Yes there is a buying frenzy – well done for working that out!

Another ‘after-the-fact’ article from our mediocre media. I can categorically say that the buying frenzy has been well underway for months now. Asking prices are already 20-50% higher than they were this time last year, especially for property that can be developed. If you are buying for capital gain now, you have already missed this price increase.

And when are the media going to stop saying silly things such as the comment in this article about a Remuera property selling for $4.4 million even though it was described as a do-up? If the property sold for $4.4 million it’s either the development land value that’s driven the price up, or it could be a do-up, a house with great bones in a great location. The fact the house is described as a do-up is completely irrelevant. Why aren’t there any reporters who have even a small understanding of the property market? It’s not that complicated to understand.

John Kenel
Assured Property

Continue reading here – NZ Herald

John Kenel
Assured Property

#assuredproperty #housing #rentals #propertyinvestment