City Sales 'Snapshot' of the Auckland Apartment Market

According to their Apartment Report, City Sales say that winter 2018 has seen sales volume drop to a level they haven’t seen in 21 years of business. A combination of external factors, including fresh government regulations, restricted lending, affordability caps but most importantly, the long predicted ‘end of cycle’, has seen the market’s cogs grind to a significantly slower pace.

People who want to sell have been holding back, people who want to buy have been waiting. Auckland is building thousands of new dwellings, but we need tens of thousands. City Sales’ current prediction is that this pent up demand is to be released over the New Zealand summer, and they are seeing signs of this already.

Their current prediction is that this pent up demand is to be released over the New Zealand summer, and they’re seeing signs of this already.

It’s a familiar picture as the new cycle takes hold and both buyers and sellers realise the changes in regulations are not the game changing disasters they feared. City Sales expect to see a kick start this Spring, as those who have been holding on to see what happens come to market, and buyers start making decisions and offers more rapidly. This is evident in their auction room already.

They recommend vendors get a head start and use intelligent marketing campaigns to differentiate from the competition. The buyers are there and ready to go; September, October and November are key months. They don't often work in unison, but the rental market has also been quiet over winter. Interestingly, rents are expected to increase as the popularity of short term accommodation dwellings removes long term rentals from the market.

City Sales Brokers have been trained to not only be experts on Auckland Apartments, but also the growth of Auckland and how political and economic factors may work for and/or against buyers and sellers.

Intensification through the Unitary Plan will promote Apartment living as the new norm, and City Sales predicts that transport congestion will precipitate a culture change of inner-City living not seen since the gentrification of the Ponsonby and Freemans Bay workers cottages in the 1970s. City Sales believes that there are not enough skilled tradespeople to cope with a nascent demand that will prove historically unprecedented.

For more information on property management Auckland, property management and for sale apartments please go to http://www.citysales.co.nz .