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.
Read More - Opens in a new window
Commenting is closed
Property News
Return to market form
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
Commercial
NZ proptech start-up scores major investor
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
