what is the house market doing in Auckland, New Zealand?

Question

Would now be a good time to buy, or if interest rates are dropping, is it better to wait for a while?

Answer 1

Hi.I have never seen the housing market going downwards since i have been here (in last 6-7 years).The Interest rate i believe wud drop a little in next 6 months or so but nothing major going to happen.But by that time the same property which u wud be looking at today wud go up by 5-10 % depends on area and the type of house u pick. I wud say the North, central and south auckland clean areas wud keep increasing.Thats what i think .Good Luck

Answer 2

I have a few friends who have recently bought houses in the One Tree Hill area, just on the outskirts, and their prices are raising significantly.
Try to buy a house in an area that is just starting to grow, on the outskirts of a prominent area.
The closer you are to an area that feeds into a prominent school area is highly likely to get you a good return later if you chose to sell.
My mothers house value goes up a couple of hundred thousand grand every other year, so I wouldnt wait around forever to buy your house. She doesnt even live in Auckland!