Why Auckland is the Best Place in New Zealand to Buy Residential Property Investments
Growing Population
When you are choosing a location to buy an investment property a growing population is an essential requirement. A growing population means demand for housing and therefore capital gain.
In 2023 the population of Auckland is 1.673,000. In 2030 it will pass 2 million and the prediction for 2050 is a total population of 2.430,000.
Strong population growth for the next few decades gives you confidence.
Booming Economy
Auckland has a booming economy currently accounting for around 37 percent of the country’s total GDP. This figure is predicted to grow, it is the powerhouse of the New Zealand economy. This economic growth creates more jobs and attracts more people to live and work in the city.
More Affordable Housing Market
All real estate markets do occasionally experience a dip in prices. Auckland is no exception and prices have eased; however, it will bounce back and prices will rise. This readjustment has meant that the Auckland housing market is at its most affordable now. A great time to buy.
Great Choice of Property
There is a huge range of property styles and locations available throughout the city. There is one that will match your goals and budget for your perfect investment. Apartments, townhouses, houses, there is always thousands of homes for sale across the city.
Capital Gains
House prices on average rise as fast or faster in Auckland than anywhere else in the country. It has been proven over many decades that the median price doubles every 10 years. For example, in April 1992 it was $137,000, in April 2002 it was $266,000, in April 2012 it was $497,000, and in April 2022 it was $1.170,500. This trend may slow in the years ahead; however you can be confident that the Auckland market will continue to outperform most, if not all, other property markets in New Zealand.
The Destination for Immigration
A lot of the population growth predicted for Auckland will be from new migrants. The reality is that most settle in Auckland and most rent for a period of time, further boosting the demand for our rental properties. More demand results in higher rents being achieved.
Just a Great Place to Live
Auckland is the commercial heart of New Zealand but it offers so much more that attracts people to this region. The beaches, the shopping, the bush, the harbours, the entertainment and the restaurants are just some of the many outstanding attractions. We love the place and thousands more people every year choose to move to Auckland. Certainly a city that you can invest in.
Many Happy Returns
The goal with property investment is to maximise your returns. As we have highlighted Auckland provides the opportunity to achieve this goal. There is a great real estate quote “Don’t wait to buy real estate, buy real estate and wait”
