• Menu
  • Skip to primary navigation
  • Skip to secondary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Property and Tax Guides

Online Publications

Header Left

Logo for Property and tax guides

Header Left

Logo for Property and tax guides
  • Home
  • About
  • Shop
    • Checkout
    • My Account
    • Terms and Conditions
  • News
  • Contact Us
  • Terms and Conditions
  • Basket
  • Home
  • About
  • Shop
    • Checkout
    • My Account
    • Terms and Conditions
  • News
  • Contact Us

Auckland Residential Property Market

2nd December 2015 By //  by Andrew Ross

Is it still time to buy that investment property?

The current indicators:

  • Whilst house prices and volume sales for Auckland residential properties were down for October,November has shown signs of a pick up. Governor Wheeler has indicated no OCR rate hike in the short term to counter the heat in the market demand. Indeed ,there are signs that actually there will be a likely 0.25% cut in the OCR maybe around March 2016, Many banks have already factored this in to their current fixed rates.
  • House price unaffordability has hit new highs in Auckland and is now ranked number 2 in the world .
  • Whilst dairy export prices are low and have a difficult time ahead, GDP has remained at around 2.5% for 2015 and expected to be above 2% for 2016.
  • As long as mortgage interest rates remain low, people will continue to want to get into the market whilst they can. Fixed rates have come down to now 3.99% for a 1 year term. Rates are expected to remain stable for at least 18 months although increasing by 0.5% in 2016 as the banks recover some margin.
  • Auckland population was said to be rising by 25,000 pa . At the moment this seems an understatement as the annual net migration level for 2015 was at a record of 62,500( the majority coming to Auckland). Expectation is Auckland will be at the 2M mark by 2023.
  • 6,600 new apartments are being built over the next 2½ years around Auckland. But excess demand is expected to be at least 4000 in 2016 alone. So already there is a large shortfall.

 

What does this mean? Without the need for a crystal ball, we think prices in the Auckland area will continue to rise for at least 18 months. What then?…….

Filed Under: news

Previous Post: «Battersea power station flats Are London prices finally stabilising?
Next Post: NZ residential property rental market 2015 »

Footer

Sheengate Publishing…

sheengate250x250
  • Eleven lifestyle titles, two websites and a portfolio of property magazines established over a 15 year period
  • Exceptional door-to-door distribution to over 200,000 AB1 homes
  • Distribution across five of England’s top 10 richest boroughs
  • National standards of local journalism
  • Local magazines that act as a badge of residence to readers and inspire a loyalty in their advertisers

Goodfellows….

goodfellows250x250

…Land & New Homes

As a specialist department we are able to assist both land owners and developers respectively with a bespoke service tailor made for each individual situation.

Firmly established in Epsom, local to the famous Epsom Downs Racecourse & RAC club, and working from private offices Goodfellows Land & New Homes has successfully been involved in delivering quality brand new properties to the area.

Debs Wallace…

250x250-Debs-Wallace

Real Estate Auckland NZ

With over 13 years of experience in the high end luxury market and spectacular results with over $525 million of proven sales the expertise speaks for itself. The Harcourts Luxury Property Division is the perfect platform from which to market your property. I offer a true boutique experience, a beautiful luxury brand with national and international exposure and a proven track record of working with buyers within our Asian communities. A winning combination. List with me because quite simply I can sell and results speak for themselves.

Streets Ahead…

250x250-streets-ahead

South London and Surrey

New Homes
Our award winning New Homes Division has been voted by the Times and The Sunday Times as one of the top 3 estate agents specialising in New Homes from small developments to the creation of new villages.

Elite & Elegant
We understand that some properties require a more specialised, tailor made approach. Our elite and elegant service, whether it be locally or internationally, will find you the perfect buyer.

  • Terms and Conditions
  • Basket

Copyright © 2023 · Online Publications Ltd · Website by Alirat Ltd · Log in