So not too long ago I did an update post on the most gorgeous apartment I have ever laid my eyes on (if you haven’t seen it you can check out the post here; http://eastotago.co.nz/)
The apartment is owned by an incredible kiwi entrepreneur names; Sam Ovens, anyways I thought I would do a someone relevant update to that post by examining the Auckland apartment/housing market.
I have recently been in talks with the wonderful Vanessa Mowlem and she has been helping me understand just how exactly the Auckland property market is working in 2016.
She explained to me that with so many houses in the central city being sought after, the expensive price of properties is no longer just held down to Auckland central. Families are willing to sacrifice the long commute to Auckland in the morning by getting cheaper house prices in the outer suburbs and cities of Auckland (think Pukekohe and the likes).
Whilst this seems like a good idea in theory, the problem is that the demand for properties in these outer suburbs is only going to rise further and further, and eventually the price of a house in Ponsonby will be the same price as a property on the outskirts of Auckland.
Vanessa Mowlem has seen this change happen within the last few months and is urging buyers to quickly make a decision on what area of Auckland they would like to move in, as waiting even one week and double the price of a house that’s being sold due to demand!
Anyways thought that was an interesting insight that some of the readers of the blog may find useful.
Until next time 🙂
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