New ZealandOceania

Real Estate Auckland – what is the current state and just how great is the country itself?

Auckland is a major and beautiful city in the north of New Zealand’s Northern Island and the real estate Auckland activity has been shifting a lot recently, and no wonder why. It is situated around two large harbours and has so much to offer business investors and tourists alike with their iconic attractions and incredible properties.

Expats looking to relocate to Auckland will come across a modern, first-world, cosmopolitan city. It has even been nicknamed as “The City of Sails” due to their large number of yachts that set sail between the two harbours: Waitemata Harbour on the Pacific Ocean and Manukau Harbour on the Tasmanian Sea. It is nothing but the ideal place to move to or even to travel to for a nice, long holiday. It has the perfect balance between healthy living and business, investment opportunities.

The population there is on a small scale of only one and a half million people or 31% of New Zealand’s entire population. However, this city is a gem and will allow people to thrive in their calm and inspirational society that has several cultural dimensions to it.

The weather there is blissful. Their summers are warm and the temperature averages 20°C (68°F). Their winters are moderate, with an 11°C (51°F) average temperature. If you like the charm and the arts, then their cultural shows and festivals may interest you. There are several throughout the year that will feed the appetite of travelling go-getter or a hungry property buyer.

So what about the real estate Auckland industry?

Properties that have been listed for sale by New Zealand’s largest real estate agency chain, Harcourts International, have boomed by almost 40% in the last year. Meanwhile, average sale prices have plummeted by $10,867, the business said.

The chief executive of Harcourts, Chris Kennedy, said the number of Auckland properties listed by the agency had increased from 1313 last February to 1828 last month, a 39.2%  rise.

This is despite the number of sales in the same time frame dropping from 503 to 409. Yet the number of sales in the same period dropped from 503 to 409.

Spokespeople from Harcourt commented: “The Auckland property market is showing all the signs of having cooled in February.

“There are more properties available to buy overall, up nearly 40% on the same time last year. By contrast, sales have dipped by 18.6% and average prices are slightly down by 1.1 per cent to February 2016.

“The drop in sales can partially be ascribed to a fall-away in the number of property investors, following the tougher loan to value ratios introduced last November.

“The incredibly heated market of 2015/2016 was not sustainable long-term and I believe we are returning to the healthy activity levels seen in 2014.

“In the 12 months to January, we had a net gain of 71,305 migrants and of those around 65,000 have chosen Auckland as their new home. New builds are not keeping up with our growing population, so existing houses will remain sought after.”

Interesting property news that is on the up makes the city itself even more authentic. You should see for yourself.

You should see for yourself.

Written by Gemma Smith

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