If you're casting your net far and wide for the perfect property investment catch, you'll soon find a lot more fish in the sea!
Business indicators manager for Statistics New Zealand has announced that the number of new dwellings approved in 2014 reached 24,680. This is a 13 per cent increase on 2013, and the biggest number of new homes consented since 2007.
Leading the charge was Auckland, which saw 7,595 new homes given the green light, which was met with admiration from Housing Minister Nick Smith.
"The 7595 issued in the city reflects a 20 per cent boost on the previous year and is a testament to the collaborative effort by the Government and Auckland Council to free up land faster and to speed up consenting under the Housing Accord," he said in a January 30 media release.
If you have been scouring the City of Sails for your next investment property, the options available in the coming year could be very pleasing. Of course, don't forget to engage an authorised Financial Adviser to put a plan in place to see your rental yields boosting your cashflow.
Dr Smith also noted future initiatives that may help you get financially organised for a first home purchase.
"The Government has an ambitious agenda of further housing initiatives. We will be launching the KiwiSaver HomeStart scheme from 1 April to assist 90,000 first home buyers put together a deposit on a house," he added.
Combine this with those home approvals and you have a recipe for some fruitful fishing! Make sure to get some great investment advice before you leap into the market though, to set you up nicely for the future.
Here's to your financial independence!
Daniel Carney
Authorised Financial Adviser / Investment Property Expert