Many people will look at that the statement “Property Investment value doubles in 7 years” and think that is too good to be true! The PropertyTutors team know that it is a fact.
The Auckland Property Market doubles in value, on average, every 7 years. Outside of Auckland the average time to double a property’s value is 10 years.
So, if the right investments are made it is entirely probable you can double the value of your investment in less than 10 years. That is a pretty attractive scenario, especially in the context of the past few years of financial turmoil that the world has experienced.
Based on data from Quotable Value NZ house prices in New Zealand between 2000 and 2007 rose significantly, more than doubling in value. Then in 2008 the global best gaming headset under 100 dollars financial crisis got into full swing and the values dropped. Since then they have recovered, with some fluctuations.
Since 2010 the property market has continued to recover and makes good gains. According to REINZ statistics, the Auckland market’s median house price in December 2010 was $455,000 and one year later in December 2011 it was $484,375 this is an increase of 6.5%.
Keeping up with what is going in the property market is crucial and if you have a mentor – then keep in touch with them. If you don’t have a property mentor, then now would be a great time to consider this, having someone who is not emotionally invested in your business but has experience can be a huge advantage to your property investment business.
All the signs are looking good for the property market to continue its recovery and as long as you are willing to take a long term view, property remains a solid investment.
|For further reading on Property Investment NZ, click on the articles below:
Setting Goals for Financial Independence – click here
Tips for Becoming a Property Expert – click here
Buying Rules for Property Investment – click here
5 Tips to Add Value through Renovation – click here