FEATURE APARTMENTS
Two years ago, Auckland's apartment market was in a slump with students and workers on visas fleeing back to their own countries as the pandemic swept the globe.
The market is improving and is a lot better than it was two months ago, says City Sales sales manager Scott Dunn. “But hindsight is a funny thing and I would say this year has probably been the hardest year since I have worked in real estate.”
Although his time in the industry doesn't stretch as far back as 2008, Dunn says agents in his office and investors, who have been in the game for 20 years, say this is the worst it has been.”
By this, he means the whole property sector, not just apartments – property sales, listing numbers and buyer inquiry have been slow.
At City Sales, March was good, April slowed, May was ground zero, June perked up and July has been healthy.
NOT WHAT IS EXPECTED
What has been flying out the door at the agency are leasehold and remedial apartments. “In any normal market buyers steer well clear of these apartments because they are difficult to sell. In this
