Hawkes Bay OneRoof Property Report - March2021

Monday, March 1, 2021

PROPERTY REPORT ORT

BUT FOR HOW MUCH LONGER? The property market has started 2021 on a high, but will prices keep on rising?

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House price index: How much has your suburb earned?

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2 OneRoof.co.nz

MARKET WATCH

Owen Vaughan Note from the editor

R

eviewing the housing market’s year in Covid, three sales stand out to me. The first took place on April 1, at the start of the lockdown. The auction of a two-bed Auckland home was conducted online and was a sign of things to come, with the real estate industry embracing new methods to keep the market alive.

Online auctions, and remote veiwings, are now standard practice.

The second sale that caught my attention was that of a three-bedroom brick and tile home, just after the country moved to Level 2 restrictions in May. People had been lining up on the street for the open homes, and it fetched $1.6 million - more than $300,000 above RV - at a packed auction. That sale showed Kiwis were shrugging off economic concerns and were prepared to buy.

The third sale was of a 1477sqm property in Otara, South Auckland, in October. Investors snapped it up for $1.1 million - a record for an area that was previosuly seen as affordable. That sale, more than any, showed the extent of the boom and investors’ part in it.

How will the market fare in 2021? Read on to find out.

INSIDE

Cover story Comment Industry view Tables Hot suburb

3-5 7, 10 8-9 13-20 21-22

Don’t expect a slam-dunk end to rising house prices At the start of the Covid-19 crisis market forecasts were grim - but after lockdown Kiwis went on a house-buying spree

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The reimposition of the 40 per cent minimum deposit requirement for investors will not have the same impact as back in 2016.

ouse prices have risen around the country at an especially strong rate in recent months, with high numbers of sales and shortages of stock on the market. How has this situation arisen during a global pandemic and can we reasonably expect it will continue through 2021?

A year ago, we all expected that the Covid-19 pandemic and lockdown would produce recession, high unemployment, and house prices falling anywhere between 5 per cent and 15 per cent. For a while house prices did fall, but only by just over 3 per cent during lockdown.

The economy did also shrink, but the 11 per cent fall in the June quarter was more than reversed by the 14 per cent rise in the September quarter. And unemployment did rise, but only from 4 per cent to a peak of 5.3 per cent and now it sits at a lower rate of just 4.9 per cent.

We can put the strength in the economy and resulting strength in the housing market down to a large number of factors. In no particular order or importance, here are a few of them.

1. We Kiwis were going to spend $10 billion on overseas travel. Being unable to we have instead spent those funds within New Zealand on spas, motorbikes, kayaks, shares, and property.

2. Interest rates were at record lows heading into lockdown and the housing market was accelerating, with average Auckland prices ahead over 3 per cent during the March quarter last year. With rates cut even further from March, bank depositors have been taking out funds now going backwards 1 per cent - 1.5 per cent a year after tax and inflation and

those people reach placed some of that our shores – and money into some Kiwis property. overseas have Borrowers been buying have been able sight unseen to access rates while waiting sometimes to gain entry. below 2 per 10. Momentum cent, most - meaning that commonly just rising prices tend under 2.5 per cent. to encourage 3.LVRs (loan to expectations of value ratios) were Tony Alexander further price rises in removed, so many asset markets (think Bitcoin, more people found their Tesla shares). FOMO – fear of deposits could stretch to missing out on those rises purchasing a property. drives people to buy sooner 4. First home buyers saw their rather than later. Their buying deposits grow firmly during pushes prices higher, they feel lockdown as they kept earning vindicated, they perhaps seek to subsidised wages yet were purchase more while others unable to spend those earnings. holding out for price weakness 5. Expectations of being unable give in and join them. to travel encouraged many Can the surge in prices people to change their plans from 2-3 years of travelling then generated by these many factors continue? No. But come the end buying a property to of this year prices do look like purchasing a property with they will still be rising at a 10 travelling to be done once the per cent pace if not more. This borders reopen. will be especially so in 6. Shortages of labour meant Auckland which only remost businesses were reluctant engaged with the upward leg of to lay off staff and have been its house price cycle at the start quick to seek new people since of 2020. the economic upturn became That is a key reason why the evident. reimposition of the 40 per cent 7. We went into the lockdown with listings down more than 60 minimum deposit requirement for investors will not have the per cent from a year earlier. same impact as back in July That shortage has worsened, 2016. In that earlier year especially as vendors worried Auckland was overdue for a about not being able to buy pause, having experienced quicky have been looking to make a purchase before they list strongly rising prices for four years. The rest of the country their property – thus was still catching up. aggravating the listings Nonetheless, the return of a shortage.

40 per cent LVR will be one 8. The household sector went factor encouraging a slowing in into lockdown with low debt the pace of price rises during growth in recent years and low 2021. Another factor will be the levels of risky debt because of anticipation of borders LVRs in place from 2013 and reopening slowly causing banks applying high test people to shift their plans away interest rates for debt-servicing from housing and back toward purposes. travelling, or at least putting 9. Expectations of expats money aside for that eventual returning and foreigners eager travelling. to shift here once the borders History also tells us that in all reopen has incentivised Kiwis price cycles, just as reluctant to make a purchase now before

buyers eventually capitulate and dive in, so eventually do hesitant vendors eventually feel prices may be as good as they are going to reasonably get, and they list their properties. In particular, vendors holding out for prices 30 per cent above valuation eventually ease off and accept prices just 10-20 per cent over. Some investors also start selling properties which might need some extra maintenance.

Higher prices also, eventually, discourage buyers and encourage more vendors generally. It pays to note for instance that although stocks of listings are low, in January new listing numbers were around 15 per cent higher than those received in January 2020. There are properties being advanced for sale, and it will not take much of an easing in demand for stocks to start rising again – which will encourage the capitulation of sellers noted above.

The Government has also made it clear that there are some extra measures coming aimed at boosting supply and curtailing demand. History tells us that such measures outside those initiated by the Reserve Bank don’t tend to have strong shortterm impacts. Nonetheless, if the messaging is good enough, some calming can be expected.

There are no slam-dunk factors suggesting an ending of house price rises in the near future. But all cycles eventually turn, and all emergency-type effects eventually fade. 2021 is likely to be a story of many of this past year’s unusual factors easing off in strength and producing a slowing of average house price growth all around the country.

- Tony Alexander is an economics commentator and former chief economist for BNZ. Additional commentary from him can be found at OneRoof.co.nz and tonyalexander.nz

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COVER STORY

New Zealand house prices ices have reached a record ices by $140,000. But high, outstripping pre-Covid prices the boom has many worried that pricess are out of es control and need to reined in. OneRoof examines the state of New Zealand’s post-Covid housing market and picks the winners and losers.

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he post-Covid housing boom has been great for sellers across the country but hard on those breaking into the market for the first time.

The latest OneRoof-Valocity figures show a market at full speed, with buyers hitting the market in the first two months of 2021 in force and investors rushing to beat the March 1 return of the LVRs and 40% deposits.

The demand side of the market continues to be driven by low interest rates, fear of missing out and a lack of new stock coming onto the market.

Despite record prices being achieved in most markets around New Zealand, the dearth of new listings has put off would-be sellers, who are

unwilling to list in the belief they’ll be unable to buy another home in their desired price bracket.

What are the numbers showing?

The OneRoof-Valocity house price index, designed to measures the changes in median property values postCovid (from March 25, 2020 – the day before the country went into lockdown), shows the housing market was performing well in the months leading up to the pandemic’s arrival, driven by strong regional growth. PostCovid, the nationwide median property value has jumped 14.8%, the result of increased buying activity by first home buyers and investors.

House prices in every region now are tracking above preCovid levels, a big improvement on the period immediately after the lockdown was lifted when house prices in eight regions were below or at the same level as they were before the pandemic struck.

The boom can be seen clearly at a Territorial Authority level.

Just one TA - Central Otago – is now in a worse position now than it was before the almost two-month-long shutdown of the property market starting on March 26, 2020. This is down from 22 TAs in July, 11 TAs in November and four in December. However, it does represent a slip on January’s figures when all TAs were in positive territory, and reflects

that there is still a clutch of TAs – including Queenstown, Grey and Southland - that has yet to fully recover and feel the heat seen elsewhere in the market.

House price growth in several TAs has been significantly stronger postCovid than pre-Covid, with Gisborne leading the pack. Its median property value is 35% up on pre-Covid levels - a level of growth that's almost 14 percentage points ahead of the best TAs: Tararua (up 23.4%), Palmerston North (up 21.8%), Hastings (up 21.1%) and Ruapehu (up 20%). Those TAs have benefited from increased activity from both first home

buyers and investors, who have been seeking out affordable stock.

There are clear winners among the major metros as well: • Wellington is now firmly a $1 million-plus city, with the median property value there jumping 18.3% post-Covid.

• All areas of Auckland are showing strong house price growth, with only Franklin, Waitakere and Papakura sporting median property values of below $1 million, although Waitakere is just $5000 shy of crossing that threshold.

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COVER STORY • Christchurch, the worst performer before the lockdown, has enjoyed a post-Covid resurgence in its housing market, with first home buyers particularly strong.

• Queenstown Lakes is no longer bleeding but growth is slow.

• Dunedin’s strong run before Covid struck has spluttered post-Covid. It is second-worst performing major metro – seeing growth of just 9.5% since March 25, 2020. In the lead-up to the pandemic it was the best performing major metro, enjoying median value growth of 23.4% (number two and number three – Wellington and Hamilton – were way behind with 8.2% growth). This is likely the result of low listings and vendor reluctance driven by fear they have no home to move to if they sell.

Too hot for some Lesley Harris, from the First Home Buyers Club, says her members are absolutely the losers in this market of spiralling house prices.

“You require more deposit, you require more lending, so the flow-on effect is it becomes more out of reach for first-home buyers. If you’re buying in the same market it’s six of one, half a dozen of the other but, if you’ve got out of the market or you’ve yet to get on to the bandwagon, they’re the people that are going to be suffering from any increases.”

Mortgage broker John Bolton, owner of Squirrel mortgage company, says anyone who has stayed in the market has been a winner and that people who purchased last year are probably now feeling pretty lucky.

Other big winners are people who have been lucky enough to have won the ballot for a KiwiBuild home. “If you were to win the ballot, that’s amazingly good value for money. You’re buying a threebedroom terrace house or apartment for $650,000 in Auckland and these things would have market values of close to $800,000 so you really are getting a massive leg-up with KiwiBuild at the moment,” he says.

Other first-home buyers, however, are facing a tough market to get into, although Bolton says there will be a lot of new builds coming on to the Auckland market soon which might help.

“You’ve seen it with the spike in building consents over the last six months.

I’m aware of a lot of development stock that will be coming to market this year and that’s exciting.

“I think for a first-home buyer realistically a lot of the existing stock is just too expensive for them now but this is where maybe a lot of this new build activity and buying off-

plan could be a really good option — maybe some other winners are people who bought off-plan a year ago so they’ve got newly completed properties coming into fruition, where they’ve probably had a decent lift in value.”

As far as locations which have done well post-Covid go, Bolton says “everywhere. The whole country seems pretty strong at the moment.”

Adam Thomson, director of Ray White Manukau, says in his patch, among those who have benefited most from the price boom are neighbours who have got together to sell properties.

not just buying their first property but their second or third, telling investors, for example, “If you bought this now you could put your second one on it and then your third.”

He says, “It’s quite a good strategy, I think, for an investor if they’re looking down the line.”

Developer buyers might be some of the big players, who have contracts with the likes of Kainga Ora, smaller companies or more inexperienced individual players.

“There are people that are doing it to build and sell “You require more deposit, you require more as new homes lending, so the flow-on effect is it becomes like a business more out of reach for first-home buyers. and there are They’re the people that are going to be other people suffering from any increases.” building them to rent as an investment; and This is such a good strategy he has adapted the way he is there are a few people who have marketing property, saying if moved from investing in a someone decides to list and has property to wanting to do a bit a bit of land, he will door-knock more and develop.” neighbours who also have a bit Others who have benefited of land to see if they also want from the boom are developers to sell. who had been at the end stage That way, both parties make of a subdivision or property last year who may have been a lot more money from the competition between hungry thinking each home would fetch developers who want to build around $800,000 to $900,000 terrace houses on the sections. only to find the home selling “If you ask, ‘Who’s been the now for more than $1m. winners?’ it’s been people with People who larger blocks of land — and by panicked and large, I just mean 800, 800, 1000, sold when Covid 1200sq m. We’ve probably seen first hit haven’t done so well, he 20 to 30 per cent growth on those in the last six months. says, nor have “People have really clicked those who on to what the new [Auckland waited to buy.

