Property stats show the Auckland suburbs where prices have soared
In today's Herald: Property stats show the Auckland suburbs where prices have soared
Apartment Specialists director Andrew Murray wasn't surprised. He said Grafton was a "studentville" dominated by budget accommodation and leaky apartment buildings, with no amenities or supermarkets.
Eden Terrace, in contrast, was an area with potential, especially since it was announced that the City Rail Loop would go through there.
Mr Murray said his firm had made a strategic decision to target the area, and it had paid off.
Apartments that last year were going for about $300,000 were now fetching about $500,000. "They were grossly undervalued," he said. "A lot of investors are seeing that as a huge area."