Is the Auckland property market stalling?

For the first time in five years, the Auckland housing market is showing unmistakable signs that prices are stabilising, and may even be plateauing. There has been a definite change in the market in the last month. In July, there were 383 Barfoot sales of properties going for more than $1 million, accounting for 47.6 per cent of all sales last month. Barfoot released commentary with the data from its chief executive Wendy Alexander. “For the first time in five years, the Auckland housing market is showing unmistakable signs that prices are stabilising, and may even be plateauing. There has

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Millionaire Auckland landlord reveals how he got rich

Mt Albert investor turns author to encourage others A former $17 per hour Auckland storeman who started out with only $4000 cash wants to tell others how to become multimillionaires via a new ‘how to’ property book – and any impending market downturn doesn’t worry him. Mt Albert man Jonathan Bidmead, 53, says he went from being a storeman in a Newton computer business to being made redundant, to now owning 14 Auckland and New Plymouth properties with 20 residences worth more than $12.5 million and generating just under $400,000 annually. By borrowing from a relative, he set himself on

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