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.
How Low Can It Go? The Reserve Bank cut the Official Cash Rate (OCR) on 20 August from 3.25% to 3%. This marks a 2.5 percentage point drop since the easing cycle began exactly a year ago. In May, the bank anticipated the OCR would bottom out at 2.9% in … Read more
Pause For Breath The Reserve Bank of New Zealand held the Official Cash Rate (OCR) at 3.25% on 9 July, as widely expected. According to Interest.co.nz, the Monetary Policy Committee opted to pause while it assessed persistent inflation pressures and the pace of the country’s economic recovery. While a rate … Read more