Unitary] plan allows and He remembers they’re saying, ‘Well, we taking calls from thought we could only put three on these sites but we can put six on so they’re worth a lot more than we thought.’”

Buyers either want to develop the land now or save it for later and when neighbours do team up they are fetching sometimes 20 to 40 per cent more than they would if they sold separately.

Thomson says a lot of buyers are looking at the future and thinking about

people nearly a year ago saying they were going to wait to buy until after the wage subsidy ran out in the hope they would pick up a bargain from people forced to sell but that didn’t happen and now those buyers are having to pay 20 per cent more.

Agents from other parts of the country say it’s hard to define who are the winners and losers in the current market because there are people missing out in every price bracket.

David Platt, managing director of Tommy’s Real Estate in Wellington, says the market in the capital is still running hot and each property listed is receiving

multiple offers.

And Simon Martin, managing director of Harcourts in Tauranga, says there is no specific buyer group missing out. “Demand is good. It’s not like excessive but if you’ve got four people who want to buy a property only one can buy it. I’s really going to be the one who’s got the biggest horsepower.”

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WHO’S ON THE UP?

The index measures value change since March 25, with the baseline set at 1000 for each location.

Tauranga house prices have soared on the back of strong buying activity among first home buyers and investors/developers, as well as those on the hunt for a holiday home. Its median value is striding towards the $1 million mark, lifting 17.8% postlockdown.

WELLINGTON

Porirua and Upper Hutt have benefited from new build activity while Wellington City is now in the million dollar club, with the city's pace of growth pre-Covid more than doubling after lockdown lifted.

Investors have put the squeeze on first home buyers.

CHRISTCHURCH Christchurch has gone from zero to hero in the past 12 months. All 112 suburbs have shown value growth since lockdown, with values in eight lifting 20%. Driving its success is increased activity by first home buyers, who accounted for 42% of new mortgage registrations last quarter.

QUEENSTOWN Covid floored Queenstown’s housing market: value levels stalled then declined in the immediate aftermath of the nationwide lockdown. However, the market has started to recover, with the current median value of $1.11 million representing a 3.4% increase since lockdown.

DUNEDIN If there has been a big loser postCovid, Dunedin is surely it. Property values in the city were growing at a rate 23.7% before Covid. After lockdown the market struggled, and is only now seeing growth - admittedly just 9.5%. First home buyers have somewhat retreated form the market.

INDEX

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Mar 25

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Dec 28

INDEX

TAURANGA

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1200 1150 1100 1050 1000 950 900 850 800

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INDEX

Hamilton’s housing market turned ina sold performance post-lockdown, with its median value growing 14.7% to $745,000. Most suburbs saw growth in line with the city as a whole but Fairview Downs and Hillcrest nudged towards a 20% lift. Investors have dominated the market.

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INDEX

HAMILTON

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The OneRoof-Valocity House Price Index measures the change in property values for Territorial Authority since the start of the Covid crisis. The TAs are ranked according to the size of the percentage change. The median value for each TA is given also.

Territorial authority

INDEX

Auckland’s housing market has suffered three lockdowns but is still in boom territory. The strongest value growth can be found in Papakura (up 20.7% since the first lockdown). House prices in nearly 98% of the city’s suburbs have outstripped pre-Covid levels, with 17 showing growth of above 20%.

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INDEX

AUCKLAND

1200 1150 1100 1050 1000 950 900 850 800

WINNERS AND LOSERS

Where house values landed post-Covid-19.

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Gisborne Tararua Palmerston North Hastings Auckland – Papakura Ruapehu Marlborough Porirua Upper Hutt Rangitikei Wairoa Wellington Kāpiti Coast Tauranga Lower Hutt Whanganui Carterton Christchurch Horowhenua South Wairarapa Kawerau Opotiki Auckland City Manawatu Napier Auckland – Waitakere Far North Hamilton Auckland – Manukau Masterton Ōtorohanga Waitomo Kaikōura Mackenzie Waimate Auckland – North Shore Waikato Auckland – Rodney Western Bay of Plenty Tasman Waipā New Plymouth Buller Taupō Auckland – Franklin Whakatāne Thames-Coromandel Kaipara Stratford Nelson Gore Rotorua Matamata-Piako Waitaki Hauraki Whangārei Invercargill Dunedin Waimakariri Clutha South Taranaki Timaru Ashburton Central Hawke’s Bay Hurunui Selwyn Westland Grey South Waikato Queenstown-Lakes Southland Central Otago

House price index change

35.0% 23.4% 21.8% 21.1% 20.7% 20.0% 19.9% 19.4% 19.3% 19.2% 19.1% 18.3% 18.2% 17.8% 17.4% 17.4% 17.2% 16.9% 16.9% 16.6% 16.4% 16.4% 15.6% 15.6% 15.3% 15.3% 15.3% 14.7% 14.4% 14.2% 13.9% 13.9% 13.7% 13.7% 13.7% 13.1% 12.8% 12.8% 12.6% 12.6% 12.2% 12.1% 11.8% 11.6% 11.6% 11.4% 11.3% 11.2% 11.1% 10.8% 10.6% 10.4% 10.2% 10.2% 10.2% 10.0% 9.9% 9.5% 9.0% 9.0% 8.4% 8.0% 7.6% 7.5% 6.5% 6.5% 6.4% 6.2% 5.6% 3.4% 1.9% -1.5%

Median value

$550,000 $345,000 $625,000 $665,000 $870,000 $310,000 $575,000 $825,000 $760,000 $380,000 $295,000 $1,025,000 $790,000 $850,000 $800,000 $450,000 $565,000 $535,000 $500,000 $705,000 $350,000 $435,000 $1,250,000 $560,000 $705,000 $995,000 $580,000 $735,000 $1,035,000 $525,000 $485,000 $330,000 $560,000 $560,000 $340,000 $1,310,000 $810,000 $1,105,000 $910,000 $730,000 $775,000 $570,000 $245,000 $640,000 $810,000 $615,000 $835,000 $675,000 $385,000 $660,000 $315,000 $600,000 $605,000 $390,000 $555,000 $675,000 $395,000 $600,000 $565,000 $330,000 $335,000 $415,000 $405,000 $480,000 $475,000 $655,000 $305,000 $240,000 $365,000 $1,100,000 $460,000 $635,000

6 OneRoof.co.nz

HAWKE’S BAY, A GREAT PLACE TO CALL HOME.

BY SABINE

DAVISON

HAWKE’S BAY SALES MANAGER M: +64 27 222 8110 | sabine.davison@nzsir.com

I am pleased to continue our association with this One Roof Property report and hope this publication and our comments help to keep you better informed for your real estate journey.

I think you will agree that Hawke’s Bay is a great place to call home and equally a great place to own a home, take for example the recently released REINZ statistics for January. Traditionally this is a slower time of year in the real estate industry as folks rightly focus on holidays and relaxing rather than property transactions. This, however, proved not to be the case in Hawke’s Bay, with reported figures showing another record median price for Napier and the region as a whole. Napier’s median sale price was $770,000, up almost 10% on December.

Hastings however saw a decrease to $557,000 from December’s $682,000, albeit increasing year on year. Hawke’s Bay’s median price as a whole was up to $692,500, buoyed by substantial increases in CHB

What does this mean for Hawke’s Bay? We can probably expect the property market to continue to show growth over the coming year, but at a slower, more sustainable rate. Remember, while some of us are staggered at the prices we see being achieved locally, Hawke’s Bay still represents good value compared to our larger cities.

Two recent economic studies back this opinion. A recent Westpac economic regional survey showed the Gisborne/Hawke’s Bay region showed a 33% increase in economic confidence, the highest in the country. An ANZ study showed that business confidence New Zealand wide is back above pre-Covid levels.

and Wairoa District on top of Napier’s record. Hawke’s Bay was one of only four regions to achieve a record median sale price in January.

Our offices in Havelock North and Napier are seeing strong demand for bare land as purchasers look to build their own home rather than pay

On the flip side, the number of sales over this period were down quite

the higher prices required in this market for an existing residence. If councils can work effectively with developers to bring more land online,

markedly due to low stock availibility – a 53% decrease compared to December and down 39% compared to January 2020. With this low level of stock, the available properties for sale were selling like proverbial hotcakes. This is evidenced in the reduced ‘days to sell’ figure of 28 days, down five days since last month.

Elsewhere in the country, fewer records were being achieved in January, and arguably this could be the first signs of a slow down in the market since lockdown. Or, it could merely be the seasonal trend coupled with the reinstatement of the 40% minimum Loan to Value Ratios (LVRs) for investors, which are now back in place.

this will provide more options for buyers and benefit the regional economy as a whole.

While I believe the outlook for real estate is great, the recent short-lived rise in Covid levels was rather sobering. If a full lock down occured again would the property market, or the country as a whole, bounce back quite so quickly? Let’s hope we don’t have to find out.

I hope this publication leaves you more informed about the property market. I encourage you to talk to one of my team should you require more information, advice or an appraisal of your home’s value.

Sabine Davison 027 222 8110

Kiki Abel 027 871 9111

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7

FORECAST

Supply issues and lack of listings a vicious cycle Here are the key areas to watch as the industry navigates through uncertain times

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nfortunately, crystal balls are a scarce commodity and moving into the second decade of the 21st century it’s difficult to say what the economy — and in particular the housing market, is going to do next.

After a year in which the country faced its biggest health crisis in 100 years, eventually eliminating — at least for now — the virus that is currently ravaging the globe, the economic meltdown, job losses and company failures that New Zealanders were primed to expect, have largely failed to materialise.

At the height of the emergency, such doomsday scenarios were predicted to result in a cooling effect on the property market, however, a year after the protracted lockdown of March and April 2020, it’s more buoyant than ever — underpinned by seemingly insatiable demand, limited supply, returning expats and record-low rates.

Here are a number of key areas to watch as the industry

navigates through unprecedented and uncertain times.

LVR (loan to value ratio) limits have worked to temper the investment property market in the past, and the Reserve Bank of New Zealand plans to reinstate them just before the second quarter of 2021. While they’re designed to slow the market and increase affordability levels, I suspect we’re going to see an uplift in the immediate future as potential buyers race to purchase before the new rules.

The issue of supply will continue being a challenge to address, given that New Zealand needs an estimated additional 100,000 residential properties. As a country, we haven’t made significant headway in terms of constructing new homes in the required volumes.

Building consents are currently at their highest point since 1974, but those dwellings still have to be built and demand is not being met in almost all of the provinces.

Working remotely has become easy and acceptable in many sectors fuelling movement between regions.

Naturally, lack of supply leads to affordability issues and

unmet demand is still pushing up prices. Of course, it needs to be noted that on the other hand, this situation brings a sense of wealth to those with significant equity in their properties and no intention to sell, which ultimately benefits the economy as these homeowners spend their cash.

Even when the new LVR rules are in place, I don’t envisage the affordability issue being resolved in the short to medium term.

The supply issue and lack of listings is a vicious cycle.

Ironically, despite the current low interest rates, first-home buyers are still finding themselves continually frustrated, with multiple offers on the sorts of residential properties that used to be a beginner’s domain — and this is happening countrywide.

Here is where the return of LVRs is supposed to help these people out by slowing down property investment but, even if it does, banks are still being very conservative when it comes to lending.

Given that most first-home buyers are now in their mid-30s,

Bindi Norwell

“It’s not all doom and gloom for first-home buyers if they’re prepared to be flexible.

Banks are increasingly open to creative approaches to getting on to the property ladder.”

they could potentially still be paying off their mortgage after retirement. In other words, the banks see it as their responsibility to take a long-term view — and of course it’s in their own best interests to do so.

However, it’s not all doom and gloom for firsthome buyers if they’re prepared to be flexible.

Banks are increasingly open to creative approaches to getting on to the property ladder. First-home buyers can often get significant help from their parents whose own properties have risen in value, so that’s one possibility.”

Lateral thinking can help potential buyers come up with other potential schemes.

Co-ownership with friends and family is often feasible, rent-to-buy schemes are increasingly common, and we’re even seeing two couples joining forces and collaborating on a do-up, doing the work themselves to help build equity.

Government regulations are also set to change property trends in 2021.

