Property Prices Up 18 Percent In Hawkes Bay

April 14, 2016

Property Investing

 

property prices

Just when you thought it was safe to invest in regions the March 2016 Trade Me Sales Price Index suggests you’ll have pick wisely.  Bay of Plenty, Waikato and now Hawkes Bay have seen property prices sky-rocket over the last couple of months.  Auckland property investors have bought up in surrounding areas where they qualify for loans based on 80 percent LVR (Loan to Value Ratio).

To purchase an Auckland property for investment the LVR requirement is now 70 percent and encouraged investors to look outside of Auckland.  The result of their actions has seen property volumes increase and the value of properties rise.

The average property sales price in Hawkes Bay climbed 18.6 percent in March 2016, and 14.4 percent in Bay of Plenty.  Waikato was not far behind that while Wellington achieved 6.6%.  A couple of areas saw a negative result – Taranaki and Gisborne were seemingly out of favour or out of the spotlight of investors.  For Gisborne is may be just a blip as last month their property prices were up 16 percent and 8 percent in January.  Taranaki however is in the doldrums with negative growth for the past six months.  Many Investors usually see this drop in property values as an opportunity to get into the market.

For more information on how to get into the market as an investor there is good information on PropertyTutors website.

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