Auckland Apartments Breaking Records
Auckland apartments have risen in value by 49 percent since August 2014. The increase in asking price for the average apartment has since slipped back to 39.6 percent as of December 2015. However it’s still a meteoric climb nonetheless and the migration of baby boomers from the suburbs has been a big contributing factor – see this article: Baby Boomers Move Into The City.
Trade Me Sales Price Index says:
“Over the past five years the average asking price of an Auckland apartment has more than doubled from $283,000 to almost $602,000,” Mr Jeffries said. “That’s a staggering average increase of over $5,000 per month in that time.”
Sixty thousand dollars a year average increase over five years for the average Auckland apartment is more than the average wage which is a little over $48,000 a year!
Grant Hoey of Cash Flow Apartments says 2015 has been a bumper year for his clients. There is still a large stock of apartments that need work before they’re of interest to owner occupiers.
The clients Grant has been mentoring in 2015 have made a lot of profit from on-selling apartments that have been purchased below market value and renovated. Grant is a renown Apartment investor and mentor. He has been mentoring property investors in this niche market for years. The Cash Flow Apartments seminar is a one day event that is held annually and it’s on again in Auckland, 20th March 2016.