Auckland apartment market not quite flat-lining

Mon, 25 May 2020

The Auckland apartment sector is expected to take a 10 percent hit to both rental streams and valuations, with the “low point” expected in about 18 months. Auckland apartment specialist Robbie King expects the impact will be most felt in the coming six months as tourism and shorter-term tenants disappear, with about 15 percent of the stock of about 30,000 apartments back on the rental market. King said with 70 percent of the city’s apartments owned by investors, the current glut of empty residences would represent a “major challenge” to i...

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