Apartment sector growth predicted

Wellington CBD's apartment market, already a significant sector of the residential property market, should continue to grow in the next two years, according to Bayleys Research. Strong investor and owner-occupier demand the major drivers of the growth showed no signs of slowing, Bayleys latest Wellington Apartment Report said. "Developers are presenting new projects to the market and most are achieving excellent sales success, with the majority of apartments selling prior to the commencement of construction." A recent survey showed the number of units had gone up from about 3060 in 2000 to just less than 4100 this year. The market was poised for further growth in the next 24 months with 22 apartment complexes either planned or under construction. This could add 1485 units to the market, the report said.

Monday, July 5th 2004, 8:32AM

by The Landlord

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Lender

Flt

1yr

2yr

3yr

AIA - Back My Build

3.34

AIA - Go Home Loans

5.89

4.49

4.79

ANZ

5.69

5.09

▲5.29

▲5.69

ANZ Blueprint to Build

7.39

ANZ Good Energy

1.00

ANZ Special

4.49

▲4.69

▲5.09

ASB Bank

5.79

4.49

4.79

ASB Better Homes Top Up

1.00

Avanti Finance - Near Prime

6.35

Avanti Finance - Specialised

7.55

Basecorp Finance

6.35

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Flt

1yr

2yr

3yr

BNZ - Classic

5.99

5.69

BNZ - Mortgage One

5.94

BNZ - Rapid Repay

5.94

BNZ - Std

5.84

4.49

4.79

BNZ - TotalMoney

5.94

CFML 321 Loans

3.95

CFML Home Loans

6.05

CFML Prime Loans

6.25

CFML Standard Loans

6.95

China Construction Bank

6.44

4.85

4.95

China Construction Bank Special

6.44

5.85

5.95

Lender

Flt

1yr

2yr

3yr

Co-operative Bank - First Home Special

4.35

Co-operative Bank - Owner Occ

4.99

4.45

▲4.79

▲5.09

Co-operative Bank - Standard

4.99

4.95

▲5.29

▲5.59

Credit Union Auckland

7.70

First Credit Union Special

4.79

4.95

First Credit Union Standard

6.49

5.39

5.55

Heartland Bank - Online

5.30

5.89

Heartland Bank - Reverse Mortgage

7.99

Heretaunga Building Society

7.45

5.90

5.80

ICBC

5.39

4.25

4.59

4.79

Kainga Ora

▼5.69

▼4.49

▼4.79

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Kainga Ora - First Home Buyer Special

Kiwibank

5.65

5.39

5.65

Kiwibank - Offset

5.65

Kiwibank Special

6.15

4.49

4.85

Liberty

6.65

6.55

6.22

6.20

Nelson Building Society

6.49

4.59

Pepper Money Near Prime

6.55

Pepper Money Prime

5.99

Pepper Money Specialist

8.00

SBS Bank

5.84

5.09

5.39

SBS Bank Special

4.49

4.79

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Flt

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3yr

SBS Construction lending for FHB

3.74

SBS FirstHome Combo

3.29

4.29

SBS FirstHome Combo

SBS Unwind reverse equity

7.99

TSB Bank

6.59

5.19

5.29

5.59

TSB Special

5.79

4.39

4.49

4.79

Unity First Home Buyer special

3.99

Unity Special

▼5.79

4.49

4.65

Unity Standard

▼5.79

5.29

5.45

Wairarapa Building Society

6.15

4.59

Westpac

5.89

5.09

▲5.35

▲5.65

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Flt

1yr

2yr

3yr

Westpac Choices Everyday

5.99

Westpac Offset

5.89

Westpac Special

4.49

▲4.75

▲5.05

Median

5.94

4.59

4.87

5.05

NZ's Financial Adviser News Centre

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Apartment sector growth predicted

Monday, July 5th 2004, 8:32AM

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