Thursday, November 01, 2007

Auckland apartments

According to census figures, say the headlines, there are “thousands of vacant apartments” in the overheated Auckland apartment market.

That's nonsense, says Martin Dunn of City Sales
, a specialist Auckland apartment agent: there are thousands of Auckland City apartments to which census takers had no access, and from which they took no records. Says Dunn
The Census Department have confirmed to me that if they don’t get access they simply tick the “VACANT" box.

Hence the “thousands of vacant apartments in the city”.
Despite the stories of "vendors taking a bath" -- which, argues Dunn, are mostly vendors who have overpaid "off the plans" but find themselves in a bind when they have to actually settle on their purchase -- he says the apartment market is well- rather than over-supplied, and is "strong."

What's your evidence?

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2 Comments:

Blogger Elijah Lineberry said...

The evidence is simple Peter...

Mr Dunn owns a Real Estate Agency and earns money from flogging apartments to the gullible.

When someone stands up and points out the Earth is actually round, Mr Dunn rings the Herald and shrieks about the "round Earth conspiracy against Apartment developers and owners".

11/01/2007 12:50:00 pm  
Blogger Cactus Kate said...

All over the world with heavily populated apartment blocks somehow census collectors manage to contact everyone. This is more Dunn and "Shitty Sales" nonsense.

Apartments are sitting vacant and until they are full up I cannot see how NZers can justify stating that there is a housing problem or that housing is unaffordable. $300 a week gives a 10% return on those prices quoted - not bad. Of course everyone wants a quick cap gain and not a taxable rental stream.

11/02/2007 02:11:00 am  

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