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I witnessed a transaction recently that sums up the Auckland property market.

Over the past two and half years I’ve dabbled in property development, and are in the process of building 35 houses in Avondale. The end result will be 35 finished houses (of which 90% have been pre-sold) in April 2015.

Retail is tough. For every success, there are hundreds of retailers who live precariously close to failure.

The Reserve Bank announced today that new builds will be exempt from the recent LVR restrictions.

With the “property shortage” in Auckland there has been a spike in apartment development and selling off plan.

As a buyer you have to ask yourself to what extent your head rules your heart or whether your heart rules your head.

We've all read or heard that houses are overvalued and that we are not building enough houses. Often the focus is on the cost of building and the amount of bureaucracy. I think the issue is simpler and more fundamental than that.

Buying off plan requires a small leap of faith. You're buying something sight unseen with a few artist impressions and written specifications to fill the void.

2013 looks like it is shaping up to be another big year for Auckland property. Prices look like they could go higher in the growth suburbs, fuelled by the media, general population growth, and lots of investors late to the party.

Pre GFC, property developers had mythical rock star type status. The public face of the industry was full of massive egos, fast cars, illicit drugs, and self-absorbed “beautiful people.” Intelligence has never been a prerequisite to be a Property Developer.

It has been mildly interesting having a skim through the productivity commission report and various commentaries. The issues have been obvious for the past 10 years and the fact we need a 260-page report from a productivity commission to tell us what we already know is ironic.

I've been buying and developing a lot of properties this year either as an investor, or as part of First Home Makeovers. One of our current projects is a property we bought on Hendon Avenue in Mt Albert.