Economic and Property Update Video Release
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Articles by Matthew Gilligan
With nearly 900 people in attendance, the Economic & Property Update in March was a fantastic event. Tony Alexander gave his predictions for the economy and property market in 2016, and I talked about strategies for investing in the current conditions. Tony and I both really enjoyed presenting at this event, and we've had some great feedback from the attendees.
We only ran this event once in Auckland, so there were many people who were unable to attend. Because the information is pertinent to all property investors, not just those who live in Auckland, we decided to film the event and make it available to everyone.
Many people are concerned about the potential for a correction in the Auckland property market and the effects this could have on the economy, property owners and investors, and the finance sector. Given that house prices went up by 75% between 2009 (the bottom of the GFC) and December 2015, this concern is perhaps not unfounded – especially when you consider that 25% of that increase occurred in 2015 alone.
There has been much talk about the Auckland market being in a bubble, and some commentators are predicting it will inevitably burst. Already we have seen a cooling off in prices – is this the start of a massive downward slide, or is it a temporary correction? Are property investors better to invest their money in the smaller centres and stay out of Auckland? On the other hand, Auckland still has strong core fundamentals – high average incomes, high employment, an incredible housing supply/demand imbalance, lack of land available for development, and a growing population (both from natural increase and migration). Will this be enough to prevent a crash?
These are all important factors for investors to consider, as successful property investment is about looking at the big picture and minimising risk.
Investors can reduce risk and make prudent decisions if they have a deep enough understanding of the economy and the property market, which is why we ran this event. We invite you to watch the videos and listen as Tony Alexander and I explain what factors are influencing the market and how you can invest in the current conditions and profit, no matter what region you are investing in.
Matthew Gilligan
Director
© Gilligan Rowe & Associates LP
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Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact the author.
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Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
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