Snapshot - Kingsland Sales
Jul 26, 2016
Kingsland, an inner city suburb of Auckland established in the 1880’s and the home to Eden Park has grown to become a vibrant residential and retail precinct offering a diverse range of retail, cafes, bars and restaurants. Highly convenient it is just a seven minute drive along New North Rd to Auckland’s CBD. The Kingsland rail station also offers commuters quick access to Britomart and Downtown. The popular location is poised to offer even better connectivity following the completion of the City Rail Link in 2021. The suburb itself has many apartment developments, both planned and underway to capitalise on the high demand for residential accommodation.
This demand has seen ‘Mixed Use’ zoned development land, suitable for apartments selling as high as $4,000m². Further to this, quality apartments in the location have been selling off the plans for between $9,000m² - $13,000m².
Investors recognising the strength of the location have also been active with recent sales yields in Kingsland ranging from between 5.15% and 6.45%. Many of these buyers are happy to land bank with an income. The impressive array of surrounding amenity and access to transport links has also seen owner occupiers snapping up those properties that offer vacant possession.
A selection of transactions in Kingsland from the first half of 2016 is as follows:
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