Southern (Auckland) charm
Stephen Dickens takes a look at south Auckland and finds a region that while growing rapidly, still offers potential opportunities for investors.
The average price for a house in the Auckland area now stands at $942,760 in April, up 1.3% from March and 16.5% higher than a year ago.
The biggest increase in Auckland values, however, occurred in south Auckland in Papakura, with an April average of $608,610, up 24.4% from a year ago. In Manukau City values rose by 20.8% to $812,657.
But as property values skyrocket and outpace rent returns, gross yields have taken a big hit, with Auckland dropping to an average yield of 2.3%.
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