Labour made a number of pertinent promises as part of its housing manifesto and we’re watching with interest to see

how they play out. Simple changes to unitary titles should provide scope for new building although that brings its own issues with densification, which have to be worked through.

The imminent disassembly, then a rebuild of the current Resource Management Act — with three new specific entities, will ultimately lead to an easing of pressures on the property market by concentrating on natural values — rather than amenity values, taking various stakeholders’ considerations into account, in order to free up more land for development.

However, it may take years before we see a tangible difference from these changes.

The problems we have are well documented and clear cut, so with government, property industry and developers’ commitment, these various initiatives could really challenge the status quo. With considerable focus on addressing housing affordability and being bold and open to new innovative ways to build at scale, we have an opportunity to address this fundamental issue as a country.

- Bindi Norwell is chief executive of the Real Estate Institute of New Zealand

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INDUSTRY VIEW

FIGHTING THE FOMO

Real estate agents recognise the struggle to own a slice of heaven is real for would-be owners, writes CATHERINE MASTERS

S

ome real estate agents in the regions say prices have gone so high they fear fewer people will end up owning their own homes.

But they also say there is land out there and councils and the Government need to open it up for building.

The Reserve Management Act is stifling progress and until these issues are sorted prices will not likely recede.

In the meantime, FOMO (fear of missing out) rages on in the regions and this is also contributing to high prices.

Elanor MacDonald, of Ray White Hawke’s Bay, says the market started slowly last year but momentum was well underway by Christmas.

“The number of properties available has dropped considerably and we are still very short of properties to both sell and rent across Napier, Hastings and central Hawke’s Bay. “It is difficult to see how and when this shortage will be alleviated.”

Rising prices are still an issue, especially for first-home buyers, due to the supply and

demand problems.

“There is a lack of new development due to a shortage of affordable available land.

“Councils need to look at policy to allow further rezoning and faster resource consent for land developments.”

Sellers who can afford to buy first and then sell are in the box seat, she says, along with investors who often don’t require the same level of due diligence as first home buyers.

Sellers reluctant to market their homes in case they can’t find another property are likely to miss out in a competitive situation when they put in offers conditional upon selling, and buyers need to move quickly with due diligence to ensure they have their ducks in a row before making offers.

While MacDonald still sees Covid as a threat, she says the market doesn’t appear to agree.

In Hamilton, Jeremy O’Rourke, from Lodge Real Estate, says last year “we went in with a housing crisis and came out with the same crisis.

“We didn’t have enough houses for our population

beforehand and so afterwards supply continues to be the issue, not the pandemic.”

The buoyant Hamilton economy is attracting a lot of talent to the city, with housing consents hitting their highest levels last year but when, and if, the market will level out is impossible to predict, he says.

“For now, the biggest opportunity for buyers and sellers is the market itself.

Whatever property a buyer can get into I would do so as the market continues to rise and

point this year. While we would all like to see homeownership more accessible and housing affordability improve, I cannot foresee a quick solution.

“Simply put, there needs to be a concentrated effort on increasing supply and making it easier for developers to build at pace.”

Purchasing off the plans this year is likely to be a real opportunity for buyers who can often expect price growth come time of completion, and while Coombes sees Covid as an idle

“Housing affordability will be a major political discussion point this year. While we would all like to see homeownership more accessible and housing affordability improve, I cannot foresee a quick solution.” those not in risk being left behind.”

Buyers may find opportunities in developments like duplexes and by hunting for good properties in less popular suburbs.

Fraser Coombes, managing director of Ray White Hamilton, says first-home buyers and investors remain active but, as they don’t add to supply, demand is likely to outpace supply again this year resulting in higher prices.

“Housing affordability will be a major political discussion

threat to the market. He says last year was a reminder how much Kiwis love property and see it as a safe way of holding wealth in uncertain times.

“I wouldn’t say house buying is immune to the virus but I would say Kiwis’ passion for property, be it a first home, upsizer, downsizer or investor, remains very strong and optimistic across most markets.”

Simon Anderson, from Realty Group, Tauranga, says for every buyer there are others who miss out, so availability of

property is key in the year ahead but housing affordability is a real worry.

“As a parent of three children, and a holder of the Kiwi dream, my hope is for them to own their own home one day.

“The easy solution is to just build more affordable homes, however, the fact is we all know there are no free tradespeople right now to build more homes, even if we could source the land.

“It’s not a magic wand exercise but a holistic approach is needed across central and local government plus developers and landowners.”

A big concern is the number of people in emergency or temporary accommodation due to the shortage of rentals and suitable property, he says.

Anderson also says Covid remains a concern but that owning a home gives certainty — but to remember repayment happens monthly and interest rates can change.

Simon Tremain, of Tremains Hawkes Bay, says Tauranga, Rotorua, Taupō, Hawke’s Bay and the Wairarapa represent the heart of regional New Zealand in the North Island with buyer demand at an all-time high but a lack of supply.

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“The current buyer frenzy does not look like having any change in the short-term, with new price levels being achieved in all our regions. I maintain regional New Zealand is where many families would like to live, providing they can find satisfactory employment and a family home to buy or rent.”

With LVRs due back soon and low interest rates, the year will be an interesting one to watch. “My main concern is for our children who will continue to find it near impossible to enter the New Zealand real estate market in the future.”

Ray White Rotorua’s Tim O’Sullivan agrees: “The thing I fear most for the housing market in the months ahead is that fewer and fewer people will, be able to own their own homes. I recently sold a property to a lovely young couple who had previously missed out on several properties, however, they were over the moon to have finally achieved their dream. They wanted us to leave the SOLD sign up after they moved in because it was still so surreal, as they put it, to at last own their own slice of heaven.”

What gives O’Sullivan hope is market forces eventually leading to councils and the Government freeing up more land. “We have so many clients wanting to build a new home but there are only a small number of sections available.

The economic benefits when someone builds a new home are

House prices have risen across New Zealand on the back of low interest rates. Photo / Fiona Goodall

immense. Apart from building the house with all the associated trades involved and the building materials, you have new fences, driveways, and landscaping, which includes lawns, plantings, veggie patches, fruit trees, etc,” he says.

“The roll-on effect from that is that many who build a new home have an existing home to sell which creates more stock to the market and the new owners of that home will often doubleglaze the home, modernise the kitchen and bathroom and in some cases create a second bathroom.”

Shona Duncan, principal of Sothebys Rotorua, says limited stock is putting upward

‘Purchas’ is an excellent name for a real estate professional, but Richard Purchas’ extent of knowledge and experience runs much deeper than his name alone. Richard began his real estate career in 2001 in Havelock North. After a 15-year sabbatical in the United States, he has returned home to the village and looks forward to utilising this world of experience to provide exceptional real estate service. Richard puts his sales success down to the simple truth that achieving outstanding results should not compromise honesty and integrity.

Call Richard today for a friendly chat about the best ways to achieve the results you deserve.

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pressure on prices. “These record levels manifest in houses selling quickly (24 days is the current regional average) and at record prices as buyers have to spend more to secure the scarce properties on offer.”

And Steve Lovegrove, of the Professionals Rotorua, expects when the borders reopen there will be an explosion of people wanting to migrate to New Zealand.

“We will emerge as the most desirable safe haven from any perspective and thus people with money and the means to do so will flock here. Unless we can dramatically exceed — and, I mean, it will take a miracle — the level of demand increase for housing through massive

injection of supply our marketplace and prices will not recede any time soon.”

Lovegrove says house prices are not the problem to housing affordability issues. “Far from it. Housing supply is. Prices are only a consequence of poor supply — fix the supply issue and you fix the price problem.”

The Reserve Management Act is the real problem — “it is the cholesterol that is clogging up the flow of critically-needed housing supply”.

“We absolutely must see bureaucracy cut at central and local government levels and the flow of supply released — any other suggestion is like using band aid for heart surgery.”

9

In this market buyers should take advantage of capital gains and pay the bank back faster while there are low interest rates, and sellers should get the sharpest negotiator they can.

“Don’t ever go with a discount agency. If they don’t know their own worth they won’t be able to establish yours. You need a tough negotiator to make the most of the competition,” Lovegrove says.

“Here’s a clue: it’s your biggest asset. Get the most expensive agent that refuses to discount his fee — that’s the same guy/girl that will use those very skills to get that genuinely better offer for you.”

As for Covid, the housing market has always been immune, Lovegrove says.

“Houses don’t catch the flu, but it does seem to cause havoc among economists. In fact, Covid 19 has been a catalyst for house prices if anything and will continue to be so.”

Ritesh Verma, branch manager of Property Brokers Whanganui, says if Covid does return there could be a slowdown.

More houses have entered the market since Christmas but there’s still a shortage and he also worries about housing affordability. “As much as it’s good to see house prices rising you don’t like to see homelessness or first home buyers being priced out of the market. Freeing up land faster and making the RMA easier to work through will be good.”

10

OneRoof.co.nz

COMMENT

Roller coaster is always on a loop cycle Covid-19 may have been an early trigger for the housing market surge but boom was bound to happen

I

f you base your view of the property market on media reports and commentary you’ll have been hard pressed to form any sort of consistent view over the past 12 months because the market has been on a roller-coaster ride.

As recently as May last year some commentators were picking a drop in house prices in the wake of Covid 19 — with at least one of the major trading banks predicting that house prices would plunge by up to 15 per cent. Now, we’re in a period of sustained house price growth with house prices increasing by 14.8 per cent since the beginning of the lockdown according to data company Valocity. That’s a 30 per cent spread between the worst Covid-related prediction and the actual performance of the market — so it would be an understatement to say that these are unusual times.

It also makes it very difficult to identify who are the “winners and losers” of the market. This may be a favourite pursuit of media companies

who like to present things in absolutes — but precisely who the winners are can change from month to month. This was best demonstrated by an email I recently received from someone who had read one of my recent articles and was taking me to task over my support of property investors. His argument was that investors are closing first-home buyers out of the market and need to be regulated to curtail their excess.

I understood his frustration — but his statement was only true if you look at the property Higher house prices have made us wealthier as a nation and are the single biggest reason that New Zealand is now the fifth wealthiest nation in the world.

market through a very narrow lens of just a few short months.

However, if you look at the market in a broader context we know that first-home buyers have been the dominant buyer group in most of the country for the majority of the time since 2013. This makes picking a “winner” subjective and ultimately meaningless.

There’s also a question over how much Covid has really impacted the market and how

much of what’s currently taking place would have happened anyway or has happened as a result of responses to Covid rather than Covid itself.

Let me provide two examples to make my point: • House prices in Auckland would have been starting to increase whether Covid had Ashley Church happened or not, and I’ve been predicting this in my commentary since as far back as 2017. This is because of something called the property cycle in which house prices increase in six or seven of every 10 years and stay flat in the other three to four — so while Covid related initiatives may have brought the next Auckland boom forward by a few months, it was due to happen anyway.

Covid didn’t create it.

• The burst of Property Investor activity prior to the reimposition of the Loan-tovalue-ratio (LVR) restrictions is arguably an unintended consequence of those same restrictions. In other words, if there were no LVR restrictions there would be no panic to beat them and Investors would be acting in a more considered way. In this respect, the Reserve

Bank continues to be the architect of the very conditions it claims to be trying to address.

So are there any “winners” who can be reasonably said to have benefited from Covid in a way that would not have happened if the Covid pandemic had never taken place? I can think of three: 1. Anyone who has a mortgage.

While the trajectory of mortgage interest rates has been down over the past (almost) 40 years — it’s unlikely that rates would be at their current historically low levels if Covid had never happened — so anyone who has a mortgage is better off as a result of the pandemic.

2. Property owners in the regions. While the property cycle means that Auckland house prices would be starting to go up about now whether Covid had happened or not — the rest of the country generally runs about three years behind Auckland and regional house prices should have been starting to flatten off about now. The fact that they haven’t is almost certainly a consequence of the

cheap money currently available to those buying property. There’s a question over how long this can last — but for now, it’s increasing the wealth of those in the regions.

3. First-home buyers. Although first home buyers should always be the No. 1 focus of government housing policy, recent events have brought about a renewed focus on their needs and will almost certainly lead to a suite of government initiatives, to assist them, later this year. While the major obstacle to buying a first home is actually the ill-considered LVR restrictions (which are about to be reimposed) and not the market itself — any moves to support them will be welcome.

I haven’t listed any “losers” from Covid because I don’t believe that there any victims when house prices increase if the market is left to its own devices. Indeed, higher house prices have made us wealthier as a nation and are the single biggest reason that New Zealand is now the fifth wealthiest nation in the world.

