Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


City Sales Releases Inaugral Auckland City Apartment Report

31 March 2014

City Sales Releases Inaugral Auckland City Apartment Report

Detailed analysis of leading apartment broker’s statistics unveils several unexpected findings

• Average sale price for an apartment in Auckland has risen by more than 35% over the last two years
• Rental prices on apartments have shown little to no change over the same time frame
• Nearly 80% of all apartments sold have been sold to investors rather than owner occupiers
• The average gross yield for investors has dropped from over 10% to less than 7.5%

City Sales, which tomorrow (April 1) celebrates 17 years of being Auckland’s leading apartment specialist, today releases a detailed analysis of sales statistics which unveils trends pertinent to the Auckland City apartment investor.

Martin Dunn, Managing Director responsible for opening City Sales on April Fool’s Day in 1997 comments “Producing the City Sales Apartment Report involved scrupulous analysis and examination of our records, but we’re now committed to providing this precise market report every month. We hope it will enlighten both our valued owners and also wide investor base and provide them with an insight into the market which until now, hasn’t been available to them.

The important thing to bear in mind when reading the City Sales Apartment Report is that the trends are more important than the figures. For example, sale price and dollars per square metre are steadily rising, the rents achieved for apartments has remained constant, and perhaps most importantly we have witnessed a gradual drop in investment yield.”

The report is intended to be viewed alongside other influences in order to establish a better understanding of the Apartment market’s current status. “We’ve included sections on considerations and insights, and also tips and advice for vendors as the report is designed to be considered against other important external factors such as the current interest rates and the direction we expect them to continue in, the age of many of the apartments in our market, the current supply versus demand, which is considerably different to the residential market and of course Auckland house prices, which continue to defy gravity.”

“We are hopeful that the precise analysis offered will assist apartment owners to make very informed decisions in their forward planning.”

The City Sales Apartment Report is available online at www.citysales.co.nz and City Sales encourages apartment owners to contact them to receive specific advice against their own property.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: Weak Dairy Prices Prompt Pull Back In Fonterra Forecasts

Weak global dairy prices have prompted analysts to pull back their expectations for Fonterra Cooperative Group's payout to farmers for next season. More>>

Broadband Network: Spark Launches New, Competitive Ultra Fibre Plan Line-Up

Spark is giving customers an even more compelling reason to switch to its Ultra Fibre plans from today with the introduction of new competitive pricing for the majority of its plans (details below) and Fibre Landline (voice-over-fibre technology) for ... More>>

Employment: ANZ Proposes Casualisation In Whangarei Stores

ANZ workers in Whangarei could see their incomes drop by 20 to 40 percent if the bank’s proposal to reduce the number of full-time positions goes ahead says FIRST Union national organiser Tali Williams. More>>

Finance: BNZ Develops Specialist Tāmaki Māori Banking Team

BNZ develops specialist Tāmaki Māori Banking Team to support Māori as Auckland grows More>>

Pharmaceuticals: Commerce Commission To Consider Pharmaceuticals Merger

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire all of the shares in Hospira Inc. More>>

Real Estate: Housing Unaffordability Issues Spread

Surging house prices in Auckland and Queenstown last month pushed home ownership even further beyond the reach of first home buyers in the two districts, according to the AMP360 Home Loan Affordability Report for March. More>>

Statistics NZ: Annual Exports To China Dip Below Australia

The value of goods exports to Australia ($8.7 billion) surpassed those to China for the year ended March 2015, Statistics New Zealand said today. More>>

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news