An Evening of Property Insights9th June 2023
We enjoyed a property market update from members KNS Construction and New Zealand Sotheby’s International Realty at their beautiful National Exhibition Gallery in Britomart, Auckland. By the entrance, we had the stunning new Grecale and MC20 from Maserati on display.
Key takeaways were that there will be limited supply over the next few years in the luxury inner city Auckland “buying of the plan” apartment segment due to the lack of new projects being initiated, so now should be a good time to take advantage of existing projects like 51 Alberts or Seascape to get potential long term upside, either for living or as an investment.
The construction industry is holding up and those companies having to scale back, were predominantly those growing exponentially and taking on a lot more staff during and after COVID-19. Material costs have stayed high and there is little expectation that they will come down any time soon due to inflationary pressure.
We also want to thank Pernod Ricard for the beautiful Church Road Reserve wine we enjoyed whilst listening to our inspiring speakers.