The median Auckland house price may have fallen $5,000 from a year ago[1] and house prices for March and April are down $30,000 on previous months[2] but this isn’t stopping Chow brothers and NBR Rich Lister’s John and Michael Chow from forging ahead with developing a robust network of home building franchisees across Auckland.
“We are on a mission to provide high-quality housing throughout Auckland” says John Chow – Director of CGML and owner of the Stonewood Homes franchise. “House prices seem to be stabilising across the region which gives us a great opportunity to tap into a market of buyers who want quality housing at a reasonable price”.
Prices in subdivisions such as those in both Belmont and Pukekohe for example can start from as little as $680,000 for a three-bedroom home. “This is starting to become quite an affordable option for younger families and those wanting a house within striking distance to the city” says Chow. “It is our intention to continue our presence in subdivisions such as this to enable more access to the thriving Auckland property market” he adds.
With a new franchise opening in West Auckland next month and two more planned for north of the city, things are not slowing down for the two brothers, quite the oposite in fact.
“There is plenty of opportunity for housing development in Auckland” claims Michael. “This is refleted in our model for growth in this region” he says.
With the current Labour government promising 100,000 homes over ten years, with 50% of them to be built in Auckland, John and Michael feel optimistic about the region. “The growth is here. We just need to tap into it and continue to satisfy market demand” they say. “The market is still packing a punch” they maintain.
[1] Source: interest.co.nz
[2] Barfoot & Thompson sales data – April 2018
