Here's 10 reasons to buy property now, says long time investor

Ashley Church, a veteran property investor with 30 years' experience, tells Herald on Sunday business editor Andrea Milner why now is a good time to buy:

1: Buyers have a choice of stock and not much competition at present.

2: Building consent numbers have fallen by 22 per cent and are still falling. Tony Alexander, chief economist of the BNZ says they are at their lowest level since the early-1990s and a homes shortage will start to show later next year.

3: New homes will be more expensive to build as the falling dollar increases the cost of importing construction material and a number of builders have left or are leaving the industry.

4: Investors have been quitting rental properties, which will lead to a shortage and rents rising. "Investors have largely disappeared from the market. Fundamentals driving the need for rentals have slowed but not stopped - rental demand is still strong; it's a recipe for a future boom," Church says.

To read the full NZ Herald article click here

Posted: 16 Dec 2008

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