How To Buy An Apartment

Thursday 30 September 2004

Inner city living continues to boom in Auckland, with a raft of apartment blocks due to come on stream. But potential buyers should beware of the pitfalls.

By The Landlord

BNZ economist Tony Alexander warns the Kiwi property market has reached a cyclical high and is heading downwards.

As a result, he says, "the list of negatives" is growing, including rising interest rates, slower population growth and a boom in apartment supply, particularly in Auckland.

And that's before you begin to assess and compare the individual apartments themselves.

At the end of last year, there were more than 8,500 apartments in Auckland's central business district. Another 7,770 were in planning or being built, according to Bayleys Real Estate.

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