The New Zealand Property Market has always been favoured as a top asset class for investment.
The Auckland Property Market appears to perform consistently and doubles in value, on average, every 7 years according to various sources. Outside of Auckland the average time to double a property’s value is 10 years which also suggests our love affair with property investment is worthwhile.
The GFC (Global Financial Crisis) has affected most asset classes yet property remains favourable. In wider New Zealand the expected time to double your property value is 10 years. A few more years than the best performing area of Auckland but none too shabby all the same.
New Zealand has also out performed the seven year 100 percent increase in value – between 2000 and 2007 based on data from Quotable Value NZ house prices in New Zealand rose significantly, more than doubling in value. Then in 2008 the global financial crisis got into full swing and the values dropped significantly as seen on the graph. The good news is the graph shows there has been a recovery since 2009.
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%.
Its hard not to be excited about the property market, the signs are looking good for the property market to continue its recovery and reward those of us who love property as an 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 |
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