If ever there was proof that prudent investment into residential property was profitable this story must prove it. Most Auckland houses have gone up in value by $50,000 or more.
It’s not too late so get off that couch and get stuck in. Prices have a long way to go, especially if any form of market interference takes place through loan restrictions or by other means.
Anything that stops the free market from working either pushes up prices or pushes up rents. Either way the investor gains in the long term
If you look at what it costs to build a house and buy the section and then pay 15% GST on top of everything it makes “used” houses in nice areas still look very cheap indeed.
House price values jump 8.1pc
Thursday Aug 8, 2013
Property values are now up 7.5 per cent over the previous market peak of late 2007, new figures show
The latest monthly property value index from Quotable Value shows residential property values nationwide increased in July once again.
Values increased 8.1 per cent over the past year, with an increase of 3.1 per cent over the past three months.
QV operations manager Kerry Stewart said although values continued to rise, they were still primarily driven by Auckland and Christchurch.
“Most of the rest of the main centres were also increasing but at a much slower rate. Many of the provincial towns had previously started to see some small gains,
however values have dropped over the last month.”
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