Plane maker Airbus predicts Auckland will become a megacity. Their research confirms international traffic will grow 4.5 percent and belong it will serve 10,000 long-haul passengers a day.
The local Auckland region economy is strong and that along with the lack of available homes ensures property values continue upwards. The Trade Me Sales Price Index for the year to March 2015 showed a 13.5 percent average increase in residential property values.
Right now it’s hard to find the commercial real estate suitable for the luxury brands interested in downtown Auckland but that will change. Businesses setting up shop in Auckland is a vote of confidence in the city and while the property value increases seem unsustainable a huge correction is less likely at least in the short to medium term.
PropertyTutors owner Sean Wood confirms that the increases in property values has not dampened the interest in investment. Quite the opposite there is a huge interest in property investment strategies that provide cashflow and profit in Auckland. The Masters event was held on Sunday 3rd May to an all time record crowd confirming Auckland is already on its way to becoming a megacity.