Crusader warns city risks ghetto status
Wednesday 25 August 2004
Auckland's apartment boom risks transforming the city into a ghetto, says Australian author and property ethics crusader Neil Jenman.
By The Landlord"These are more like matchboxes than shoeboxes," Jenman said, pointing to a group of the city's new apartment blocks.
He arrived at the weekend to run a series of free seminars that reveal real estate agents' tactics but said he was particularly shocked to see tiny units rising in the city, the blocks so close together and their designs so offensive.
"This is scam-central," he said of the many apartment blocks being built on the steep Liverpool St near the Queen St/Karangahape Rd intersection. "We built places like this 10 to 15 years ago in Australia and now they are slums and ghettos."
Read More - Opens in a new window
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.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
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.