NZ What a great place to live.

Posted on Tuesday, June 17 2014

Basking in the midday sun today I couldn’t help wondering how the population in the UK was enjoying their summer today with only marginally higher temperatures, colder water and rain. Perhaps that’s what Brisbanites think of us in the winter but I’ll bet they would be happy to enjoy our more bearable summers. Most New Zealanders live within a 15 minutes of a beach and numerous outdoor activities are close at hand. Yet many claim our property prices are too expensive – but why shouldn’t they be – its a great place to live! Sure our wages aren’t that great but there’s plenty of cool free stuff to do!

I wonder how many of the estimated 80,000 rugby world cup visitors will realise or be reminded of the same thing? Some will want to live here but many may also want to be investors. Close to 10% net returns on apartments and some low cost housing? A dream come true for most of the investors in the world. Certainly far better than is achievable in Australia, and for sure a huge number of the visitors will be Australian. Not as good as much of the United Stated mind you, but that’s another story.
This is just one of the strong reasons that I believe property prices will be underpinned. However significantly more so in Auckland with continuing earthquakes in Christchurch and a diminishing public servant base in Wellington. (Areas perceived as safe in Christchurch however could well increase in value, especially whilst rebuilding of damaged homes and new subdivisions are created).

I am noticing that an increasing number of Auckland suburbs are tipping to become a sellers market. Sales numbers are still quite low but that is substantially an issue of there being too few properties for sales – and the lack of choice is frustrating buyers.
Whilst the investment market is looking favourable again (despite the tax changes), things aren’t looking so great for traders with the REAA crackdowns and new ruled preventing GST being claimed back for property. It is more important that ever to make sure you are well advised by your accountant and Lawyer and don’t forget about your Valuer either!

Happy investing

Rene McLean.

 

 

 

 

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Property InDepth Rene McLean

Rene McLean - Auckland Franchiser. Property InDepth is New Zealand\'s only fully franchised property valuation and property consultancy service. The only valuation service that can provide comprehensive reports to you, within hours of completing the inspection. So relax and enjoy the experience, that's what we are about.

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