One of New Zealand's biggest real estate agencies has reported a bumper month for December 2014.
Barfoot and Thompson managing director Peter Thompson, told the New Zealand Herald sales in Auckland were the strongest they had been in a December for the past decade, with sales numbers up significantly, prices reaching all-time highs, and the number of available listings reaching an all-time low.
He also added there was a lack of new listings to meet demand in Auckland.
"Even though December was the shortest selling month of the year, we sold 1050 properties, our fourth busiest month of the year. Sales in December were 28.5 per cent higher than in December 2013," he told the Herald.
"At…
New York has ousted London as the top spot for foreign real estate investment in 2014.
America's financial capital was the most attractive city for overseas investors, beating out London in second place and San Francisco in third.
The rankings were compiled from a survey done by the the Association of Foreign Investors in Real Estate (AFIRE).
Thomas Arnold, head of Americas-Real Estate Abu Dhabi Investment Authority and Chairman of AFIRE said in the report:
"As it periodically has been in the past, the United States is currently the target of much of the foreign investment in real estate globally.
"With a stable and transparent market and an economy that appears to be steadily impro…
Two leading property experts predict the property market in Auckland will continue to strengthen in 2015.
Andrew Bruce, president of the Auckland Property Investors Association and Ron Hoy Fong, a property investment advisor both told Fairfax Media in December they expected the already over-heated market to reach new heights.
With the Reserve Bank unlikely to raise interest in the near future and demand outstripping supply both men saw the price rises Auckland has had last year continuing into this year.
They said there would also be increased interest from overseas investors, especially as the threat of a capital gains tax had been avoided.
"I don't see it racing ahead, but I do st…
