Our clients were looking for a high yielding property, so we suggested considering a unique property type that would allow for a maximum rental return. We purchased this 4 bedroom, 2 studio sleep outs, 2 bathroom property for $589K in Hamilton. The property was being rented on a room by room basis…
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With two investment properties already, our clients wanted to diversify their portfolio by investing outside Auckland, so we took them to Hamilton. The property we successfully purchased for them is on a larger than normal site (753 sqm) in a popular established suburb of Hamilton. This 1960’s brick house has 3 bedrooms and a floor…
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We are currently in the process of Project Managing the subdivision and development of a new residential build in Auckland for our client. We originally bought the property on behalf of our client, knowing that there was subdivision potential. Having navigated the resource consent issues, you can see we are now nearing the end of…
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During the month of October, several regions around the country reached new record median prices, while at the same time, Auckland stopped to take a breather. While the volume of property sales was up 4% from October last year, they fell 19% compared to September. While Auckland may look to have stopped in its tracks,…
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This recently purchased investment property is the perfect addition to our client’s property portfolio. Our client already owns one property in Auckland, and had plans to buy a second investment. But recent changes to the LVR rules meant these plans were going to be put on hold. We suggested Hamilton. With a strong capital growth…
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Auckland home prices are up more than 20 per cent in the past year. If you’re a buyer from China or the US, they’re not. The slump in New Zealand’s currency has made properties in the country’s largest city a bargain for foreigners, creating a headache for central bank Governor Graeme Wheeler, who has been…
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The Reserve Bank (RBNZ) recently proposed a 70% LVR restriction for investors in the Auckland property market. While it was tempting to jump straight out of the gates with a comment, we thought it would be more useful to wait for the RBNZ’s discussion document and provide a deeper analysis of their announcement. In this…
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Update – New Rule: Interest Rate rise for 5 or more rentals Some of you will be aware that the RBNZ has been looking at introducing new capital requirements which would essentially make a new asset class and would mean banks would have to have more capital for lending to what it considers “professional property…
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Despite what we might have called “pre-election jitters” dampening the market a tad, the housing market rebounded in October, and is lining up for a strong finish to the year. Increased mortgage lending that is recovering from 2 year lows, cuts to fixed mortgage rates, and net migration at record highs all provide strong support.…
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Market Commentary April 2016
The last month – Highlights on key market indicators Interest Rates: The RBNZ cut the OCR by 25bps last month – down to 2.25%. It cited slowing global growth and declining inflation expectations. We may see an even lower OCR. What does this mean? Interest rates are unlikely to tank any time soon. Net Migration:…
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