Our economy is doing well and predicted to continue to do so in 2015. With our low interest rates too the property market is expected to perform well over the next 12 months and this is good news for property investors nationwide.
What we do know now is New Zealand’s property market is no longer a single market. There’s the Auckland property market and then there’s the rest of New Zealand and it’s unlikely the two will ever become a single market again.
Auckland’s property values increased nearly 40 percent over the last 3 years whereas the rest of the country experienced percentages in single digits. Christchurch is having a mini boom due to the rebuilding of the city however once that’s complete in a few years time it’s predicted to fall back in line with the rest of the country (excl. AKL). Therefore we now refer to the New Zealand property market as two independent markets not having much impact on the other.
The LVR restrictions imposed by the RBNZ remain in place for now so first home buyers are not buying therefore entry level properties (up to $450,000) are being snapped up by investors and this too has seen little growth in actual property values.
The opportunities to build up and grow property investment portfolios are abound in New Zealand in 2015. PropertyTutors thankfully have specialist property investment mentors for Auckland and the rest of New Zealand so investors can benefit directly from their current regional expertise and knowledge. Sean Wood is PropertyTutors owner and Auckland mentor while Steve Goodey is the Wellington business owner and mentor.
Written by Mobilize Mail for PropertyTutors