Auckland House Prices

Auckland House Prices

by Vicky Crawford -
Number of replies: 0

In the past week I watched Nigel Latta's Haves and Have Nots and it made me think about my own investing. As a homeowner and rental property owner I have benefitted significantly from recent price gains. These equity gains have put me into a position where I have the equity to add to my portfolio. As a parent of a teenager I feel worried about her ability to afford her first home and I would like to buy another rental so that when the time comes I can help her to get into her own home. However, by doing this I am impacting on the first home buyers who do not have my 'unearned' equity gains. It is easy to see how the gap between the rich and the poor will continue to widen. Although I feel 'bad' about this and feel sorry for those trying to get into the market am I prepared to sacrifice my own child and her ability to get into the market by not making the most of my equity situation? Sorry to say but i will be putting my daughter first, particularly when i see that there are so many foreign investors pushing up the Auckland market.