Auckland Property

The Auckland property market is in serious recovery mode after the events which led to the world wide recession which lasted through 2008 and well into 2009. The number of mortgagee sales is starting to decline and prices are starting to firm up especially in the city fringe suburbs of Freemans Bay, Ponsonby, Grey Lynn, Westmere, St Marys Bay and Herne Bay. Although prices of the traditional villas and bungalows are holding, and in some cases increasing, the same cannot be said for apartments, terrace houses and town houses. In St Marys Bay some of the Beaumont quarter apartments owners are reeling as ground rent on leasehold properties are set to increase in 2011 and many are selling at prices below building cost just to get out, this in turn is affecting other areas of the Auckland property market.

Ray White Ponsonby in Auckland, New Zealand serves popular Auckland inner-city suburbs. This small, unique and increasingly sought after geographic area offers proximity to the city centre, the harbour and the lifestyle increasingly desired by Aucklanders. If you are looking for Auckland property take a look at our website today : www.rwponsonby.co.nz

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