HALF PRICE MARKET GAINING TRACTION
Yes I’m late but I have an excuse.
My apologies to faithful readers for this late comment but a few things have happened since the Blue Chip debacle erupted.
For one I got sick – I think the enormity of the damage done actually got to me.
If you have tried all those weight loss treatments and failed try surgery combined with gastroenteritis + campylobacter at the same time.
It works I assure you.
And to recuperate Shelley is sending me to Crocodile Bay in Costa Rica for a week’s fishing with my mad mates. She tells me swimming will be good for me.
Anyway, as it’s not really all about Martin, to the market:
Our December/January radio campaign pushing the Apartment Market as the “half price market” (meaning half replacement cost) seems to be gaining traction with last week’s Auctions seeing 7 out of 8 sold under the hammer.
A few people got hurt but at least we can provide unconditional bidders and in big numbers.
Our Auctioneer, Neil Newman, had just come from auctioning 8 houses in Kohimaramara and told us grimly he sold all bar seven of them. So it is a markedly different story in the City.
One of our Rental Agents let 41 apartments in February alone leaving us short of rental stock again and justifying our stance that the Apartment Market is in a very robust state indeed.
Given the chaos in finance markets I think our prediction of very few new apartment developments being built for the next 5 years is looking conservative.
It may in fact take a decade for development funding to be available again.
With the “supply factor” gone from our market and the prices Vendors are letting investments go for there are going to be a lot of very wealthy apartment investors around in 5 years time.
If my arm is not ripped off by a crocodile I promise a timely April update.
And if you buy something off us in the next fortnight I will be able to pay the Amex when I get back.
Good luck.
MARTIN
