Auckland’s property market is hot, hot, hot! First Home Buyers (FHB) and property investors are looking at their options now the banks are restricted lending just ten percent of their total lend amount to LVRs (Loan to Value) over 80 percent.
This earlier article lets you know where stand alone properties are being snapped up in the Auckland region.
Property investors are doing well with properties that are in need of some tender loving care. PropertyTutors Limited provide property investment mentoring in Auckland and Wellington.
Property Mentor Sean Wood is the most sought after property mentor in the Auckland region and he says his clients are succeeding with property do ups. These properties are not ideal for the FHB with no extra room in their budget for renovations. Our clients purchase do up properties and after the renovation they are often listed on the market and picked up by the FHB.
Auckland Apartments are also being renovated by investors and they are in hot demand. An article on NZHerald confirms home buyers are picking up Apartments.
While an apartment may not have been many home buyer’s preferred choice they do meet many of their requirements. For example Apartments are located in and around the city and in suburban centres close to amenities.
Securing a standalone property in the same location is out of reach for these buyers so to get on the property ladder an Apartment is a good starting point.