Auckland is expected to accommodate an extra million people in thirty years time according to a news item on NZHerald.
This knowledge however has not encouraged Auckland council to stay on track with their high density living plan for most Auckland suburbs according to the latest news item on NZHerald.
The article suggests Auckland council have caved into pressure from existing homeowners in most Auckland suburbs which suggests affordable housing in 85 percent of Auckland is out of the question so house values will continue to remain high.
85 percent of land needs to be a minimum of 200 sq. metres and at the current per sq. metre cost of $1000 – the land alone is $200,000 and on top of that you need to put a house.
Mr Jeffries’ Community of Refuge Trust recently built eight one-bedroom flats in two new two-storey houses on a 1000sq m site next to the commercial area in Otahuhu.
That worked out at 125sq m of land per dwelling including pocket gardens and a shared barbecue area. It cost only $240,000 a dwelling including the land, enabling the units to rent at only $250 a week.
Property investors are doing well under Sean Wood‘s company (PropertyTutors) mentoring program. They are picking up existing properties that home buyers want but can not afford to purchase and renovate. Once the property has been renovated and listed for sale again the competition is tight from property investors and homebuyers alike. This solution offers some relief in the Auckland property market as the renovated properties are affordable.
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