former PM advises business to get ready for a long haul.
It all depends on your personal situation and whether you are a “half glass full” or “half glass empty” personality but certainly demand and opportunity is high in the residential property sector currently!