Auckland confidence picks up
Auckland property investors are feeling confident about the year ahead, the latest Crockers market research shows.
Friday, March 7th 2014, 12:00AM
by The Landlord
Thirty-four per cent of investors now expect better performance from their rental portfolios over the year ahead, up from January but down from February last year, when it was 44%.
The Crockers Property Investment Index showed a sharp increase in the number of investors planning to increase the size of their Auckland rental property investment, to 25%. That’s up from 15% in January.
The report said fewer investors planned to make no changes. “[This is] likely a reflection of the improved performance expectations.”
Almost two-thirds of those wanting to invest are looking for residential properties that are not apartments. There was a slight drop in the interest in commercial properties, to 12% from 17% in January.
Crockers said the premium for a one-bedroom rental property in Auckland over the rest of the country had decreased over the years as the average rent prices in other areas increased at a faster rate.
But two-bedroom property rental prices had fluctuated much more.
It said the number of Auckland apartment sales in the $150,000 to $249,000 price bracket had increased since 2009, to a greater extent than other price brackets.
More recently, there has been growing demand for more expensive apartments, and less interest in those under $150,000.
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