ECONOMIST GIVES WELLINGTON VOTE OF CONFIDENCE – BEST LONG-TERM VALUE IN NZ

Wellington properties have been identified as having the best long-term value in the country.

According to BNZ chief economist Tony Alexander Wellington was well-placed to benefit from people leaving Auckland because of high house prices.

Wellington offered good opportunities for investors, first home buyers, and people looking to free up cash outside Auckland, Alexander said in a newsletter.

“If you gave me $10 million and said go forth and buy a bunch of houses you reckon will produce the best capital gains in the next five years, where would I look? I would sink it into Wellington, Hamilton, Tauranga and a bit in Nelson.”

He expected to see a lot of talk soon about the good city life which Wellington offered.