The restriction measures by the Government and RBNZ have failed to dampen property prices in Auckland for more than a few months. March 2016 saw a return to the market we’ve come to know, one that’s on the rise. Average property prices in Auckland have done an about turn and reached a record high price of $834,500, which is 2.5 percent up for the month and 16.5 percent on the last 12 months.
Property value growth in the last five years is even more impressive with the average home growing by 66 percent or $332,300. If you have been investing in Auckland and have five or more properties your combined equity may be a million dollars or more. Property for Auckland homeowners has been a very smart investment.
PropertyTutors owner Sean Wood says increasing property values is working for his investor clients. They are buying below market value, adding value with renovations and selling for a profit. The 70% LVR did slow the growth and Sean’s clients did take a bit of a breather for a few weeks while they analysis their options. Most investors have worked out a strategy to continue to invest in the Auckland and as we’ve seen the Auckland property market has broken free with sales volume and sales prices up.
The Property Masters events in Auckland and Wellington with be popular with investors seeking strategies to build their property portfolios.
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