Ten places where you should buy in 2020

New development Fraser Avenue is transforming the Auckland suburb of Northcote  hero

Colliers’ prediction of the 10 best areas for future residential growth in 2020

National Director of Residential Projects Pete Evans says the areas have been selected based on changes or improvements already underway and planned.  These changes and improvements make the selected areas more desirable for residents and investors leading to greater opportunities for capital growth in the future. 

Evans says during 2019 developers were focused primarily on catering to first home buyers’ needs as they have been the driving force behind new developments and the type of dwellings that are being supplied.

“The Auckland market has been relatively stagnant over the last three years. A cooler market has opened the opportunity for first home buyers and with historically low interest rates now is their opportunity to enter the housing market. 

“In 2019 first home buyers became the most active buyers, with the majority looking for well-located apartments and terrace homes that are priced between $500,000 - $650,000, rather than a new home that's likely to be at least 25km from the CBD adding travel time and cost. 

“However recently investors have started returning to the market, a trend that we anticipate continuing in 2020, which will provide sales momentum and construction activity projected to pick up throughout 2020.”

“The focus in 2020 will remain on the supply of affordable homes and regeneration of traditionally less expensive suburbs.

“We believe the tide is turning from strong growth in the regions to the start of the growth phase of a new cycle in Auckland.

“Government and council investment in infrastructure are focused on more affordable suburbs which is improving the liveability of these areas."

Residential projects top places to buy in 2020

  
Read more insights from our experts:

2020 Commercial Property Review - New Zealand office market
2020 Commercial Property Review - New Zealand industrial market
2020 Commercial Property Review - New Zealand retail market


Related Experts

Pete Evans

National Director

Auckland CBD

Pete specialises in residential property development and project marketing. Pete is focused on leading the growth and development of the national residential business line through providing diverse and integrated residential property services, enhancing project design and mix to identified target markets, client engagement strategies, branding and positioning, project sales specialist to sell-out projects, fostering and maintaining service excellence. 

View expert

Jeff Davidson

Director

Auckland CBD

Jeff's career commenced in chartered accountancy before progressing to financial management roles in a range of diverse industries leading to his appointment as Managing Director of a prominent national real estate group before establishing his own consultancy business. Jeff's association with Colliers commenced in 2007 providing consultancy services to Colliers evaluating and making recommendations  to Colliers for new business opportunities. This work led to the re-establishment of the Residential Project Marketing Division in 2008 which has been involved in projects to date with a value of over $1billion. Jeff is responsible for the execution and successful sell down of medium to high density residential projects, liaising with clients, developing products that best meet market needs and driving a team of specialised project sales consultants to achieve targeted sales results that enables construction to commence at the earliest time.

Jeff continues to act as an independent member on advisory boards utilising the breadth of knowledge and experience gained across his diverse work experience. Colliers 2008 - current, RJD Consulting Limited 2006 - current, Bayleys Realty Group Limited 1999 - 2006, Ernest Adams Limited 1997 - 1999, Bridgestone Firestone Limited 1992 - 1997, Arthur Yates & Co Limited 1987 - 1992 and Deloitte (NZ and South Africa) 1980 - 1987. 

View expert

Juliet Lichtenstein

Project Sales Manager

Auckland CBD

Juliet brings patience, persistence and professionalism to the role of project sales manager, making an unbeatable combination for success. Juliet’s strength is in building a natural rapport that enables a seamless process that delivers results for her clients and purchasers.

Juliet joined Colliers International in 2015 and since then has been involved in multiple projects, including the very successful Alexandra Park project in Epsom, with a gross realisation of $294 million and SKHY, Grafton, with a gross realisation of $56million.

Juliet has a background in residential real estate. Prior to joining Colliers she was a sales consultant in the eastern suburbs of Auckland, which involved listing, marketing, negotiating and selling both at auction and private treaty.

Accomplishments

Projects:

  • Alexandra Park – 100% sold within 21 months, currently under construction.

  • SKHY – over 90% sold to date, stage 1 completed in early 2018 and stage 2 completing August 2019.

Juliet is Colliers International Residential Project Marketing’s number one selling agent in New Zealand with over $350 million sales to date.

Testimonial:   It gives me real pleasure to have the opportunity to convey what a positive experience it has been to be involved in the first stage of purchasing one of the apartments at the proposed Alexandra Park development.  The outstandingly personal and friendly way Juliet Lichtenstein and the team explained the project to us and allowed us to consider what the possibilities might be for us.  Juliet's professional manner has meant that at no time did we feel we overpowered by a slick sales process. We are fortunate to have taken the next step in our lives with such a competent professional.                                      L & D Donaldson June '16

 

 

View expert