- Ashley Church is a property commentator for OneRoof.co.nz.

Email him at ashley@nzemail.com

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T H E G O L D S TA N DA R D I N R E A L E S TAT E

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MANIC PROPERTY MARKET EASES BUT REMAINS STRONG.

BY FRASER

HOLLAND

MANAGING DIRECTOR M: +64 27 440 9514 | fraser.holland@hbnzsir.com

Believe it or not, we are already into the third month of 2021. It Is timely to reflect on the early signals in the 2021 property market and what may be in store for us for the rest of the year. Following on from an unprecedented, well documented period of growth in the later period of 2020, whether you are a buyer, seller, or potential investor, you want to know – will property prices continue to increase, and if so at the same pace, and for how long?

The last quarter of 2020 was manic, a word I do not use lightly. Certainly, for purchasers, for staff and many of our industries top real estate professionals, the period was frenzied and relentless. With a buyer pool being very active, multiple offers on single properties were the norm. What wasn’t the norm was the pace that multiple offers developed and the share quantity of purchasers involved in the same multiple offer process on a single property. It was not uncommon for circa 100 parties through a property, numerous building reports, ten plus offers to be drawn up, with only one eventual purchaser. It was no surprise to me that January was less active – I believe purchasers who had missed out on several properties, and indeed agents were exhausted and wanted a break. REINZ sales numbers across the country generally supported this notion, with volumes down and median sales values flattening.

Most would agree that recent months’ activity, an 11.7% increase in housing prices in the last four months (annualised this equates to 35%), is unsustainable. That said, February activity is again significant. Buyers on our databases are growing; off-market viewings hit double figures before a property comes to websites and other on-market advertising mediums. Listings are currently at very low levels, which is the only reason volumes of sales are being held back.

This can be put down to a few factors – people want to ensure they have secured a new property before they sell; long term property investors either hold out for top dollar, have confidence in continued growth, but also alternative investment options are limited.

With the cost of borrowing so low, relative to the last twenty years and rents increasing, the cost of holding property is negligible.

Have you tried getting a tradesperson for minor jobs around your home lately? During these Covid times, we have seen massive investment into properties through renovation, landscaping and upgrade of fixtures and furnishings.

Funds that may have previously been directed to holidays have been diverted. Perhaps as the vaccines are rolled out, and a lessening of travel restrictions is closer, these funds may once again be redirected to a nice break away. Economists tell us $8 billion per annum was exported in the kiwi tourist dollar preCovid. The opening of borders will take some heat out of the demand side of the equation, hopefully leaving properties for purchasers other than investors. That said, regional New Zealand will commonly see the Auckland and Wellington purchaser seeking property in their neighbourhood. Relative to the main cities, Napier, Hastings, Taupo, Gisborne, Greytown, Waipawa and like cities and towns offer value to purchasers, plus lifestyle living where working from home, the use of technology, Zoom meetings and the like, plus flexible employers allow it to happen.

SOLD | Corwen Place, Hastings Sale Price $1,450,000

The rapid growth rate of house prices will slow, but all economic indicators, backed by the government’s predictions, point to a continued increase in property prices years ahead.

Interest rates will remain low, and related term deposit rates also negligible; property is still an attractive investment for those able to afford it. The New Zealand dollar is expected to remain at above-average levels. The New Zealand economy did not drop to the same level as other countries and bounced back quicker than many.

SOLD | 28 Coleman Terrace, Napier

So, is it a good time to sell? Each scenario is different, and you need to be informed to make that decision, but you are indeed in a great position to consider change. We talk often in our teams that in this buoyant market, just about anyone could sell your home. As professionals in the property industry, we must provide a significant point of difference, and we must add significant value to the sales process. If you are considering selling, you do not want ‘anyone’!

You will see our marketing campaign with the headlines ‘achieve more’, ‘connect more’ and ‘experience more’ within this publication – they talk of the reasons to consider New Zealand Sotheby’s International Realty over our competitors.

SOLD | Palmer Mill Road, Taupo

I am proud of a team that will provide you with professional advice and service to achieve exceptional results in a manner and timeframe that works for you. For your benefit, put one of the team to the test, contact one for an appraisal of your home.

Sale Price $1,187,000

Sale Price $1,330,000

SOLD | Kahutara Road, South Wairarapa Sale Price $1,150,000

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HOUSE PRI CE INDEX

How hot is your suburb?

The OneRoof Property Report suburb valuation tables, powered by OneRoof’s data partner Valocity, show the latest median property values for every suburb* in New Zealand.

The tables are arranged by region, starting at the top of the North Island and finishing at the bottom of the South Island (with the territorial authorities and suburbs within each region shown in alphabetical order).

What do the tables show?

The tables below show for each suburb, territorial authority and region: ● The median property value at February 15, 2021; ● The 12-month change in percent; ● The 12-month change in dollars; ● The highest settled sale price in the year to February 15, 2021; and ● The percentage change on the OneRoof-Valocity House Price Index

What do the numbers mean?

The median property value is the middle point for property values.

Median means “in the middle”, so if for example there are five houses in a suburb and they are valued at $175,000, $200,000, $250,000, $350,000, and $600,000, the median

SUBURB

value would be the one in the middle, or $250,000.The median is a good indicator of typical property values within an area because it is not affected by outliers.

The 12-month change indicates how well property values are tracking in the given area. If the percentage change is upwards, then it means the market in the area may be hot and that homes there are selling quickly and for more money.

If the percentage change is downwards, then it is a sign that the market in the area is soft or cold, and that properties are selling slowly and for less.

The change in dollars shows how much value gain or loss homeowners in any given area has seen in the last 12 months, while the highest settled sale price indicates how well the top end of the market is doing in each area.

The OneRoof-Valocity House Price Index number shows the change in the housing market in the months since Covid-19 struck New Zealand, and is an accurate measure of recent property boom.

Together these figures give a good overview of what’s happening in the housing market in each region,TA and suburb, and what buyers can expect to

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

pay and sellers can expect to make.

How are the suburb values calculated?

For latest median property value, the tables use an automated valuation model (AVM).The AVM takes into account recorded property attributes and historical property sales data to estimate the value of every residential property value in a suburb.The model is intended to provide an estimate of value at the date it was run.You can find out the value of your own property - and those of your neighbours - at OneRoof.co.nz/estimate.

An interactive carrying more house price data for every suburb in New Zealand can be found at OneRoof.co.nz/ property-report.Alternatively, you can go straight to the interactive using the QR code on the right.

Hold your phone camera over the code and click on the link. *Only suburbs with 10 sales or more in the 12 months to February 15 have been included in the print tables below.The latest property values for all 2606 New Zealand suburbs can be found in the interactive at OneRoof. co.nz/property-report.

If you have a question about the data, please contact support@ oneroof.co.nz

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

NORTH ISLAND NORTHLAND

$650,000

21%

$115,000

$7,000,000

14.3%

FAR NORTH

$580,000

26%

$120,000

$7,000,000

15.3%

TAIPA OPONONI HIHI OKAIHAU COOPERS BEACH MANGONUI KAEO KAWAKAWA OPUA AHIPARA HARURU CABLE BAY RUSSELL KARIKARI PENINSULA WAIPAPA PAIHIA KAIKOHE KAITAIA KERIKERI

$537,500 $445,000 $525,000 $670,000 $640,000 $570,000 $440,000 $360,000 $772,500 $495,000 $675,000 $615,000 $905,000 $575,000 $905,000 $577,500 $310,000 $335,000 $830,000

28% 44% -9% 44% 16% 10% 9% 24% 64% 27% 21% 17% 12% 25% 16% 10% 59% 31% 18%

$117,500 $135,000 -$50,000 $205,000 $90,000 $50,000 $35,000 $70,000 $302,500 $105,000 $115,000 $90,000 $95,000 $115,000 $125,000 $52,500 $115,000 $80,000 $125,000

$690,000 $790,000 $850,000 $1,075,000 $1,650,000 $1,250,000 $1,650,000 $940,000 $782,000 $1,200,000 $1,620,000 $1,150,000 $3,300,000 $1,050,000 $1,355,000 $1,000,000 $703,500 $700,000 $2,375,000

15.3% 15.3% 15.3% 15.3% 15.3% 15.3% 15.3% 15.3% 15.3% 15.3% 15.3% -1.9% 15.3% 10.6% 15.3% 2.1% 15.9% 13.1% 10.8%

KAIPARA

$675,000

13%

$75,000

$4,000,000

11.2%

TINOPAI PAPAROA TE KOPURU RUAWAI KAIWAKA MAUNGATUROTO MANGAWHAI DARGAVILLE MANGAWHAI HEADS

$445,000 $615,000 $385,000 $345,000 $680,000 $565,000 $950,000 $405,000 $975,000

7% 14% 45% 38% 5% 31% 18% 23% 22%

$30,000 $75,000 $120,000 $95,000 $30,000 $135,000 $145,000 $75,000 $175,000

$610,000 $897,500 $640,000 $519,600 $1,085,900 $1,094,000 $4,000,000 $950,000 $3,100,000

11.2% 11.2% 11.2% 11.2% 11.2% 11.2% 11.3% 12.3% 14.9%

WHANGAREI

$675,000

23%

$125,000

$5,650,000

10.0%

POROTI WHAKAPARA NGARARATUNUA GLENBERVIE LANGS BEACH RIVERSIDE TAMATERAU KAURI OTANGAREI NGUNGURU TUTUKAKA WHANGAREI HEADS WOODHILL PARAHAKI MAUNGATAPERE HIKURANGI PARUA BAY RUATANGATA WEST HORAHORA REGENT MORNINGSIDE WHAU VALLEY AVENUES RUAKAKA ONE TREE POINT WAIPU RAUMANGA MAUNU KENSINGTON ONERAHI TIKIPUNGA KAMO

$845,000 $665,000 $962,500 $980,000 $1,692,500 $717,500 $965,000 $990,000 $335,000 $925,000 $980,000 $920,000 $575,000 $660,000 $910,000 $472,500 $935,000 $842,500 $600,000 $670,000 $520,000 $630,000 $545,000 $750,000 $870,000 $925,000 $435,000 $857,500 $595,000 $590,000 $530,000 $665,000

9% 16% 33% 18% 12% 26% 19% 37% 38% 18% 17% 23% 31% 18% 9% 21% 20% 23% 26% 30% 22% 27% 33% 21% 22% 19% 19% 22% 31% 24% 22% 23%

$70,000 $90,000 $240,000 $150,000 $187,500 $147,500 $155,000 $265,000 $92,500 $140,000 $140,000 $175,000 $135,000 $100,000 $75,000 $82,500 $155,000 $160,000 $122,500 $155,000 $95,000 $135,000 $135,000 $130,000 $155,000 $145,000 $70,000 $152,500 $140,000 $115,000 $95,000 $125,000

$1,630,000 $870,000 $1,515,000 $1,215,000 $5,100,000 $1,250,000 $1,400,000 $1,125,000 $453,000 $1,065,000 $2,080,000 $1,320,000 $825,000 $1,145,000 $1,450,000 $910,000 $2,125,000 $1,200,000 $860,000 $1,220,000 $595,000 $987,500 $830,000 $1,340,000 $5,650,000 $1,900,000 $650,000 $1,575,000 $1,325,000 $990,000 $850,000 $1,847,391

10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 2.6% 10.0% 10.0% 10.0% 14.7% 17.7% 16.6% 1.7% 7.9% 15.5% 4.1% 14.7% 10.0% 12.7% 13.3%

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OneRoof.co.nz

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

AUCKLAND

$1,100,000

23%

$205,000

$11,500,000

14.8%

AUCKLAND CITY

$1,250,000

26%

$255,000

$11,500,000

15.6%

AUCKLAND CENTRAL AVONDALE BLOCKHOUSE BAY EDEN TERRACE ELLERSLIE EPSOM FREEMANS BAY GLEN INNES GLENDOWIE GRAFTON GREAT BARRIER ISLAND (AOTEA ISD) GREENLANE GREY LYNN HERNE BAY HILLSBOROUGH KINGSLAND KOHIMARAMA LYNFIELD MEADOWBANK MISSION BAY MORNINGSIDE MOUNT ALBERT MOUNT EDEN MOUNT ROSKILL MOUNTWELLINGTON NEW WINDSOR NEWMARKET ONE TREE HILL ONEHUNGA ORAKEI OTAHUHU PANMURE PARNELL PENROSE POINT CHEVALIER POINT ENGLAND PONSONBY RAKINO ISLAND REMUERA ROYAL OAK SAINT JOHNS SAINT MARYS BAY SANDRINGHAM ST HELIERS STONEFIELDS THREE KINGS WAI O TAIKI BAY WATERVIEW WESLEY WESTMERE

