With many opportunities in business and employment and the largest population in New Zealand, Auckland has a lot of appeal for couples and families that want to advance their career, but, at the same time, the City of Sails is known for a high cost of living and property prices that hovers far above the national average. Finding affordable and viable property for sale in Auckland to invest in is difficult, and with less homes being built in previous years than ever before, the market is swinging heavily in favour of sellers.
Investing in a residential development
Often offering incentives in terms of price and lifestyle, getting onboard with a new residential development is a great way to buy into an area. Auckland has a few developments still in their initial stages available for investment - the most viable often outside of the central city's suburbs.
The Productivity Commission organised the release of new land for development this year as part of an effort to improve housing affordability problems that many New Zealander's are facing. It's a good time to take advantage of such developments, especially if you want the opportunity to relocate.
With average property prices 100,000 NZD less than those around the region, Papakura offers buyers some fantastic opportunities. Only thirty minutes south of the city and with its own shopping centres and amenity access, there are very few negatives to choosing a home in Papakura over a far more expensive investment in Auckland Central.
Addison development in Papakura
Located just north of Takanini, Papakura's town centre, Addison is a residential development that began construction in 2003. Porchester Road runs through Addison, connecting with Walters Road and then Great South Road, making it just a six minute drive into the centre of Papakura or a 25 minute drive north to Auckland's central city. 1500 dwellings reside on 84 hectares of land as well as children's playgrounds, restaurants and child care facilities; Addison is a development designed for families.
As with many upcoming developments, one of the main concepts of Addison was to maximise both living and outdoor space. Homes and units are usually two storeyed to give more room for living within smaller lot sizes. With initial purchase prices of $300,000 during the planning phases, properties in Addison are now selling between $380,000 and $480,000 and show strong promise for the future. If you want invest in a proven development, Addison certainly is one.
Choose a property in a development like Addison or look out for similar residential developments in the areas surrounding Auckland for more affordability and growth potential well into the future. Make your move to Auckland an effective one by making a wise real estate purchase.
Contact the team at Ray White Papakura today.
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