New Zealand’s exponential real estate market growth over the past few years is officially over, with the nation seeing significant, sustained drops in housing prices over the past year. And everything points to further cooling, making the market the most buyer-friendly it has been in years.
Despite the downturn, buyers are still sceptical about making purchases, with some waiting for further decreases and others worried about the seemingly general instability of the market as a whole. Indeed, it’s a fine balance to find a ‘good deal’ and buy into a region that is less susceptible to such major highs and lows as have been seen across the country of late.
One area that has generally been more affordable than larger cities is Dunedin. While this city has not been fully immune to the market disruptions of the past few years, it’s fared far better when compared to the likes of Auckland and Wellington. This means that current owners and new buyers alike are better able to invest in a comparatively stable market when buying in Dunedin. It may take longer to see significant returns on a Dunedin investment, but the city appears, on the whole, to be one of the safer real estate investment options in the country.
Along with its current and planned expansions and well-established student renter demographic, Dunedin is set to grow both socially and economically; thereby bringing in more buyers and promoting further development. This is good news for anyone looking to invest in real estate in Dunedin, as the city can cater to various buyers with its choice of rental units, family homes, starter flats, and business premises.
As Dunedin continues to grow and has proven itself better equipped at weathering market shocks, more investors are likely to find their ideal real estate option in this city.
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