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High-end house prices surging

When people ask me why I want to invest in Real Estate or why I have so many investment properties I always think to myself, why isn’t there an article handy like this one because people will listen for a moment or two, nod politely and then ignore what you are saying because they think you might be making it up and it’s too good to be true.

The reality is though that this is happening now and has been happening for decades, I didn’t make it up, I didn’t discover it…I just got on the band wagon.

Will you join me?

House prices in Auckland’s blue-ribbon suburbs are rising fast, latest Real Estate Institute figures show.Data released yesterday compared median prices between October and November. Mt Eden/Epsom was up from $923,000 to $1,025,500, Devonport from $890,000 to $1,014,000 and eastern suburbs including Remuera up from $988,000 to $1,150,000 in just a month.Real Estate Institute chief executive Helen O’Sullivan said: “This time of year tends to be popular for bringing some of those high-end homes to market. We do get a bit of an effect. As a result, house prices in those areas can tend to move quite dramatically.”Some prices were down in the west, with the Waitakeres falling from $560,000 to $528,000 and Henderson down from $515,000 to $511,000.

via Classic Homes | High-end house prices surging.