Not to mention international flight arrivals reuniting families for the first time in several years, Auckland is bouncing back.
Despite despondent media reports of a depressed property market, our Central City Apartment numbers are showing positive signs.
Sales in total reported in November, although significantly down on November 2021, were a healthy 40% increase on October this year.
The numbers for sale also remain steady hovering around mid-600.
On another positive note, available properties to rent continue to tighten as numbers return to the central city, a positive sign for landlords and investors.
Director of City Realty Group Daniel Horrobin says “We are hugely encouraged by recent activity and can report our Auction numbers already booked for early next year are extremely healthy. We are looking forward to a busy start to 2023”.
There is no doubt 2023 will present challenges that have been extensively reported and don’t need to be repeated here.
However, as the nation takes a collective breath and gears up for the year ahead, our inner city property market will continue to present opportunities for those looking to realise capital currently invested and conversely for new investors or owner-occupiers to become proud new owners.
We look forward to being a part of your journey.
OCR Drop Sparks Market Optimism The Reserve Bank’s much-anticipated Official Cash Rate (OCR) cut on February 19 did not disappoint, says Daniel Horrobin, Director of City Realty Group. As reported by Stuff on February 20, the OCR was lowered by 50 basis points to 3.75%, with banks quick to respond … Read more
Big Day Out “Our BIG Auction Day on 30 January was eagerly anticipated and did not disappoint” reports Daniel Horrobin, Director of City Realty Group. But first. “As we await the upcoming OCR announcement on 19 February” says Daniel, “banks generally appear to be getting on with business with Stuff … Read more