02 Oct 15
Property legend Martin Dunn knows every single apartment in Auckland and he’s happy to share his expertise with investors and owner-occupiers.
Ask anyone involved in Auckland’s red-hot property scene to tell you who’s top of the tree in apartments, and invariably the answer will be ‘Martin Dunn’, and his respected specialist agency, City Sales.
“I figured out very early on that apartments were going to be the next big thing,” says Dunn, who moved into real estate following early success in the horticultural industry as a manufacturer of potting mix.
“I was working for a well-known agency and when I told them my theory they simply said that I was crazy!”
“At that stage, in the early 1990s there were only 8 apartment buildings in the city, with a total of 226 units.
“These elegant period buildings tended to be favoured by arty people and were generally tightly-held, which means that they rarely came to market”.
THEN EVERYTHING CHANGED
The stock market crash of 1987 saw the CBD saddled with abandoned commercial premises, many of which were eminently suitable for conversion to apartment blocks.
“I’m very big on research and
analysis so I took it upon myself to go around and chat to the burnt-out old janitors. I wanted to find out everything
I could about these buildings.”
“I knew that if we could get more people living in central Auckland, a better infrastructure would soon be necessary and as it’s turned out, that’s exactly what’s happened.
“Luckily Auckland City Council
could see this potential too, and they quickly allowed for this type of development so I dropped everything - and dived into the apartment scene.”
TIME TO SPECIALISE
Dunn and his wife Shelley set up City Sales in 1997 and since then they’ve witnessed phenomenal growth in the apartment market.
“Exactly as I predicted,” laughs Dunn, pointing out that by 2014 there were 460 buildings with a total of 26,000 units in Auckland.
“And that’s what we need for a truly international city. Right now Auckland is really coming into its own.”
With around sixty properties listed every month, City Sales staff know their market inside out.
“Every salesperson goes through an intensive training programme, and the people who teach them are the very best in the business. We expect the highest possible standards from everybody in this company” says Dunn.
“As well as investors we’re now seeing lots of owner occupiers and first-time buyers so we’re constantly developing our systems to meet these people’s needs.
“It’s worth noting that a lot of the new apartments which are either completed or part way through the development phase are selling-on already and investors are doing well with them. The average price per m2 in the secondary market is now exceeding $6000.”
KEEP IN TOUCH
City Sales’ clients can stay in step with Auckland’s property boom and keep track of how the apartment market is performing by means of a regular, quarterly ‘Apartment Report’.
This analysis of City Sales’ own sales is bolstered by Martin Dunn and his team’s comprehensive research into other, related, areas -such as price per square- metre, rents, and investor-to owner-occupier ratio.
“We have the most educated agents in the city, and the ‘Apartment Report’ is available to anybody who requests
it,” says Dunn.
“My agents are hand-selected for their genuine interest in the Auckland CBD and they are expected to study and report upon city sectors and investments on an ongoing basis.
We quite literally live and breathe city apartments here.”
Dunn is at pains to point out
that prospective apartment buyers
don’t need to be confused by terms
such as freehold, leasehold,
unit titles, encumbered
City Sales is Auckland’s largest independent apartment specialist. Set up in 1997 it has been leader in its field for more than 18 years. Request a copy of the City Sales Apartment report by email firstname.lastname@example.org or call (09) 3030 601.
“Here at City Sales we can help
you though the process and make
sure that you understand what’s happening. We speak in plain English with our clients and in fact, we’ve become famous for our motto
‘Tell it like it is’”
By NZ Apartments Magazine
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