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


Auckland Apartment Market celebrates 20 years

Auckland Apartment Market celebrates 20 years

The Auckland apartment market is said to have been born on this day in 1997.

Ironically April Fools ’ Day, however this is no trick.

Though a few apartments existed already, it was not a recognised market until an independent agency broke away from the big franchise path and decided to specialise in the sale of Auckland apartments 20 years ago today.

Family owned and run real estate firm, City Sales was started by Martin Dunn who recognised the bright future and healthy appetite for inner city living.

Dunn pioneered the market from 1991 when the then Auckland City Council relaxed zoning laws to allow for apartments. Back then there were eight apartment buildings in all of Auckland.

He was met with resistance from banks, valuers and major Auckland real estate franchises, none of whom shared his belief that Aucklanders would take to apartment living.

Fast forward to 2017, City Sales reports 31,500 units in 503 complexes in Auckland, with many more under consent or construction.

“Excellent brokers, gruelling training and active participation in all facets of the market is what has kept us in business for 20 years’” says Dunn. “We’re not only the largest independent broker of Auckland apartments, we’re the most experienced. We’ve literally been there from day 1 and watched this market grow from eight buildings to 503.”

Aside from selling and managing these apartments, City Sales has been involved in lobbying against what they call “ghetto” areas of the City where a high concentration of studio and one bedroom units has led to blocks almost completely resided in by tenants.

“We lobbied for complexes to require a mix of units, studios, one bedrooms and two bedroom units to create a balance between rentals and owner occupied units, which has a positive effect on the culture of the area.”

City Sales was also active in helping victims of the Blue Chip crisis of 2006.

When asked about plans for the next 20 years Martin laughs “We’re in a brand new state of the art office with huge technological advancement and an intelligent and energetic sales team. I’d be lying if said I wasn’t confident about the future.”

City Sales celebrates 20 years of business on April 1, 2017.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>


Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>


MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>


Mediaworks: Reaches Agreement To Sell TV Operations To Discovery, Inc.

New Zealand’s largest independent commercial broadcaster MediaWorks and the global leader of real-life entertainment Discovery Inc. (“Discovery”) are pleased to announce they have reached a binding agreement regarding the sale of MediaWorks’ ... More>>


Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>


NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>


Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>


SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>


FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>