The Auckland Property Market boom has given property owners an average of $227 per day in unrealised capital gain over the past 12 months. This paper equity is very attractive and with strong migration, continued under-supply for current demand, let alone pent up demand (estimated by many industry experts and also some economists to be over 20,000). The Herald graphic below paints a very interesting picture with the median Auckland income at $46,800 for June 2014 from Statistics NZ and the median Auckland house price at $720,000 at 31 March 2015 which is a gain of $83,000 over the 12 months from 1 April 2014 to 31 March 2015.
This is a very interesting graphic and shows that New Zealand is not equal. Sure gross yields are higher outside of Auckland, but the growth is much less owing to the insatiable demand for property in Auckland, our nation’s economic hub and the 3rd most liveable city in the world (Mercer International Quality of Living Global Survey 2015).
The question is how are you building your financial future. Do you have a quality property portfolio in Auckland?
