Surging migration and Auckland’s property price boom

New Zealand’s population increased by nearly 100,000 people in the year to June, it’s biggest annual increase ever, with most of the rise coming from migration. Statistics New Zealand estimates this country’s population grew by 97,300 in the year to June, taking the total population to an estimated 4,693,000. “The last time we experienced population growth over 2% was in 1974, and before that, at the peak of the baby boom in the 1950s and early 1960s,” Statistics NZ senior manager Jo-Anne Skinner said. There has also been a massive increase in the number of Britons and Americans planning to come

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How to avoid fines and tenancy disputes

Managing a rental property can often be a complicated task – its not quite as simple as sitting back and collecting rent. There are many rules in place for landlords that are there to protect the rights of the tenants. If the landlord fails to comply with these rules, it may result in large fines and even prosecution. Here are some simple tips on how to avoid mistakes when managing a rental property. Discrimination When screening potential tenants for your property you are not able to base your selection on factors such as gender, marital status, religious beliefs, race, ethnicity,

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Why you should hire a Property Manager

If you’ve ever owned a rental property or are planning on investing in one, you know that it can be financially rewarding. At the same time, you may be aware that owning a rental property requires a lot of time, commitment and hard work. You may think it makes sense to manage your property yourself, but for some people this isn’t practical. Owning a rental property brings with it many unique challenges – above and beyond the responsibility of ownership. Here are some reasons why you should hire a Property Manager Knowledge and experience Property Managers deal with managing properties

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Auckland speculators flipping homes on same day of purchase

Auckland speculators flipping homes on same day of purchase Saturday Sep 10, 2016 – NZ Herald Data reveal instant resales as sharp investors ‘flip’ properties for quick riches. Auckland property speculators are on-selling homes on the same day of purchase for huge profits, sometimes without even setting foot inside. Incredibly, one Auckland house was sold three times in a single day with its value surging by nearly $80,000 in less than 24 hours. Other astute buyers have “flipped” their new purchases for instant profits worth tens of thousands of dollars, with one speculator pocketing $100,000 the same day they bought

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