Growing shortage of top end city apartments
“The apartment market in Auckland has been turned on its head; while much public focus has been on rock bottom sales of cheap inner-city apartments, the real issue is that the top end market is moving into a shortage, says Miles Morton of Holdam Developments Ltd.
Buyers are now demanding bigger apartments with better quality design and fit-outs, Morton says.
This trend is confirmed by Key2 apartment specialist Russell Benshaw, who says that the recent trend in the apartment market “has caught a lot of people out”.
Benshaw says, “We have buyers suddenly wanting to buy top end apartments and we have very little to show them because of a combination of escalating building costs, council development levies and interest rates. Those that are underway are in big demand and as a result prices are rising”.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)