$495,000 $1,025,000 $1,225,000 $725,000 $1,295,000 $2,050,000 $1,412,500 $1,155,000 $2,022,500 $535,000 $690,000 $1,695,000 $1,825,000 $3,005,000 $1,325,000 $1,565,000 $1,880,000 $1,310,000 $1,627,500 $1,825,000 $1,465,000 $1,295,000 $1,860,000 $1,190,000 $975,000 $1,335,000 $797,500 $1,335,000 $1,160,000 $1,985,000 $800,000 $1,020,000 $1,635,000 $1,182,500 $1,875,000 $1,160,000 $2,180,000 $360,000 $2,075,000 $1,412,500 $1,505,000 $2,710,000 $1,475,000 $1,865,000 $1,480,000 $1,230,000 $1,490,000 $1,085,000 $900,000 $2,230,000

9% 24% 32% 16% 31% 20% 21% 22% 30% 10% 62% 25% 25% 18% 23% 22% 24% 34% 22% 22% 31% 20% 29% 26% 23% 40% 18% 28% 27% 26% 26% 26% 23% 27% 29% 23% 25% 0% 18% 26% 30% 21% 28% 24% 10% 25% 18% 29% -1% 25%

$40,000 $200,000 $300,000 $100,000 $310,000 $340,000 $247,500 $210,000 $467,500 $50,000 $265,000 $335,000 $370,000 $455,000 $250,000 $280,000 $365,000 $330,000 $292,500 $325,000 $345,000 $220,000 $415,000 $245,000 $180,000 $380,000 $122,500 $295,000 $250,000 $405,000 $165,000 $210,000 $310,000 $252,500 $425,000 $215,000 $440,000 $360,000 $320,000 $292,500 $345,000 $470,000 $320,000 $355,000 $140,000 $245,000 $230,000 $245,000 -$10,000 $445,000

$2,450,000 $1,650,000 $2,650,000 $2,187,500 $2,700,000 $8,500,000 $6,000,000 $1,800,000 $9,000,000 $3,400,000 $985,000 $3,520,000 $4,875,000 $6,900,000 $2,056,000 $2,325,000 $4,800,000 $2,010,000 $3,305,000 $5,390,000 $3,050,000 $3,200,000 $5,600,000 $2,100,000 $3,050,000 $1,690,000 $2,250,000 $2,720,000 $2,720,000 $10,800,000 $1,405,000 $1,811,000 $9,750,000 $1,329,000 $4,600,000 $3,050,000 $5,100,000 $300,000 $11,500,000 $2,745,000 $3,750,000 $6,358,000 $2,750,000 $5,350,000 $1,910,000 $2,610,000 $3,850,000 $2,105,000 $1,451,500 $7,100,000

-0.7% 11.3% 11.1% -1.2% 11.8% 9.5% 11.8% 15.6% 11.5% -0.9% 15.6% 7.0% 25.6% 12.1% 4.9% 26.5% 10.7% 15.6% 17.2% 12.9% 6.7% 12.4% 12.7% 14.8% 13.2% 11.3% 15.6% 11.8% 14.6% 11.7% 14.6% 26.0% 10.7% 15.6% 6.0% 15.6% 22.4% 15.6% 18.5% 4.3% 14.4% 15.6% 11.4% 14.3% 11.1% 5.2% 15.6% 9.4% 15.6% 20.6%

FRANKLIN

$810,000

15%

$105,000

$3,850,000

11.6%

ARARIMU AWHITU BOMBAY CLARKS BEACH GLENBROOK HUNUA KARIOITAHI KINGSEAT MANUKAU HEADS MAUKU PAERATA PATUMAHOE POLLOK PUKEKOHE RAMARAMA RUNCIMAN WAIAU PA WAIUKU

$1,545,000 $615,000 $1,240,000 $925,000 $940,000 $1,222,500 $1,017,500 $1,427,500 $775,000 $1,180,000 $940,000 $1,000,000 $840,000 $770,000 $1,572,500 $1,590,000 $1,505,000 $720,000

27% 5% 18% 19% 9% 17% 9% 15% 6% 10% 4% 14% 5% 16% 18% 23% 13% 13%

$330,000 $30,000 $185,000 $147,500 $80,000 $177,500 $82,500 $187,500 $45,000 $110,000 $32,500 $120,000 $37,500 $105,000 $242,500 $300,000 $175,000 $80,000

$3,400,000 $1,200,000 $2,150,000 $2,650,000 $2,420,000 $1,800,000 $1,140,000 $3,100,000 $1,280,000 $1,800,000 $1,480,000 $1,800,000 $1,600,000 $2,300,000 $3,000,000 $2,380,000 $3,850,000 $1,535,000

11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 12.3% 11.6% 11.6% 11.6% 14.7%

MANUKAU

$1,035,000

25%

$205,000

$5,800,000

14.4%

ALFRISTON BEACHLANDS BOTANY DOWNS BROOKBY BUCKLANDS BEACH BURSWOOD CLENDON PARK CLEVEDON CLOVER PARK COCKLE BAY DANNEMORA

$2,097,500 $1,345,000 $1,305,000 $1,817,500 $1,545,000 $1,195,000 $685,000 $1,700,000 $855,000 $1,525,000 $1,645,000

30% 17% 32% 71% 27% 27% 27% 26% 33% 27% 19%

$485,000 $195,000 $315,000 $757,500 $330,000 $255,000 $145,000 $355,000 $210,000 $320,000 $260,000

$3,110,000 $4,885,000 $2,235,000 $2,195,000 $3,200,000 $1,321,000 $1,050,000 $2,700,000 $1,200,000 $3,400,000 $3,180,000

14.4% 13.2% 23.7% 14.4% 13.4% 14.4% 11.0% 14.4% 15.0% 11.9% 14.4%

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

EAST TAMAKI EAST TAMAKI HEIGHTS EASTERN BEACH FARM COVE FAVONA FLAT BUSH GOLFLANDS GOODWOOD HEIGHTS HALF MOON BAY HIGHLAND PARK HOWICK HUNTINGTON PARK KAWAKAWA BAY MANGERE MANGERE BRIDGE MANGERE EAST MANUKAU MANUREWA MANUREWA EAST MARAETAI MELLONS BAY NESS VALLEY NORTHPARK ORERE POINT OTARA PAKURANGA PAKURANGA HEIGHTS PAPATOETOE RANDWICK PARK SHAMROCK PARK SHELLY PARK SOMERVILLE SUNNYHILLS THE GARDENS TOTARA HEIGHTS TOTARA PARK WATTLE DOWNS WEYMOUTH WHITFORD WIRI

$1,175,000 $1,490,000 $1,855,000 $1,625,000 $880,000 $1,280,000 $1,395,000 $1,055,000 $1,480,000 $1,177,500 $1,245,000 $1,357,500 $920,000 $870,000 $1,160,000 $880,000 $645,000 $820,000 $835,000 $1,405,000 $1,900,000 $1,460,000 $1,480,000 $530,000 $775,000 $1,185,000 $1,270,000 $850,000 $755,000 $2,542,500 $1,485,000 $1,555,000 $1,510,000 $1,210,000 $1,015,000 $1,860,000 $1,065,000 $780,000 $2,670,000 $690,000

20% 18% 30% 27% 29% 17% 29% 26% 30% 30% 31% 26% 13% 29% 23% 36% 26% 30% 36% 16% 28% 33% 24% 12% 36% 30% 39% 21% 25% 42% 27% 24% 28% 20% 25% 21% 28% 22% 21% 23%

$195,000 $225,000 $430,000 $350,000 $200,000 $185,000 $310,000 $215,000 $340,000 $272,500 $295,000 $282,500 $105,000 $195,000 $215,000 $235,000 $135,000 $190,000 $220,000 $190,000 $415,000 $362,500 $285,000 $57,500 $205,000 $270,000 $355,000 $145,000 $150,000 $747,500 $315,000 $302,500 $330,000 $205,000 $200,000 $320,000 $230,000 $140,000 $460,000 $130,000

$1,405,000 $2,505,000 $3,050,000 $3,530,000 $1,005,000 $2,880,000 $1,757,000 $1,364,000 $3,700,000 $1,710,000 $2,395,000 $1,205,000 $1,560,000 $1,200,000 $2,650,000 $1,457,000 $1,310,000 $2,610,000 $930,000 $1,850,000 $3,350,000 $1,350,000 $1,750,000 $1,000,000 $930,000 $2,088,000 $1,451,000 $3,385,000 $915,000 $2,400,000 $2,760,000 $1,761,000 $5,800,000 $2,200,000 $1,520,000 $3,025,000 $1,210,000 $1,800,000 $5,800,000 $775,000

10.7% 3.7% 14.4% 14.4% 10.7% 6.0% 14.4% 19.6% 17.2% 9.2% 13.5% 14.4% 14.4% 15.4% 9.3% 23.0% 14.4% 20.3% 17.5% 14.4% 7.1% 14.4% 11.9% 14.4% 22.7% 16.0% 16.2% 13.1% 10.0% 14.4% -2.7% 13.4% 14.4% 2.0% 14.4% 14.4% 15.7% 15.2% 14.4% 14.4%

NORTH SHORE

$1,310,000

24%

$255,000

$7,900,000

13.1%

ALBANY ALBANY HEIGHTS BAYSWATER BAYVIEW BEACH HAVEN BELMONT BIRKDALE BIRKENHEAD BROWNS BAY CAMPBELLS BAY CASTOR BAY CHATSWOOD DEVONPORT FAIRVIEW HEIGHTS FORREST HILL GLENFIELD GREENHITHE HAURAKI HILLCREST LONG BAY LUCAS HEIGHTS MAIRANGI BAY MILFORD MURRAYS BAY NARROW NECK NORTHCOTE NORTHCOTE POINT NORTHCROSS OKURA OTEHA PAREMOREMO PINEHILL ROSEDALE ROTHESAY BAY SCHNAPPER ROCK STANLEY POINT SUNNYNOOK TAKAPUNA TORBAY TOTARA VALE UNSWORTH HEIGHTS WAIAKE WAIRAU VALLEY WINDSOR PARK

$1,155,000 $1,175,000 $1,475,000 $1,005,000 $1,035,000 $1,365,000 $990,000 $1,205,000 $1,305,000 $2,070,000 $1,815,000 $1,410,000 $1,925,000 $1,585,000 $1,445,000 $1,060,000 $1,605,000 $1,645,000 $1,285,000 $1,620,000 $1,580,000 $1,810,000 $1,490,000 $1,715,000 $1,757,500 $1,255,000 $1,575,000 $1,205,000 $1,455,000 $1,105,000 $1,450,000 $1,690,000 $1,105,000 $1,555,000 $1,640,000 $2,087,500 $1,235,000 $1,555,000 $1,205,000 $1,085,000 $1,145,000 $1,490,000 $967,500 $1,355,000

18% 15% 26% 25% 25% 26% 25% 24% 27% 21% 23% 19% 23% 19% 21% 25% 23% 22% 25% 13% 17% 24% 22% 29% 22% 22% 22% 26% 27% 17% 27% 21% 25% 23% 19% 25% 23% 21% 22% 25% 22% 25% 26% 23%

$175,000 $150,000 $305,000 $200,000 $205,000 $285,000 $195,000 $230,000 $280,000 $360,000 $335,000 $225,000 $362,500 $255,000 $255,000 $210,000 $305,000 $295,000 $260,000 $180,000 $235,000 $350,000 $270,000 $385,000 $322,500 $230,000 $285,000 $245,000 $307,500 $162,500 $307,500 $295,000 $217,500 $295,000 $257,500 $422,500 $230,000 $270,000 $215,000 $215,000 $205,000 $295,000 $202,500 $255,000

