Auckland reports a slow in growth

 

New Zealand’s Real Estate Institute figures have revealed that the median house price in Auckland has risen by just 2.5%, while the rest of the country has grown 11.4%.

The figures have come as something of a surprise since Auckland led the house boom – in July 2015 its property prices were increasing at a rate of 27.1%.

https://www.buyassociation.co.uk/2017/05/12/property-plays-large-part-nz-economy/

Sales volumes across New Zealand have also continued to decline – in Auckland they are down 33.2% for the year to June, while throughout the rest of the country they are down 24.7% for the same period.

“We know that it’s winter and the election is just two months away now which typically impacts the number of properties sold in the market,” commented Bindi Norwell, chief executive of the Real Estate Institute. “The number of properties sold across the country is the lowest we’ve seen in the month of June for three years now – particularly in the $500,000-and-under property price bracket.”

https://www.buyassociation.co.uk/2017/03/29/positive-outlook-nz-property-sectors/

Loan-to-value restrictions and interest rate rises have been cited as the cause for the slowdown in Auckland but, despite the deceleration, the city has still managed to report an annual growth of over 7%.

“The average asking price is still up 7.1 per cent on this time last year, but the rate of increase is down from 12 per cent at the start of the year,” commented Nigel Jeffries, head of Trade Me Property. “It means the significant capital gains of recent years are slowing down but if you’re looking to buy it will be welcome news that the deposit you require isn’t surging at the insane rates we’ve been seeing.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Auckland reports a slow in growth

Auckland reports a slow in growth

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.