On the fringe
Monday 8 March 2004
Real estate agents working the Freemans Bay/St Marys Bay/Ponsonby area discuss the on-going demand for inner-city living.
By Vicki Holder
"The impact of [a downturn in] immigration doesn’t hit us so much because there are always going to be more people who want to live here than properties for sale." Simon Damerell, Ray White, Ponsonby.
There’S a growing breed of Aucklanders who work hard and want to play hard without having to waste precious time commuting and waiting in traffic queues. They work in the CBD, earning good money and can afford the big mortgages demanded by the city-fringe suburbs of Freemans Bay, Ponsonby and St Marys Bay. Perhaps that explains why several weeks ago on the first open home for a property at 22 Hepburn St in Freemans Bay, Ray White Ponsonby agent Ann McDonald had more than 300 people through the property.
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Commenting is closed
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.