$2,205,000 $2,100,000 $3,660,000 $1,560,000 $1,628,000 $3,250,000 $1,733,000 $2,650,000 $2,350,000 $5,000,000 $3,700,000 $2,210,000 $4,190,000 $3,800,000 $2,546,000 $1,655,000 $5,650,000 $4,800,000 $1,980,000 $2,700,000 $2,253,000 $2,875,000 $6,550,000 $2,430,000 $4,700,000 $4,050,000 $2,835,000 $1,566,000 $4,500,000 $2,230,000 $2,750,000 $2,400,000 $1,750,000 $2,850,000 $2,915,000 $4,055,500 $2,330,000 $7,900,000 $3,550,000 $1,500,000 $1,695,000 $2,000,000 NA $1,900,000

9.0% -1.6% 13.1% 7.0% 14.0% 9.5% 15.7% 6.5% 11.2% 4.5% 4.0% 13.1% 18.6% 13.1% 14.1% 15.3% 0.2% 7.3% 12.0% 0.9% 13.1% 11.1% 16.2% 8.1% 18.9% 15.1% 16.5% 12.3% 13.1% 10.0% 13.1% 5.0% 13.1% 26.8% 4.7% 13.1% 24.2% 5.7% 9.8% 10.9% 12.1% 13.1% 13.1% 13.1%

OneRoof.co.nz

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

PAPAKURA

$870,000

25%

$175,000

$3,650,000

20.7%

WAITAKERE

$995,000

25%

$200,000

$3,200,000

15.3%

ARDMORE CONIFER GROVE DRURY KARAKA OPAHEKE PAHUREHURE PAPAKURA RED HILL ROSEHILL TAKANINI

$2,070,000 $1,005,000 $972,500 $1,345,000 $960,000 $990,000 $765,000 $790,000 $820,000 $880,000

162% 23% 29% 13% 29% 31% 25% 34% 31% 18%

$1,280,000 $190,000 $217,500 $155,000 $215,000 $235,000 $155,000 $200,000 $195,000 $135,000

$3,000,000 $1,540,000 $1,707,000 $3,650,000 $1,485,000 $2,850,000 $1,376,000 $1,700,000 $2,800,000 $2,100,000

20.7% 18.0% 20.7% 9.6% 22.0% 23.3% 24.0% 11.9% 16.2% 13.8%

RODNEY

$1,105,000

19%

$175,000

$7,350,000

12.8%

ALGIES BAY ARKLES BAY ARMY BAY BIG OMAHA COATESVILLE DAIRY FLAT DOME FOREST DOME VALLEY GLORIT GULF HARBOUR HATFIELDS BEACH HELENSVILLE HUAPAI KAIPARA FLATS KAUKAPAKAPA KAWAU ISLAND KUMEU LEIGH MAHURANGI EAST MAHURANGI WEST MAKARAU MANGAKURA MANLY MATAKANA MATAKATIA MURIWAI OMAHA OREWA PAKIRI PARAKAI POHUEHUE POINT WELLS PORT ALBERT PUHOI RED BEACH REDVALE RIVERHEAD SANDSPIT SHELLY BEACH SILVERDALE SNELLS BEACH SOUTH HEAD STANMORE BAY STILLWATER TAHEKEROA TAPORA TAUHOA TAUPAKI TAWHARANUI PENINSULA TE ARAI TE HANA TI POINT TINDALLS BEACH TOMARATA WADE HEADS WAIMAUKU WAINUI WAITOKI WAIWERA WARKWORTH WELLSFORD WHANGARIPO WHANGATEAU WHAREHINE

$1,095,000 $1,025,000 $1,010,000 $2,060,000 $2,475,000 $2,105,000 $1,220,000 $1,292,500 $965,000 $920,000 $960,000 $920,000 $1,110,000 $1,252,500 $1,200,000 $590,000 $1,210,000 $975,000 $1,340,000 $1,435,000 $1,070,000 $657,500 $985,000 $1,390,000 $1,387,500 $1,235,000 $1,810,000 $1,085,000 $1,002,500 $755,000 $1,322,500 $1,520,000 $857,500 $1,320,000 $1,105,000 $1,780,000 $1,370,000 $1,250,000 $715,000 $1,330,000 $915,000 $1,055,000 $885,000 $1,100,000 $950,000 $642,500 $847,500 $2,145,000 $1,585,000 $1,090,000 $750,000 $1,017,500 $1,335,000 $965,000 $997,500 $1,395,000 $1,515,000 $1,777,500 $995,000 $945,000 $680,000 $1,117,500 $1,140,000 $745,000

20% 18% 18% 15% -2% 12% 21% 29% 15% 16% 22% 14% 20% 18% 13% 0% 15% 17% -1% -1% 14% 4% 21% 15% 23% 15% 13% 23% 5% 30% 26% 13% 33% 22% 21% 16% 19% 32% -46% 24% 20% 10% 19% 42% 12% -3% 23% 40% 27% 10% 11% 12% 20% 2% 19% 21% -0% 16% -16% 14% 16% 41% 13% 28%

$180,000 $155,000 $155,000 $270,000 -$50,000 $230,000 $215,000 $290,000 $125,000 $125,000 $172,500 $110,000 $185,000 $187,500 $140,000 $590,000 $155,000 $145,000 -$20,000 -$15,000 $135,000 $22,500 $170,000 $177,500 $262,500 $165,000 $210,000 $200,000 $45,000 $175,000 $270,000 $175,000 $215,000 $240,000 $190,000 $245,000 $215,000 $305,000 -$615,000 $255,000 $150,000 $100,000 $140,000 $327,500 $100,000 -$17,500 $160,000 $615,000 $340,000 $100,000 $72,500 $107,500 $220,000 $20,000 $162,500 $240,000 -$5,000 $240,000 -$195,000 $115,000 $95,000 $327,500 $135,000 $165,000

$2,350,000 $950,000 $2,222,000 $1,257,500 $6,900,000 $3,050,000 $3,600,000 NA $1,340,000 $3,100,000 $1,230,000 $2,315,000 $1,620,000 $1,500,000 $1,875,000 $1,400,000 $2,800,000 $6,200,000 $2,100,000 $1,100,000 $1,395,000 NA $5,100,000 $3,850,000 $1,700,000 $2,250,000 $7,350,000 $3,250,000 NA $879,000 $6,980,000 $2,300,000 $690,000 $2,800,000 $3,770,000 $2,508,000 $5,000,000 $2,735,000 $1,250,000 $1,820,000 $1,930,000 $2,250,000 $1,945,000 $3,800,000 $1,290,000 $590,000 $487,000 $1,950,000 $5,500,000 $1,370,000 $372,000 $860,000 $3,350,000 $1,100,000 $2,023,683 $4,125,000 $2,825,000 $2,800,000 $640,000 $6,100,000 $1,310,000 $1,600,000 $2,200,000 $480,000

12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 7.3% -1.7% 8.6% 12.8% 12.8% 12.8% 12.8% 9.8% 12.8% 12.8% 12.8% 12.8% 12.8% 15.4% 12.8% 12.8% 12.8% 12.8% 18.6% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 7.4% 12.8% 12.8% 12.8% 12.8% 8.7% 13.3% 12.8% 7.2% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 7.3% 12.8% 12.8% 12.8% 12.8%

ANAWHATA BETHELLS BEACH CORNWALLIS GLEN EDEN GLENDENE GREEN BAY HENDERSON HENDERSON VALLEY HERALD ISLAND HOBSONVILLE HUIA KAREKARE KELSTON LAINGHOLM MASSEY NEW LYNN ORATIA PARAU PIHA RANUI SUNNYVALE SWANSON TE ATATU PENINSULA TE ATATU SOUTH TITIRANGI WAIATARUA WAITAKERE WEST HARBOUR WESTGATE WHENUAPAI

$500,000 $987,500 $1,150,000 $895,000 $960,000 $1,165,000 $975,000 $1,092,500 $1,460,000 $1,035,000 $892,500 $910,000 $922,500 $1,012,500 $920,000 $910,000 $1,185,000 $1,022,500 $1,155,000 $830,000 $885,000 $1,005,000 $1,230,000 $1,040,000 $1,160,000 $1,060,000 $1,200,000 $1,205,000 $980,000 $1,195,000

0% 27% 26% 22% 26% 34% 26% 27% 35% 13% 25% 39% 25% 23% 24% 22% 36% 24% 25% 21% 24% 19% 32% 29% 30% 28% 25% 23% 17% 20%

$500,000 $210,000 $237,500 $160,000 $200,000 $295,000 $200,000 $235,000 $375,000 $115,000 $177,500 $255,000 $182,500 $187,500 $180,000 $165,000 $312,500 $200,000 $230,000 $145,000 $170,000 $160,000 $295,000 $235,000 $270,000 $230,000 $240,000 $225,000 $142,500 $197,500

NA $758,000 $2,100,000 $1,465,000 $1,200,000 $1,835,000 $2,260,000 $1,500,000 $2,425,000 $2,015,000 $1,385,000 $1,600,000 $1,210,000 $1,299,000 $3,200,000 $1,800,000 $2,125,000 $812,000 $3,000,050 $2,100,000 $1,230,000 $1,995,000 $2,290,000 $1,600,000 $2,200,000 $1,780,000 $1,400,000 $2,015,000 $1,230,000 $1,523,000

15.3% 15.3% 15.3% 12.2% 15.9% 15.3% 15.1% 15.3% 15.3% 5.3% 15.3% 15.3% 15.3% 15.3% 19.6% 14.4% 15.3% 15.3% 15.3% 10.5% 13.4% 7.5% 16.8% 16.7% 18.8% 15.3% 15.3% 13.6% 5.9% 22.6%

WAIKATO

$710,000

22%

$130,000

$4,550,000

13.9%

HAMILTON

$735,000

27%

$155,000

$2,700,000

14.7%

HARROWFIELD BAVERSTOCK TEMPLE VIEW WESTERN HEIGHTS DEANWELL CHEDWORTH RIVERLEA HAMILTON LAKE SILVERDALE QUEENWOOD WHITIORA BADER FITZROY GRANDVIEW HEIGHTS FAIRVIEW DOWNS BEERESCOURT FOREST LAKE HAMILTON CENTRAL PUKETE MAEROA CLAUDELANDS ENDERLEY ROTOTUNA HILLCREST SAINT ANDREWS ROTOTUNA NORTH MELVILLE FAIRFIELD HUNTINGTON GLENVIEW FRANKTON DINSDALE NAWTON CHARTWELL HAMILTON EAST FLAGSTAFF

$980,000 $895,000 $785,000 $937,500 $610,000 $875,000 $865,000 $805,000 $700,000 $875,000 $565,000 $557,500 $755,000 $850,000 $720,000 $835,000 $700,000 $670,000 $765,000 $670,000 $715,000 $545,000 $955,000 $770,000 $735,000 $975,000 $630,000 $655,000 $985,000 $715,000 $555,000 $695,000 $600,000 $755,000 $675,000 $1,010,000

19% 20% 17% 25% 23% 28% 26% 21% 26% 22% 19% 31% 30% 23% 30% 28% 26% 18% 29% 29% 28% 28% 24% 28% 27% 22% 29% 30% 22% 28% 24% 29% 28% 28% 24% 22%

$155,000 $150,000 $115,000 $185,000 $115,000 $192,500 $180,000 $140,000 $145,000 $160,000 $90,000 $132,500 $175,000 $160,000 $165,000 $185,000 $145,000 $102,500 $170,000 $150,000 $155,000 $120,000 $185,000 $170,000 $155,000 $175,000 $140,000 $150,000 $180,000 $155,000 $107,500 $155,000 $130,000 $165,000 $130,000 $180,000

$1,360,000 $920,000 $1,430,000 $895,000 $673,500 $891,000 $1,220,000 $1,600,000 $902,000 $1,962,500 $1,070,000 $650,000 $870,000 $945,000 $805,000 $1,700,000 $960,000 $1,330,000 $1,410,000 $1,057,500 $1,560,000 $906,000 $1,190,000 $1,131,000 $1,620,000 $2,700,000 $920,000 $1,550,000 $1,370,000 $1,468,000 $1,710,000 $865,000 $850,000 $1,520,000 $1,145,000 $2,363,000

14.7% 14.7% 14.7% 14.7% 14.7% 14.7% 9.2% 14.7% 14.7% 14.7% 9.5% 14.7% 14.7% 10.9% 19.6% 14.7% 12.2% 14.7% 15.6% 2.1% 4.1% 15.7% 10.2% 16.0% 12.4% 12.8% 14.4% 11.5% 11.8% 7.9% 11.2% 10.1% 10.9% 15.0% 9.7% 9.1%

