After already building a successful portfolio of investment properties in Auckland we suggested our client to diversify their portfolio. Queenstown is another city with good capital growth potential, and it was here that we started looking for opportunities. We came across a land and build package that ticked all the boxes – 4 bedrooms, 2…
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Auckland rent prices are soaring and competition for securing a home is tough. Director Alan Henderson says rent prices are climbing year by year, and was asked to comment on this topic recently for TVNZ One News. “Rents are steadily increasing and we’re seeing rents climb by 10 percent per annum.” The average price for a three…
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Parents concerned about rising house prices are increasingly buying properties for their children – some while they are still at primary school. Children as young as 4 are having houses bought for them by parents who then rent out the property until the child can legally own it at 18. Erskine + Owen Director Alan…
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Only two months since the reserve bank brought in new LVR lending legislation, they have amended their stance. New home builds will now be exempt from the lending restriction, which according to the Registered Master Builders Federation, will ensure the development of up to 5000 homes in the next year. This figure is only an…
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In September 2011 we purchased a property for a client in West Auckland for $435,000. In October 2013 our client had the property re-valued by an independent registered valuer for $660K, based on other sales in the area. That’s a $225K capital gain in 2 years – 24.8% capital growth per annum, compared with the…
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Last month our lead commercial property buyer secured the following property for our client: Purchase price $2.010m Rent $159K per annum Yield 7.92% Lease: 6 year lease beginning in October 2013 with 2, 3 year right of renewals Strong tenant – well established company Property type – two level office space with no earthquake issues…
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While the media were focusing on the international economic crises back in 2011, Erskine + Owen were already discussing their prediction of a housing supply shortage. At that stage there was evidence of a growing demand for property, with a declining number of building consents being issued. In 2013 the economy is in recovery mode,…
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We are regularly asked to comment on current property market trends. September 2013 Changes to the new LVR lending criteria could impact on first time home owners, but will it also impact on investors? Director Lisa Phillips was recently asked to comment on this by the Commonwealth Bank of Australia. Click here to read the…
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From October 1, New Zealand banks will only be allowed to issue high loan-to-value-ratio mortgages on just 10% of all their loan business. What will the impact of this new LVR lending criteria mean for investors in the NZ Property Market? Director Lisa Phillips was asked to comment for My Wealth, the Commonwealth Bank of…
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4th Quarter Directors Commentary – Supply shortage not new news
Auckland’s Supply Shortage – not new news to us! While the media were focusing on the international economic crises back in 2011, Erskine + Owen were already discussing their prediction of a housing supply shortage. At that stage there was evidence of a growing demand for property, with a declining number of building consents being…
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