Property Double Digit Asking Price Growth

February 16, 2016

Property Investing

keysAuckland is not the only region in New Zealand experiencing residential property double digit growth.  Bay of Plenty is hot on it’s heels reports Trade Me Sales Price Index.  Auckland’s property value growth has slipped back over the last three months is still up by 15.4% or $107,050 while Bay of Plenty has also experienced double digit growth of 12.2% adding $55,300 to property values.

While the rest of the country has yet to reach double figures as a average property values are rising.  A recent sale in Wellington added nearly $100,000 to the CV (Government valuation) and this has been witnessed more frequently during the last few weeks.

During the past five years the average asking price has risen 60% or just less than $300,000.  This equates to $5,000 per month which is more than the average wage in New Zealand.  As we know the lion’s share of growth has been in the Auckland region with other regions including Wellington showing very little growth until recently.

PropertyTutors’ investor clients have secured healthy profits from their property deals in 2015 and the first few weeks of 2016.  The value add of their property renovations has been the tipping point of their success and there are plenty of properties in the market suitable for their projects.

In a couple of months the Property Masters event in Auckland 1 May and Wellington 15 May will showcase some the deals achieved in the last few months.

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