HAURAKI

$555,000

22%

$100,000

$1,880,000

10.2%

WHIRITOA NGATEA PAEROA WAIHI

$682,500 $590,000 $460,000 $560,000

14% 24% 16% 27%

$82,500 $115,000 $65,000 $120,000

$1,545,000 $1,150,000 $1,225,000 $1,880,000

0.0% 0.7% 8.1% 15.5%

MATAMATA-PIAKO

$605,000

17%

$90,000

$2,040,000

10.2%

TE AROHA MORRINSVILLE MATAMATA

$525,000 $620,000 $610,000

17% 16% 17%

$75,000 $85,000 $90,000

$1,200,000 $2,040,000 $1,855,000

10.5% 12.0% 8.4%

OTOROHANGA

$485,000

21%

$85,000

$1,150,000

13.9%

KAWHIA PUKETOTARA OTOROHANGA

$440,000 $810,000 $470,000

0% 11% 27%

$$80,000 $100,000

$846,000 $1,150,000 $1,050,000

13.9% 13.9% 13.9%

WAIHEKE ISLAND OMIHA ONEROA ONETANGI OSTEND PALM BEACH SURFDALE WAIHEKE ISLAND

$887,500 $1,400,000 $1,160,000 $980,000 $1,470,000 $1,045,000 $1,852,500

15% 20% 18% 16% 20% 14% 72%

$115,000 $230,000 $175,000 $137,500 $250,000 $130,000 $775,000

$3,100,000 $7,850,000 $2,605,000 $3,530,000 $3,350,000 $3,750,000 $8,100,000

15.6% 5.9% 15.6% 15.6% 15.6% 19.8% 15.6%

15

16

OneRoof.co.nz

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

SOUTH WAIKATO

$365,000

24%

$70,000

$1,087,500

5.6%

ARAPUNI TIRAU PUTARURU TOKOROA

$490,000 $505,000 $445,000 $335,000

21% 17% 29% 31%

$85,000 $75,000 $100,000 $80,000

$960,000 $955,000 $750,000 $900,000

5.6% 5.6% 14.1% 5.3%

TAUPO

$640,000

23%

$120,000

$3,840,000

11.6%

RAINBOW POINT OMORI ORUANUI WAIRAKEI MOTUOAPA TWO MILE BAY KURATAU WHAREWAKA RANGATIRA PARK WAIPAHIHI TAUHARA MANGAKINO ACACIA BAY RICHMOND HEIGHTS HILLTOP KINLOCH NUKUHAU TURANGI TAUPO

$1,015,000 $550,000 $975,000 $810,000 $570,000 $700,000 $585,000 $955,000 $760,000 $860,000 $475,000 $375,000 $965,000 $620,000 $670,000 $935,000 $680,000 $360,000 $580,000

24% 24% 21% 25% 18% 24% 24% 24% 20% 22% 25% 47% 21% 22% 26% 21% 19% 38% 25%

$195,000 $105,000 $170,000 $160,000 $85,000 $135,000 $115,000 $185,000 $125,000 $155,000 $95,000 $120,000 $167,500 $110,000 $140,000 $160,000 $110,000 $100,000 $115,000

$3,000,000 $800,000 $1,400,000 $1,320,000 $700,000 $1,025,000 $915,000 $2,105,000 $1,725,000 $1,920,000 $645,000 $550,000 $2,350,000 $858,000 $2,200,000 $3,840,000 $1,210,000 $700,000 $1,850,000

11.6% 11.6% 11.6% 11.6% 11.6% 11.6% 13.0% 11.6% 11.6% 17.9% 11.6% 11.6% 3.8% 12.0% 20.2% 4.5% 9.0% 14.1% 10.5%

THAMES-COROMANDEL

$835,000

20%

$140,000

$4,250,000

11.3%

TE MATA ONEMANA COOKS BEACH HAHEI TE PURU COROMANDEL MATARANGI TAIRUA PAUANUI WHANGAMATA THAMES WHITIANGA

$700,000 $990,000 $930,000 $1,210,000 $670,000 $630,000 $815,000 $785,000 $940,000 $1,035,000 $580,000 $745,000

14% 42% 24% 18% 15% 10% 31% 13% 18% 36% 20% 13%

$85,000 $292,500 $180,000 $185,000 $85,000 $55,000 $195,000 $90,000 $140,000 $275,000 $95,000 $85,000

$1,435,500 $2,150,000 $2,900,000 $3,400,000 $1,030,000 $1,450,000 $2,275,000 $3,110,000 $2,950,000 $4,250,000 $1,310,000 $2,300,000

11.3% 11.3% 11.3% 11.3% 11.3% 11.3% 11.3% 9.3% 5.8% 20.8% 10.2% 7.2%

WAIKATO

$810,000

14%

$100,000

$4,550,000

12.8%

NEWSTEAD PUKEKAWA BUCKLAND MEREMERE TAUPIRI PORT WAIKATO MANGATAWHIRI WHATAWHATA TE KOWHAI RAGLAN TE KAUWHATA TAMAHERE NGARUAWAHIA TUAKAU POKENO HUNTLY

$1,385,000 $1,015,000 $1,165,000 $385,000 $860,000 $515,000 $1,105,000 $1,052,500 $1,050,000 $880,000 $665,000 $1,510,000 $565,000 $680,000 $860,000 $440,000

28% 22% 19% 12% 14% 20% 14% 19% 5% 21% 12% 14% 23% 15% 14% 17%

$300,000 $185,000 $182,500 $40,000 $105,000 $85,000 $135,000 $167,500 $50,000 $155,000 $72,500 $185,000 $105,000 $90,000 $105,000 $65,000

$2,060,000 $1,320,000 $1,450,000 $605,000 $1,950,000 $695,000 $2,000,000 $1,330,000 $1,600,000 $1,725,000 $1,110,000 $4,550,000 $3,200,000 $1,875,000 $1,650,000 $975,000

12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 12.8% 14.2% 10.4% 12.8% 8.5% 9.7% 11.0% 16.9%

WAIPA

$775,000

19%

$125,000

$3,075,000

12.2%

TE MIRO NGAHINAPOURI RUKUHIA PIRONGIA OHAUPO KIHIKIHI CAMBRIDGE LEAMINGTON TE AWAMUTU

$1,060,000 $1,145,000 $1,195,000 $830,000 $965,000 $595,000 $905,000 $755,000 $620,000

19% 24% 21% 18% 12% 25% 15% 19% 22%

$170,000 $222,500 $210,000 $125,000 $100,000 $120,000 $120,000 $120,000 $110,000

$2,500,000 $1,195,000 $1,465,000 $1,430,000 $3,075,000 $1,100,000 $2,000,000 $1,660,000 $1,860,000

12.2% 12.2% 12.2% 12.2% 12.2% 4.2% 16.4% 9.8% 16.9%

WAITOMO

$330,000

20%

$55,000

$830,000

13.9%

PIOPIO MOKAU TE KUITI

$240,000 $300,000 $345,000

2% 13% 25%

$5,000 $35,000 $70,000

$393,000 $570,000 $830,000

13.9% 13.9% 13.9%

BAY OF PLENTY

$765,000

21%

$135,000

$4,000,000

16.4%

KAWERAU

$350,000

15%

$45,000

$680,000

16.4%

OPOTIKI

$435,000

30%

$100,000

$1,500,000

16.4%

TIROHANGA WAIOTAHE OPOTIKI

$757,500 $795,000 $380,000

30% 24% 52%

$175,000 $155,000 $130,000

$1,200,000 $1,500,000 $820,000

16.4% 16.4% 16.4%

ROTORUA

$600,000

25%

$120,000

$3,100,000

10.4%

LAKE ROTOMA OKERE FALLS

$495,000 $800,000

25% 28%

$100,000 $175,000

$900,000 $1,730,000

10.4% 10.4%

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

TIKITERE SELWYN HEIGHTS MAMAKU ROTORUA FENTON PARK FORDLANDS KOUTU FAIRY SPRINGS HILLCREST VICTORIA UTUHINA KAWAHA POINT HAMURANA POMARE SUNNYBROOK SPRINGFIELD MANGAKAKAHI LYNMORE NGONGOTAHA WESTERN HEIGHTS GLENHOLME PUKEHANGI OWHATA

$1,140,000 $495,000 $357,500 $475,000 $525,000 $305,000 $455,000 $525,000 $605,000 $505,000 $590,000 $685,000 $1,060,000 $680,000 $620,000 $730,000 $487,500 $845,000 $580,000 $445,000 $622,500 $540,000 $590,000

11% 27% 0% 20% 27% 33% 30% 28% 29% 17% 33% 25% 25% 19% 27% 20% 27% 17% 29% 25% 14% 23% 27%

$115,000 $105,000 $357,500 $80,000 $110,000 $75,000 $105,000 $115,000 $135,000 $75,000 $145,000 $135,000 $210,000 $107,500 $130,000 $120,000 $102,500 $120,000 $130,000 $90,000 $77,500 $100,000 $125,000

$2,000,000 $600,000 $630,000 $850,000 $852,500 $390,000 $1,185,000 $680,000 $695,000 $900,000 $690,000 $1,850,000 $3,100,000 $1,180,000 $2,600,000 $1,015,000 $705,000 $1,050,000 $1,324,500 $770,000 $1,280,000 $870,000 $930,000

10.4% 10.4% 10.4% 10.4% 10.4% 18.2% 10.4% 10.4% 10.4% 10.4% 10.4% 10.4% 10.4% 10.4% 10.4% 8.4% 10.4% -0.8% 6.1% 11.5% 17.8% 14.6% 11.6%

TAURANGA

$850,000

24%

$165,000

$4,000,000

17.8%

POIKE TAURIKO PARKVALE HAIRINI PAPAMOA JUDEA MAUNGATAPU TAURANGA GREERTON OHAUITI BELLEVUE BROOKFIELD MATUA TAURANGA SOUTH GATE PA BETHLEHEM OTUMOETAI WELCOME BAY PYES PA MOUNT MAUNGANUI PAPAMOA BEACH

$605,000 $1,525,000 $605,000 $695,000 $792,500 $680,000 $787,500 $855,000 $665,000 $960,000 $705,000 $735,000 $935,000 $745,000 $640,000 $975,000 $870,000 $775,000 $940,000 $960,000 $905,000

27% 17% 27% 28% 13% 28% 24% 27% 23% 24% 28% 27% 25% 23% 27% 21% 23% 22% 25% 22% 26%

$130,000 $220,000 $130,000 $150,000 $92,500 $150,000 $152,500 $180,000 $125,000 $185,000 $155,000 $155,000 $185,000 $140,000 $135,000 $170,000 $160,000 $140,000 $190,000 $175,000 $185,000

$850,000 $2,400,000 $660,000 $825,000 $2,125,000 $1,210,000 $1,920,000 $2,275,000 $810,000 $1,580,000 $900,000 $1,525,000 $2,470,000 $1,600,000 $1,200,000 $2,720,000 $2,520,000 $1,950,000 $2,240,000 $4,000,000 $3,050,000

17.8% 17.8% 8.0% 19.3% 17.8% 15.4% 14.2% 2.6% 10.8% 5.4% 14.2% 8.2% 8.3% 2.4% 14.3% 15.9% 17.9% 12.6% 13.3% 12.8% 22.3%

WESTERN BAY OF PLENTY

$910,000

21%

$160,000

$3,100,000

12.6%

PONGAKAWA MAKETU TANNERS POINT PAENGAROA OROPI OMANAWA MINDEN TE PUNA ATHENREE PUKEHINA TAHAWAI WHAKAMARAMA AONGATETE WAIHI BEACH OMOKOROA KATIKATI TE PUKE

$760,000 $677,500 $955,000 $745,000 $1,210,000 $1,210,000 $1,400,000 $1,502,500 $830,000 $970,000 $995,000 $1,250,000 $1,025,000 $1,150,000 $900,000 $640,000 $655,000

13% 34% 21% 23% 15% 27% 27% 36% 19% 25% 8% 27% 19% 40% 16% 15% 25%

$90,000 $172,500 $165,000 $140,000 $160,000 $257,500 $295,000 $395,000 $135,000 $195,000 $75,000 $265,000 $165,000 $330,000 $125,000 $85,000 $130,000

$1,900,000 $1,100,000 $2,100,000 $1,180,000 $1,900,000 $1,900,000 $3,100,000 $3,000,000 $1,575,000 $1,570,000 $1,600,000 $1,920,000 $1,850,000 $3,050,000 $2,600,000 $1,275,000 $1,550,000

