Articles by Matthew Gilligan
I can't see tight finance, tougher tax rules, reduced investor confidence, banned foreign buyers, and a climate of investor bashing and increasingly negative media being a positive environment for property in the next couple of years. Add to this we were at a cyclical peak in 2017 heading into a well-predicted cyclical downturn for Auckland in 2018, with the rest of the country being typically 1-2 years behind the Auckland cycle.
I'm sure there will be other pockets of growth around the country, but residential investment property in Auckland is overcooked and must be flat to declining for at least a few years, if not 4-5 years. After that, rents will rise, household incomes will rise, and what is expensive today will become more affordable as incomes catch up to stalled asset values, and we can thereafter see more growth. But it's 5+ years away.
This letter is to express my appreciation for the assistance and encouragement of both Anthony Lipscombe and particularly John Heaslip over the last financial year. The period since activating my trading trust has been one of considerable stress, as well as personal development, as I embarked on this as a relative business neophyte with virtually no awareness of the contemporary requirements of running a business, particularly the financial records aspect. During much of this period I have therefore felt considerable out of my depth. However I have been lucky enough to have had the benefit of the advice and support of John Heaslip in rationalizing what was a fairly chaotic set of records of the first year property trading. I am able to say that John in particular, has been unstinting in his attention to my needs and has done so in a manner which has never alluded to my extremely rudimentary grasp of managing a business, or even of being unable to set out a spread sheet properly. The result of the above guidance is that now, although my trading trust would still not be able to operate without the advice of GRA, I do least feel a sense of satisfaction that I have got to my present point without major disaster and that my property trust does now have some kind of firmer basis for any future activities - Name withheld by request
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