Friday, Jan 18, 2019
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Ashburton the place to buy? SUE.N@THEGUARDIAN.CO.NZ
An Ashburton real estate agent believes the district’s housing market could be given a huge shot in the arm from North Island investors with cash to spare. Changing lending rules and tougher heating and insulation
requirements for rental properties has seen a flow of local investors exit the market, with few new investors taking their place, and that’s leaving a significant gap in the rental market, Trevor Hurley said. He’s decided he’s not leaving the rental market to chance, opting to
expand the marketing of a portfolio of investment properties in the lower North Island. “Maybe we can turn Ashburton into the investment hot spot of New Zealand. It’s a great area to invest, with good employment and good economic growth. “The cost of getting into the
housing market here is so much less than in many North Island centres,” he said. A significant percentage of his company’s market was made up of investors and over the past year a significant number had sold or were wanting to sell. Add to that a much lower level of inquiry from
new investors who could not meet the 30 per cent deposit criteria and it was clear a different approach was needed, Hurley said.
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Hastings Mcleod Ltd Licensed under the Real Estate Agents Act 2008
Phone 03 307 9176 217 West St, Ashburton pb.co.nz
500306AA
BY SUE NEWMAN