Where do you find an affordable sale price?
When you're searching for a property to use as an investment, you want to make sure that it suits your financial needs. This means finding a home that fits in your budget, and that can generate rental yields appropriate to the value of the home!
One of the best ways to do this is to get help from an Authorised Financial Adviser, who can guide you towards a suitable piece of investment property in New Zealand.
But your end goal should be financial independence, and part of that is making sure you're clued up on the market around you. One excellent way of doing this is watching the monthly updates from the Real Estate Institute of New Zealand (REINZ), and its latest one has been released.
The REINZ data shows that sales volumes in the Auckland region increased by 7 per cent between September and October, with Auckland City recording a sharp $35,000 increase in its median sale price, which now sits at $750,000. This may be a bit out of reach for some potential purchasers, and is significantly higher than the national median house price of $430,000.
Outer Auckland sits a little lower, with a median October sale price of $518,000. Hamilton could be another opportunity for investors who don't want to spend as much on a home, as the median transaction figure last month was $356,900.
"The seasonal lift in listings has seen more investors come into markets across the region," said REINZ Regional Director Phillip Searle of the overall sales situation in the Waikato and Bay of Plenty.
While property prices are high in the central city, areas like Hamilton and the outer suburbs of Auckland offer opportunities for affordable investment in property.
Here's to your financial independence!
Authorised Financial Adviser / Investment Property Expert