Wgtn CBD Apartment & Inner Suburb House equal after 6 Years.

Real Life story. Apreciation the same. I appraised apartment at $470k, conservatively. They paid $265k, 6 years ago. Took owners  yesterday to Northland ( we call it inner suburban, 10 min to CBD)  house to see if they would buy it ( They want a family) . The owners of that house  paid $250k 6 years ago, spent $20k on kitchen & decks. That has new valuation @ @465k. When apartment owners turned up, it turned out they had looked at it but chose the apartment, 6 years ago!

So relative to each other, the same value increase.

So those that say apartments around Wellington do not get the capital gain houses do are proven wrong in this real life example.

November 11 2010 08:02 am | About Wellington Apartments and And What About The Wellington Market? and New Zealand Real Estate Market

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