Apartment builds rocket ahead of stand-alone houses in Auckland
Mar 29, 2016
New apartments and terracing housing builds in Auckland will overtake the construction of stand-alone houses for the first time in New Zealand’s history, next year.
Property and architecture company RCG’s latest research says the shift will have a rippling effect on property, businesses, the economy, and retail. Based on building consent data and RCG’s own forecasts, 53% of new dwellings built in Auckland will be attached by 2017. The increase fits with trends in comparable cities in Australia.
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Implications
City fringe properties with a good land component & zoned Mixed Use, close to transport links and amenities will continue to have excellent capital appreciation in the medium term, due to the ongoing pressure from population growth and the requirement for residential accommodation. If you can purchase one with income and a reasonable yield - even better!
Otherwise the Bayleys Total Property Portfolio 2 close off for marketing is Friday 15 April, so if you are considering selling your property or just requiring some advice on your property or with respect to the market conditions, then please feel free to contact me or one of the team and we will be glad to assist you.
Market Commentary on 22/03/2016: What is happening with interest rates and inflation?