This is dependent on what your outcome of living or buying in the CBD is. Whether it be a student apartment, an investment or a lifestyle choice. Read on in the bio or watch the blog for further information.
The Auckland CBD is becoming a very desirable place to live.
The central hub is where most owner occupiers take residence, this is where there is a cultural district, supermarkets, Britomart and many views. This area is all freehold.
Viaduct Basin, Princes Wharf and parts of the Ngati Whatua land and is probably the most desirable places to live, these are all Leasehold which is a lifestyle decision.
The university district is surrounded by all the university and has many students in this area along with many handy amenities. The university apartments tend to be much smaller and serve the purpose perfectly for people attending university.
There is an area where there are apartments that are predominantly owned by investors and 90% of properties are rented out and this the area around Hobson St.
Down by Victoria Park has a high owner/occupier area and is still on the city fringe.
Check out the map within the blog to better guide you where these areas are.
Good day, Andrew Murray here from the Apartment Specialists. Auckland C.B.D. is becoming a great place to live in. But like any other area or suburb there are the good parts, and there is the parts that are more suitable for different purposes. What I have done is the map of the Auckland C.B.D. in front of you and I’ve highlighted different areas that are suitable for different purposes.
If we start out with the ‘T’ in the very middle; this is where your best owner occupy stock. This is where the best owner occupy stock is, and this is where your Metropolis is. Also, this is where your Quay West is. This is where your Precinct building is and your CityLife – your Heritage.
The reason for this is you have got your central hub. This is where the power of New Zealand is. In this area you have got your top law firms and top accountancy firms, all that kind of thing. Obviously, Shortland Street is a key street there. Coming down to Queen Street you have got your retail and your cultural district. In this area you have got everything at your fingertips. You have got three supermarkets, shopping malls, Britomart in front, so this is a great place right for owner-occupiers.
What is the actual best place to live? If we forget about being freehold, because obviously this ‘T’ junction here is all freehold land. That would be the Viaduct Basin and you have got Princes Wharf and parts of your Ngati Whatua land. This is all leasehold land, so this is purely a lifestyle decision and it is a great place. You have got your walks, restaurants, very high end apartments with great views and are very spacious.
Then you have got your University district and University land. The Auckland University right here and Auckland University of Technology which is another University here as well which actually has a lot of, I suppose, it has the university campuses which have students who are living on site. You will also see this blue area here where, this light blue are complexes that have very small units, and have been built specifically for the student demographic. So, it’s about student life and their apartments are as small as nine square meters for one bedrooms, which is extremely small and two bedrooms; 30/35 square meters.
You have got this little black area here, and this is where a lot of box apartments are being built by investors. That’s where investors buy for return and It’s probably about 90/95 percent of this whole area is investor. It’s not owned by the person who is in the apartment and it is rented out. This is something that’s not going to be encouraged moving into the future.
What is really exciting is all these areas I have not marked? You have got K Road and Victoria Quarter, which is exciting because it is yet to blossom. If you are going to use that word. It is about what the Council does here and is this going to become more commercial? What’s going to be put here? It all comes down to – the future looks really bright, because the Council is starting to really look after the future of Auckland. As we can see, what they have already done with Wynyard Quarter and Britomart.
You also have the area that I have included here, which is your other end of Victoria Park. It is where you got some great complexes and I see as being part of the C.B.D., because it is on the other side of Victoria Park. This is your bone rock quarter, quite a few apartments here and a great owner-occupier area. Obviously, the majority of all of this around here is all your new fringes, where you have got scattered apartment complexes, which are also very popular.
As you can see, there is also dots here. There is red dots, black dots, blue dots here, and it is indicating that this is not a rule of thumb. In this ‘T’ junction you got a few student apartment complexes in this area here, which is closer to your shoe box apartments. Some great owner-occupier complexes. It’s not a rule of thumb, but it’s a general theme that within this lovely City of ours, it is like little suburbs where there are different parts of the City that suit different purposes.
I hope that educates you a bit on apartment life for Auckland and talk soon.