If you've been looking at the property investment market in Auckland, you'll note that home prices are still rising. Real Estate Institute of New Zealand statistics for September this year showed that compared to the same time last year, property prices increased for all major regions of the city.
This can make the market seem daunting to enter, but it doesn't need to be – you just have to plan carefully and gather your savings from early on.
Home prices coming down is a slow process – as Shamubeel Eaqub, principal economist for the NZ Institute of Economic Research said in his Home Affordability Challenge paper earlier this year: "There is no easy or quick fix to New Zealand's over-valued housing market".
While it's undeniable that home prices have increased, by getting the right investment advice you can still find great property right across the market.
Mr Eaqub also recently backed younger people wanting to enter the property market. Speaking to the New Zealand Herald on November 3, he noted that home prices rising doesn't mean people are not planning for their future.
"There is also no evidence that young people are wasting money any more than previous generations," he told the newspaper.
That's the kind of attitude we like here at Goodlife. We believe young people are ready and willing to plan their financial independence through home ownership, and we can help them through excellent property investment advice and connections.
The housing market is a difficult place to navigate, but with the right advice you can buy into it. It may not be a five-bedroom villa in Grey Lynn, but to start building equity for the long-term it really doesn't need to be. With prices rising all over Auckland, there are numerous opportunities to generate capital gains.
Here's to your financial independence!
Daniel Carney
Authorised Financial Adviser / Investment Property Expert