One surprising outcome of the pandemic seems to be the property boom we are seeing at present. Influenced by different drivers such as those returning from overseas to the safe haven of New Zealand, banks offering historically low interest rates and the removal of LVR’s.
Reserve Bank statistics show that October was the largest increase in monthly and annual mortgages, in fact the annual growth rate of mortgages is now at 7.3% the highest since July 2017. And you only need take a short drive or stroll around Auckland to see all the for sale or sold signs; with reports of many houses selling for well over CV… and it doesn’t appear to be slowing down.
A villa in Grey Lynn recently sold at auction for $3.6million, an increase of $2million from the 2016 purchase price. Similarly, another in Devonport sold for $1.2 million above CV. Several homeowners are now trying to capitalise on these increases putting their homes up for sale.
This has resulted in increased numbers of settlements with several mid-tier and boutique firms discretely contacting us to search for experienced Property Solicitors and Legal Executives to assist in growing their teams to meet the demand in conveyancing.
Have experience in the property space? Now like never before is a great time to explore a variety of fantastic opportunities on offer!
There are several firms in Auckland interviewing right now, so they are in the strongest position in the New Year and onwards.
If this year has left you feeling fatigued and you are considering a new career for the New Year, then get in contact for a strictly confidential discussion around opportunities in the Legal sector 02102242690 or email@example.com
Louise Hall-Strutt, Senior Legal Consultant.