Harveys Expands Auckland Network

25 March 2008
MEDIA RELEASE

Harveys Expands Auckland Network with New CBD Office

Harveys Real Estate has strengthened its position in the Auckland market with the opening of its first office in downtown Auckland.

The new Queen Street office will specialise in the CBD apartment market and despite reports last month showing that residential sales nationally hit a seven year low, Harveys is optimistic of a continued demand for apartments by overseas and local investors.

“Our research shows that while the sales of suburban homes across greater Auckland have slowed, the downtown apartment market remains buoyant” says Harveys CEO Ross Hunter, “with a the majority going to overseas or out-of-town investors.”

This confidence is shared by Harveys Auckland Central office owner, Simon Dai, who says that despite high interest rates, “the barrier to entry in downtown Auckland is low with good rentals achievable.”

He estimates the number of apartments in the CBD at close to 14,000, with rentals for studios around $200 and $260-270 for 1bdr apartments.

“We think it is a good time to be in this market, with about 200 apartments for sale every month,” says Simon who has put together a team of nine sales representatives, many with considerable sales experience in this sector.

According to Mr Hunter this “new venture into the CBD provides us with the opportunity to expand the Harveys franchise in this vital area. We have every confidence Simon will bring the best out of the team at Harveys Auckland Central to make this happen.”

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