Manurewa also seeing buyers prepared to travel further

Boasting 10 salespeople and often winning real estate awards, one of Century 21 New Zealand’s most successful offices is in Manurewa. Franchise owner Derryn Mayne puts her office’s success down to the growing attraction of South Auckland from both a home buyer and investor perspective.

She agrees with some latest research that shows buying a house on the city’s outskirts can save householders tens of thousands of dollars in mortgage repayments each year despite the added commuting costs.

“We too are finding more and more first home buyers are willing to move further out. They are now quite deliberately choosing to spend more time travelling to work over the prospect of carrying a much bigger mortgage burden,” says Ms Mayne.

“We’re definitely seeing more middle class and professional couples from the city. With the average Auckland house price getting closer to $800,000, first home buyers are simply being priced out and so for many Manurewa is now included in their property searches and open home schedules.”

Ms Mayne says prices are continuing to rise in the Manurewa area but there remains affordable pockets for the first home buyer as well as opportunities to purchase investment properties boasting about a 6% yield while still achieving good capital gains over time.

“South Auckland has more to offer and then most people realise. Many young Aucklanders have only seen it when they’re flying past on the southern motorway, but once they start looking around they’re genuinely surprised at the great family recreational facilities we have. Not to mention the bustling markets, beautiful botanical gardens, shopping, and the country’s biggest theme park.

“Importantly we’re also close to jobs with the south being home to some of New Zealand’s larger manufacturing companies. In that regard we have it over the west and north of Auckland. Not to mention our roading and motorway access and being close to the Auckland International Airport.”

Ms Mayne says South Auckland has traditionally been a great place for people to make some good capital gain or lift rental income by doing a home renovation. TV shows like ‘Our First Home’ do help to sow seeds in people’s minds of what can be achieved in the outskirts of Auckland.

Geoff Barnett, National Manager of Century 21 New Zealand, says overall his company and salespeople are experiencing strong interest in South Auckland.

“With many market commentators predicting further interest rate falls, many young people are doing their sums and realising that paying a mortgage instead of rent is better particularly when you consider the capital gain. What’s more for many South Auckland is still doable even if it does mean a bit more travel which more and more are now willing to accept as the new reality of home ownership.

“The days of home buyers overlooking the potential in South Auckland are over,” says Mr Barnett.

www.century21.co.nz

Ends

© Scoop Media