Something has to give in apartment market: Dunn
But the company’s director says that may be about to change.
City Sales, which specialises in the Auckland apartment market, has released its June report on the central city apartment market.
In it, it shows the average rent for the area, defined as Stanley St to Howe St and Quay St to Virginia Ave, has moved from just over $300 per week in April 2009, to about $375 in May this year.
The average sale price increased from about $175,000 in April 2009 to almost $300,000 in May and the average return to investors dropped from more than 9% in 2009 to just over 8% this year.
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