Market Report 2020 October 9

Market Report 2020 August

Market Update

2 Sides Of A Coin?

Market Update - August 2020

August 2020

Here are two insightful perspectives that may help you get an understanding of your apartment's value in this unusual market.

Market Report 2020 October 9

Here are two insightful perspectives that may help you get an understanding of your apartment's value in this unusual market.

Potential Owner Occupier/First Home Buyer Stock - 

'What COVID ?’ is the saying in the office !! This category has surprised us the most with demand and prices actually increasing with multiple offers occurring. 

First home buyers are looking to take advantage of a supposed break-in property value growth, but are actually raising values due to only buying apartments that tick all the boxes, which are in short supply. 

Also, the record low interest rates are helping to stoke the fire in this category with buyers looking to secure cheap money whilst they can. 

So it's not all apartments unfortunately but the team is really enjoying the action in this part of the market and I see it continuing for the foreseeable future.

Good layouts, nice outlooks, one or two bedrooms in pleasant-looking complexes is the ticket.

Investor Apartments - 

This is the area we have been watching from a close 3rd person perspective. 

The investor apartment category has been hit the hardest due to international students leaving, Airbnb units flooding the market, and of course, the 50,000 in net migration for New Zealand is no longer a reality. 

Feedback has been that some rental companies have been adjusting their rental price by as much as 25%!!! Others who seem more positive, rather than defeated, are still allowing for a 10% change in some circumstances. These indicators will have an obvious knock on effect on apartment values in the months to come! The higher the current rent the higher sales value!

I believe this price change to be temporary and I hope to see values start to climb again in 2+ years.

If you would like a FREE INDEPENDENT RENTAL APPRAISAL or as always...

Whats My Apartment Worth?

Now each apartment has a different value. To find out the approximate new value just email Andrew for a figure of what it's really worth in today's market.

Now don’t worry about access or disturbing your tenant we know the building inside and out as well as having all the floor plans.

So just send them an email and best of all it’s FREE.

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Market Report 2020 August