Shake off winter blues and buy an apartment
August is not generally considered one of the more delightful months in the calendar year. It’s getting closer to spring, but in most cases not close enough to leave the winter influences behind.
Many vendors steer away from winter and hold out until a little way into spring to put their properties on the market. They hope their property looks a picture in spring and buyers have a spring in their step as well as an urge to start anew… all this translating to the best possible price for the beautifully presented home.
As an investor, you can do a lot worse than donning a big coat and braving the cold. When you are the buyer, the more miserable the weather the better – there may be less competition and there is a good chance that the seller who is bucking the spring sale trend is the person who is prepared to sell ‘now’ and accept your offer.
There are opportunities out there right now for investors at all points of the market.
The need for rental property is increasing with net migration reaching record highs, particularly for inner-city and near-city apartments.
Just taking the increasing traffic congestion as one factor, more and more people are wanting to get as close as possible to their place of work – and ditch the car altogether if they can.
The inner-city and near-city unit market has demonstrated impressive growth in rental yields and fast-rising rents; and it is where New Zealand’s rental property shortage is most marked.