Economist Renowned for Wise Predictions Ticks Wellington.

“Wellington offered good opportunities for investors, first home buyers, and people looking to free up cash outside Auckland,”  Tony Alexander Chief economist of the BNZ said last week.

“If you gave me $10 million and said go forth and buy a bunch of houses you reckon will produce the best capital gains in the next five years, where would I look? I would sink it into Wellington, Hamilton, Tauranga and a bit in Nelson.”

He expected to see a lot of talk soon about the good city life which Wellington offered.IMG_0460

“The ability to buy a reasonably priced house to raise a family, the fact few head offices are planning to shoot north now, the coming long-term benefits of the Transmission Gully Motorway, IT sector, culture, runway lengthening and the film sector.”

 

A local  Wellington real estate manager Marty Scott said in a newspaper interview:

“Wellington is looking like a good destination for investors in terms of price and yield”.  However he questioned if the growth was driven by out of town investors. He believed it was mostly Wellington buyers. “Currently about 15 per cent of buyers were from outside of the capital and about 3 per cent from overseas. In the last 3 months there had been no shift in these numbers”, he said.

Grow Wellington chief executive Gerard Quinn said there were plenty of job opportunities in the capital, particularly in the strong tech sector.

“With a vibrant city, excellent public transport and easily accessible coastline, the Wellington region offers so much more than lower house prices.”

August 28 2015 09:24 am | And What About The Wellington Market? and Around Wonderful Wellington and New Zealand Real Estate Market

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