Auckland Housing Market
The Auckland, New Zealand housing market has been an extremely hot topic for some time now. Sale prices have been increasing annually by 20%+ and there has been many tactics put in place by the government to try and control/slow it down, especially the investors purchasing. The reality is, not enough supply for the demand!
The impact of government’s changes has now pushed those investors to other parts of the country. Wellington, New Zealand’s capital city has seen a 21% increase in the past 12 months which is a direct effect of investors swooping in to purchase a property at a good price with the likelihood of dramatic increases.
The impact of this being, Auckland house owners are afraid the Auckland housing market which, is perceived as slowing down, will take a considerable dive. Those who have rental properties are putting them on the market as soon as the leases run out, to get a good price while the market is still considered as being inflated in price. The impact is reducing the number of rentals available at a substantial rate, especially high end properties.
Local Auckland agents are informing us they are losing listings quickly. Two of Woburn’s property contacts are reporting a combined loss of 100 listings in the past 12 months because of the above