New Zealand’s Auckland property market has seen an upturn in investors keen to purchase rental properties according to an investor confidence survey by the ASB Bank.

Jonathan Beale, head of Private Banking and Wealth Management at ASB, said: “The popularity of rental properties in our largest city could be due to several factors, including the relative buoyancy of the property market in Auckland. However this popularity follows a flatter period which started a year ago, so time will tell whether this love-affair with Auckland rental property will continue, especially considering last year’s changes to tax on rental property, and forecast increases in interest rates.”
Beale continued: “There are significant differences in investment sentiment between Auckland and the rest of the country. The results show that we are a nation of two halves when it comes to investments. Aucklanders rate Rental Property above all other investments, while the rest of New Zealand puts Bank Deposits well ahead of everything else.”