Published on: 2014-09-26
Multi Unit Investments find favour
The market for multi-unit dwellings remains strong, buoyed by tight supply and continued investment demand. Investors continue to favour the sector for its strong returns, and simple and solid construction materials.
At a recent auction for a block of flats in central Hamilton the property was keenly pursued by 6 bidders and after strong bidding the property sold under the Auction hammer. What was interesting was the volume of buyers domiciled outside of Hamilton. The buyers lived in locations including Auckland, Taupo and Christchurch. The breadth of the market for multi-units is nationwide and there is a growing flow of money coming out of other centres, particularly Auckland. Being easily analysed and high returning, these investments are underpinned by strong regional growth in Hamilton and the broader Waikato. The outlook for the sector is bright.