James

We are back in your life and today our new build townhouse is dead.

Over the last five years, in Auckland alone, we have seen 40,000 new-build townhouses being built, add on top Christchurch with a smaller population.

They're at another 10,000.

Today, we're breaking down whether this property type is fast becoming a dud investment or whether higher density is just realistic for the future and that white picket fence corner section is done.

My boy, Mikey V, is down with the man flu.

He will say it's the real flu, but we know he's just a little bit weak.

I've got someone who can actually turn up when it's required.

We've got our property director, Adam Farrell.

Adam, thank you for showing up.

I do my bits.

It's something we hear quite a bit around like oversupply of new builds.

Yeah, and I imagine the comment section will be like, this guy sells new builds.

The conflict is wild.

You have a new build business.

Importantly, we do also send people to Ilsa Wolf to commercial property type investments as well.

I think that just, yeah, it's going to be interesting to break it down because you do look around, you drive around and be like, this area used to look a lot different.

Cool.

So straight off the bat, Adam, how have new builds developed such a bad reputation?

For me, granted, you can just have some crap out there.

When I'm meeting with clients who have bought new builds, the two things I see that go like, ugh, is when, like, they're in the absolute wop-wops and at the top of the market, people are building in places, and no particular hate on these areas, but Silverdale, QMU, like...