It’s official the Auckland apartments market is the latest to compared to house and land packages in the regions and it’s thanks to growing demand and more options available many not just in the heart of the city.
New Zealand will soon see the rise of a new auction site for renters. Just in on stuff.co.nz Rentberry has confirmed they will be launching here and in Australia. The online service offers renters the opportunity to bid for rental properties. Landlords set the ‘reserve’ or rent level they hope will generate lots of prospective tenants interest and then the bidding war takes off.
Auckland can not bring new apartments online fast enough. Demand for the smaller abode is coming from everywhere. Migrants, offshore buyers, empty nesters downsizing, first home buyers and property investors are all vying for new or newly renovated apartments. The older apartments however are ignored by these buyers and picked up by Grant Hoey’s investor clients whom have enjoyed a profitable 2016 renovating these apartments for on-sale and often achieving the end to end deal in as little as four weeks.
It’s a full house in Auckland and Wellington now the students have returned for the 2017 year. Traffic is heavy and patience is needed as we’re all tested in peak hour. On the home front development is soon to get underway on the huge 57 floor apartment tower call “The Pacifica”. It will have 295 Apartments many will be premium with a price tag to match.
The LVR restrictions have stopped many property investors in their tracks. However some investors have been using a strategy called The Property Staircase and getting amazing results. Property investment education has been on the rise since October 2016 and with demand comes supply. New property experts have popped onto the education scene offering seminar and mentoring services.
Property experts say investors need to push back when they get a ‘no’ from their bank and keep going until they get a ‘yes’. Investors shouldn’t give up at the first hurdle says Dave Windler of Mortgage Supply Company, as there are funding options available to them and there’s also plenty of property experts keen to assist with strategies that work in today’s market.
With ever-increasing costs, Landlords often wonder if they’re doing the right thing using a Property Manager, and it’s a topic that’s discussed a lot on PropertyTalk. Why pay for the service when they could do it and save hundreds of dollars every year per property? Well one reason to not do it yourself is all the rules and legislation. The use of property management firms is increasing due to the complexity of owning rental properties today.
Cranes are taking over the skyline suggesting Auckland is sitting pretty for thousands of new apartments to meet demand. However a renown local apartment investor and mentor says what’s going up now is already sold and with some developments canned in 2016 supply of new stock is falling short of demand.
Donald Trump is sworn in as President of the United States this week and the world as we know it will be a different place. Borrowing interest rates are rising and NZ banks are having to borrow more overseas to fund existing lending commitments according to this news item.
It’s Christmas and time for a property investment feel good story! NZHerald have a property investor story online today. It’s about a young Aussie couple who have invested their way to A$10 million in just six years. Reading between the lines you can identify the couple’s traits used to walk their own path rather than follow the crowd. It’s therefore a must read for young people needing confidence to start their adult life on their own terms.
The clamp down on investor borrowing has landlords diverting their attention from purchases to seeking better returns from their existing property portfolios. Trade Me Rental Price Index confirms recent increases in weekly rent; particularly in Wellington, which is up 7.7 percent for the year to October 2016.
Property Investors have had a lot on their minds recently and now many of them have jitters of a different kind. Mother nature in all her fury.
It’s been a full on year for property investors. First challenge was the introduction of LVR restrictions and the Government’s two year capital gains rule.