Super homes on the way

Thursday 5 August 2004

The age of the standard $3 million super-home is here and the Shore is leading the way.

By The Landlord

There's a chronic shortage of new homes in that price bracket in Takapuna and the Auckland region, a property developer says.

"Buyers are snapping up homes worth $3m to $4m of approximately 400 square

metres. We can't make enough property to satisfy demand," Manson Developments marketing manager Steve Clark says.

Jean Smith, New Zealand Real Estate Institute Auckland president, says Auckland still remains "value for money" compared with other large cities overseas.

For the past few years, the higher priced properties were undervalued, and there is still a lot more catching up to do, she says.

That comes as latest figures reveal the steepest drop in home affordability in almost a decade, with Auckland leading the way.

Read More - Opens in a new window
Commenting is closed

House Prices

No stopping Capital price rises

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.


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.


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.

Site by PHP Developer