16 Mar 15
We’re seeing houses selling in Mangere for over $600,000, Massey over $1m and the pressure continues.
With 14,000 new dwellings required to house Auckland and 4,000 being built we see no slowdown in sight.
Even the Prime Minister is advocating first “home” buyers seek out an apartment.
This growth is also affecting the apartment market – see our updated City Sales Market Report on the front of our web page.
This does not require panic buying but our message to readers is….you have to ACT.
If you don’t have the time let us invest for you.
On a macro view we have 50,000 people a year immigrating to New Zealand, an unprecedented SHORTAGE of accommodation, inflation hovering near zero and banks now offering 5% interest rates fixed for 5 years.
This means interest rates intrinsically should drop further.
The Reserve Bank Governor is forcing the whole of New Zealand to pay more interest than we should solely because he feels he should be the arbiter of Auckland house prices.
The rest of New Zealand is not growing but………you’re paying the price for his strange thinking.
Just remember….you have to ACT.