While the media were focusing on the international economic crises back in 2011, Erskine + Owen were already discussing their prediction of a housing supply shortage. At that stage there was evidence of a growing demand for property, with a declining number of building consents being issued. In 2013 the economy is in recovery mode,…
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We are regularly asked to comment on current property market trends. September 2013 Changes to the new LVR lending criteria could impact on first time home owners, but will it also impact on investors? Director Lisa Phillips was recently asked to comment on this by the Commonwealth Bank of Australia. Click here to read the…
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From October 1, New Zealand banks will only be allowed to issue high loan-to-value-ratio mortgages on just 10% of all their loan business. What will the impact of this new LVR lending criteria mean for investors in the NZ Property Market? Director Lisa Phillips was asked to comment for My Wealth, the Commonwealth Bank of…
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Auckland’s residential property market continues to be buoyant and remains the strongest housing market in the country. Demand is strong from both home buyers and investors, however this is met by a shortage of listings, resulting in a lot of demand being left unmet. Key housing indicators continue to improve. August 2013 sales volumes have…
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This client wanted a property that had good strong capital growth potential over the short term and beyond. We agreed on particular suburbs that have shown through our research to be drivers of long-term sustainable price growth, and searching was focused in these areas. We are currently working in a rapidly moving market. It took…
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There are still areas that have a solid capital growth record in West Auckland, and this was what our client was looking for when we found this property. Ready to rent straight away this property was a full site, in a sought after area. There are still little gems like this if you know…
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The market is particularly “hot” in many areas and for some types of property – e.g. 1960’s weatherboard properties on full sites around the $500k mark. Hot can be defined as multiple offers, 6–11, being presented with the accepted offer often being unconditional and at a price that would set a new precedent for the…
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Auckland’s residential property market is continuing to show confidence and heightened activity, with annual house price inflation at its highest since late 2007. Pent up demand combined with low interest rates, has resulted in many buyers facing a long search to secure a suitable property. Housing activity indicators have maintained an upward trend since early…
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We were recently engaged by a Kiwi couple living in London who wanted to secure a property in Northcote, Auckland. They had identified two properties. We attended the first auction on their behalf. While we were bidding in the middle of the day they were sipping hot chocolate before bed. We were the underbidder on…
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4th Quarter Directors Commentary – Supply shortage not new news
Auckland’s Supply Shortage – not new news to us! While the media were focusing on the international economic crises back in 2011, Erskine + Owen were already discussing their prediction of a housing supply shortage. At that stage there was evidence of a growing demand for property, with a declining number of building consents being…
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