Properties in inner city suburbs close to public transport are popular. Photo / Brett Phibbs
Properties in inner city suburbs close to public transport are popular. Photo / Brett Phibbs
KEY POINTS:
The experts' consensus is to buy in main city suburbs with strong communities, preferably within 3km of a city centre, close to reliable public transport, and areas with population growth, water views and diversified employment.
Auckland central city apartments have a low vacancy rate and are a goodinvestment for reliable cash flow, but don't expect much capital gain, says Ray White chief executive Carey Smith.
"The apartment sector is holding up better than any other.
"Prices have come down but sales are good. You can get good cash flow. But you can't do both - get capital gain and cash flow."
Catalyst2 director Tanya Kwasza says city apartments are "still embryonic" in New Zealand.
She agrees they should be viewed as cash-flow investments, not for capital growth in the short to medium term.
However, veteran investor Ron Hoy Fong advises staying away from the apartment market unless you are a specialist in this sector.
