Auckland apartment living and investing is on trend. It has been nicely helped along by the massive growth in standalone residential property values and the continuing RBNZ LVR restriction which has locked out many first home buyers.
Our Prime Minister John Key also made headlines when he suggested first home buyers in Auckland might have to consider an apartment in order to get onto the property ladder. While investors clearly make up their own minds where to invest the comments made by John Key did fall on the right ears and apartment sales are up. Investors are buying them including Grant Hoey’s mentoring clients and home buyers are purchasing them too.
Auckland Apartment investor and mentor Grant Hoey says:
2014 surpassed all my expectations both with the volume of deals done and the profit made. My mentoring clients and I traded (buy, renovate, sell) more apartments in 2014 (than previous years) and we also secured some very good long term hold positive cashflow purchases. Rental demand is increasing in Auckland, and the lack of rental properties available has pushed up the rental rates (in the Auckland apartment market).
Grant’s new eBook “Auckland Cashflow Apartments in 2015” includes recent apartment deals done by him and his mentoring clients during 2014. Information on the apartments’ purchase price, costs, sale price and profit made is in the eBook.
Written by Mobilize Mail for PropertyBlogs.