Apartments Values Up 20+ Percent

apartmentsAuckland Apartments are valuing up well and evidence of their high demand is now omnipresent. Ninety one off plan apartments near Ponsonby have all sold six months prior to completion and this is highly unusual says a local Bayleys real estate agent. A news item in the Herald on Sunday quotes Trent Quinton of Bayleys who says it’s highly unusual for all off plan stock to sell so far in advance of completion. Some of the apartments had a high price tag too with one selling for $2.5 million.

Trade Me’s Price Index for January 2015 also confirmed an upturn in the apartment market around the country. Apartments average value rose 17 percent (Jan 14 – Jan 15).

Auckland’s apartments are up 21.8 percent; with an average price of $439,150. Christchurch achieved 23.4 percent and Wellington just 3.1 percent. Auckland’s average apartment value is the highest however it still looks really good when compared with standalone property values and it’s why property investors are adding apartments to their investment portfolios.

Grant Hoey an avid Auckland apartment investor and mentor says his clients are still cashing in with Auckland Apartments despite the increase in values. Their stock always needs work done before they are deemed attractive by owner occupier buyers and buy and hold investors. Grant along with other expert property speakers will inform attendees at the Cashflow Apartments Seminar on 15 March why it’s a great time to invest in Auckland Apartments.

This blog article was written for PropertyBlogs by Mobilize Mail.

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