Tag Archives | Grant Hoey

Auckland

An Auckland Apartment Is A Good Bet In 2017

Investing in Auckland apartments is a great way to get on the property ladder says a couple of property experts. Dave Windler of Mortgage Supply and long time apartment investor and mentor Grant Hoey agree there’s a lot more demand for Auckland apartments from first home buyers and it’s not just investors signing on for inner city apartments mentoring. Grant Hoey has provided his Auckland apartments mentoring service for over 10 years and says many of his clients are first-time buyers seeking support and guidance with the ever-growing apartment market.

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Investors Profit From Auckland Apartments

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.

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Apartments Values Up 20+ Percent

Auckland 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.

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How To Buy An Apartment Tips

Whether you’re buying an Apartment to live in, rent out or trade there are some considerations that are unique to this type of property. Apartments will have a Body Corporate with rules that need to be adhered to and the Unit Titles Act is the law governing buildings with multiple owners each holding a unit title on their apartment.

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Apartments In Demand – Grant Hoey

Actual property sales in Auckland has decreased over the last couple of months however property values have continued to climb. During the last year 15 percent has been added to property values. The RBNZ continues to impose the LVR restrictions on loans so Banks are can only lend up to ten percent of all new lending to home buyers needing to borrow more than eighty percent of the value of the property.

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