12.6% 12.6% 12.6% 12.6% 0.0% 12.6% 12.6% 0.0% 12.6% 19.9% 12.6% 16.7% 8.6% 18.4% 21.7% 6.0% 11.4%

WHAKATANE

$615,000

23%

$115,000

$3,650,000

11.4%

MURUPARA MATATA EDGECUMBE COASTLANDS OHOPE WHAKATANE

$130,000 $640,000 $425,000 $810,000 $930,000 $580,000

18% 33% 12% 19% 22% 29%

$20,000 $157,500 $45,000 $130,000 $165,000 $130,000

$190,000 $1,300,000 $670,000 $1,130,000 $3,650,000 $1,260,000

11.4% 11.4% 11.4% 11.4% 13.3% 14.0%

GISBORNE

$550,000

39%

$155,000

$2,150,000

35.0%

OKITU ELGIN LYTTON WEST RIVERDALE INNER KAITI GISBORNE OUTER KAITI KAITI WHATAUPOKO MANGAPAPA TE HAPARA

$972,500 $440,000 $880,000 $645,000 $620,000 $480,000 $375,000 $410,000 $715,000 $540,000 $490,000

16% 47% 34% 43% 39% 30% 47% 41% 38% 42% 38%

$137,500 $140,000 $222,500 $195,000 $175,000 $110,000 $120,000 $120,000 $195,000 $160,000 $135,000

$1,360,000 $485,000 $1,267,500 $1,430,000 $1,700,000 $1,100,000 $705,000 $950,000 $1,380,000 $895,000 $1,040,000

35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 43.1% 22.4% 34.8% 32.6%

OneRoof.co.nz

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

$160,000

$3,400,000

19.1%

HAWKE’S BAY

$670,000

31%

CENTRAL HAWKE’S BAY

$480,000

25%

$95,000

$1,400,000

7.5%

PORANGAHAU OTANE WAIPAWA WAIPUKURAU

$350,000 $512,500 $487,500 $465,000

-3% 19% 35% 21%

-$10,000 $82,500 $127,500 $80,000

$1,170,000 $1,300,000 $1,400,000 $1,280,000

7.5% 7.5% 11.8% 0.9%

HASTINGS

$665,000

32%

$160,000

$3,400,000

21.1%

MARAEKAKAHO TE AWANGA HAUMOANA ESKDALE WAIMARAMA CLIVE CAMBERLEY SAINT LEONARDS FRIMLEY MAYFAIR PARKVALE HASTINGS MAHORA RAUREKA AKINA FLAXMERE HAVELOCK NORTH

$950,000 $800,000 $840,000 $980,000 $1,160,000 $720,000 $435,000 $615,000 $770,000 $595,000 $630,000 $545,000 $660,000 $620,000 $590,000 $445,000 $940,000

12% 26% 57% 21% 23% 24% 50% 35% 31% 37% 33% 30% 35% 38% 33% 37% 25%

$100,000 $165,000 $305,000 $170,000 $215,000 $140,000 $145,000 $160,000 $180,000 $160,000 $155,000 $125,000 $170,000 $170,000 $145,000 $120,000 $190,000

$1,100,000 $1,001,000 $3,000,000 $1,575,000 $3,200,000 $1,350,000 $933,000 $807,000 $1,400,000 $712,000 $988,000 $1,050,000 $911,000 $885,000 $900,000 $595,000 $2,790,000

21.1% 21.1% 21.1% 21.1% 21.1% 21.1% -1.9% 16.5% 11.7% 16.9% 9.8% 13.9% 19.9% 23.1% 18.2% 19.7% 23.8%

NAPIER

$705,000

29%

$160,000

$2,700,000

15.3%

WESTSHORE TE AWA AHURIRI AWATOTO MARAENUI BAY VIEW HOSPITAL HILL PORAITI BLUFF HILL PIRIMAI ONEKAWA MAREWA TAMATEA NAPIER SOUTH GREENMEADOWS TARADALE

$1,015,000 $835,000 $910,000 $860,000 $470,000 $942,500 $905,000 $1,017,500 $945,000 $655,000 $620,000 $555,000 $665,000 $655,000 $745,000 $755,000

39% 27% 26% 22% 52% 34% 27% 21% 26% 32% 36% 28% 36% 27% 25% 23%

$282,500 $180,000 $185,000 $155,000 $160,000 $240,000 $190,000 $177,500 $197,500 $160,000 $165,000 $120,000 $175,000 $140,000 $150,000 $140,000

$1,625,000 $970,000 $2,250,000 $1,200,000 $699,000 $2,700,000 $1,290,000 $1,800,000 $1,500,000 $740,000 $836,000 $785,000 $950,000 $1,120,000 $1,125,000 $1,620,000

15.3% 15.3% 15.3% 0.0% 29.4% 10.0% 21.8% 2.7% 6.8% 9.5% 20.5% 14.6% 12.0% 9.4% 14.8% 16.9%

WAIROA

$295,000

48%

$95,000

$1,000,000

19.1%

MAHIA WAIROA

$615,000 $270,000

21% 59%

$105,000 $100,000

$1,000,000 $536,000

19.1% 19.1%

MANAWATU-WHANGANUI

$525,000

35%

$135,000

$2,150,000

19.4%

HOROWHENUA

$500,000

35%

$130,000

$1,630,434

16.9%

TOKOMARU WAIKAWA BEACH KOPUTAROA OHAU MANAKAU WAITARERE BEACH SHANNON FOXTON FOXTON BEACH LEVIN

$560,000 $625,000 $837,500 $825,000 $750,000 $565,000 $425,000 $397,500 $490,000 $495,000

32% 37% 25% 25% 30% 41% 55% 33% 31% 34%

$135,000 $170,000 $167,500 $165,000 $172,500 $165,000 $150,000 $97,500 $115,000 $125,000

$971,000 $662,500 $950,000 $1,200,000 $1,630,434 $951,000 $985,000 $1,125,000 $1,350,000 $1,510,000

16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.7% 11.6% 17.1%

MANAWATU

$560,000

29%

$125,000

$1,375,000

15.6%

TANGIMOANA HALCOMBE POHANGINA SANSON HIMATANGI BEACH RONGOTEA FEILDING

$350,000 $865,000 $780,000 $497,500 $460,000 $570,000 $550,000

59% 68% 24% 36% 35% 33% 29%

$130,000 $350,000 $150,000 $132,500 $120,000 $140,000 $125,000

$451,750 $1,375,000 $1,190,000 $1,120,000 $735,000 $1,100,000 $1,270,000

15.6% 15.6% 15.6% 15.6% 15.6% 0.0% 19.5%

PALMERSTON NORTH

$625,000

36%

$165,000

$2,150,000

21.8%

WHAKARONGO AOKAUTERE CLOVERLEA WESTBROOK BUNNYTHORPE ASHHURST FITZHERBERT WEST END HIGHBURY TERRACE END TAKARO ROSLYN MILSON

$840,000 $890,000 $595,000 $510,000 $790,000 $575,000 $865,000 $600,000 $510,000 $620,000 $550,000 $535,000 $630,000

27% 11% 43% 36% 25% 24% 27% 40% 34% 35% 34% 39% 40%

$180,000 $90,000 $180,000 $135,000 $160,000 $110,000 $185,000 $172,500 $130,000 $160,000 $140,000 $150,000 $180,000

$740,000 $1,700,000 $850,000 $1,000,000 $1,350,000 $1,225,000 $1,820,000 $1,150,000 $757,000 $1,050,000 $811,575 $1,100,000 $820,000

21.8% 21.8% 2.1% 21.8% 21.8% 13.8% 11.0% 20.5% 17.6% 23.3% 16.4% 19.6% 23.6%

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE 37% 28% 35% 32%

17

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

$170,000 $165,000 $160,000 $180,000

$1,060,000 $2,150,000 $1,100,000 $2,080,000

18.1% 15.6% 22.7% 23.0%

PALMERSTON NORTH KELVIN GROVE AWAPUNI HOKOWHITU

$625,000 $745,000 $615,000 $745,000

RANGITIKEI

$380,000

33%

$95,000

$1,400,000

19.2%

HUNTERVILLE BULLS TAIHAPE MARTON

$210,000 $420,000 $260,000 $380,000

-16% 33% 27% 27%

-$40,000 $105,000 $55,000 $80,000

$950,000 $975,000 $595,000 $1,400,000

19.2% 19.2% 28.8% 16.3%

RUAPEHU

$310,000

27%

$65,000

$780,000

20.0%

RAETIHI OWHANGO RANGATAUA MANUNUI OHAKUNE TAUMARUNUI

$245,000 $495,000 $335,000 $255,000 $435,000 $260,000

23% 161% 10% 19% 19% 37%

$45,000 $305,000 $30,000 $40,000 $70,000 $70,000

$455,000 $575,000 $391,000 $725,000 $780,000 $560,000

20.0% 20.0% 20.0% 20.0% -0.5% 35.7%

TARARUA

$345,000

25%

$70,000

$850,000

23.4%

WOODVILLE PAHIATUA DANNEVIRKE

$310,000 $370,000 $340,000

17% 32% 24%

$45,000 $90,000 $65,000

$685,000 $838,000 $850,000

30.8% 21.3% 18.3%

WHANGANUI

$450,000

45%

$140,000

$1,300,000

17.4%

MARYBANK WESTMERE DURIE HILL COLLEGE ESTATE OTAMATEA SAINT JOHNS HILL TAWHERO SPRINGVALE ARAMOHO CASTLECLIFF WHANGANUI GONVILLE WHANGANUI EAST

$627,500 $845,000 $545,000 $550,000 $755,000 $610,000 $485,000 $515,000 $415,000 $345,000 $355,000 $395,000 $415,000

41% 27% 49% 43% 30% 37% 47% 37% 54% 47% 42% 49% 43%

$182,500 $180,000 $180,000 $165,000 $175,000 $165,000 $155,000 $140,000 $145,000 $110,000 $105,000 $130,000 $125,000

$705,000 $1,020,000 $630,000 $750,000 $1,146,000 $1,300,000 $710,000 $835,000 $780,000 $1,200,000 $730,000 $781,010 $675,000

17.4% 17.4% 0.0% 17.4% 14.2% 22.5% 8.2% 17.0% 16.1% 21.0% 6.3% 13.2% 14.5%

TARANAKI

$510,000

21%

$90,000

$2,560,000

11.3%

NEW PLYMOUTH

$570,000

23%

$105,000

$2,560,000

12.1%

OMATA HILLSBOROUGH FERNDALE OKATO URENUI BROOKLANDS LEPPERTON MARFELL LYNMOUTH OAKURA HURDON HURWORTH WAIWHAKAIHO BLAGDON UPPER VOGELTOWN LOWER VOGELTOWN MOTUROA WELBOURN HIGHLANDS PARK VOGELTOWN FITZROY STRANDON WHALERS GATE SPOTSWOOD FRANKLEIGH PARK INGLEWOOD MERRILANDS NEW PLYMOUTH WAITARA BELL BLOCK WESTOWN

$875,000 $950,000 $535,000 $455,000 $450,000 $545,000 $775,000 $365,000 $570,000 $905,000 $620,000 $882,500 $940,000 $475,000 $560,000 $557,500 $555,000 $585,000 $750,000 $520,000 $675,000 $690,000 $675,000 $440,000 $565,000 $475,000 $645,000 $655,000 $395,000 $570,000 $505,000

14% 19% 20% 23% -36% 27% 21% 18% 28% 16% 27% 15% 19% 22% 23% 25% 25% 27% 19% 24% 23% 22% 27% 17% 22% 19% 24% 24% 30% 23% 20%

$110,000 $150,000 $90,000 $85,000 -$250,000 $115,000 $135,000 $55,000 $125,000 $125,000 $132,500 $112,500 $152,500 $85,000 $105,000 $112,500 $110,000 $125,000 $120,000 $100,000 $125,000 $125,000 $145,000 $65,000 $100,000 $75,000 $125,000 $125,000 $90,000 $105,000 $85,000

$1,310,000 $1,250,000 $935,000 $680,000 $1,200,000 $1,380,000 $1,550,000 $585,000 $840,000 $1,675,000 $1,300,000 $1,000,000 $1,260,000 $543,500 $689,000 $900,000 $1,410,000 $1,106,000 $1,252,000 $710,000 $1,775,000 $1,900,000 $850,000 $575,000 $1,180,000 $910,000 $960,000 $2,560,000 $660,000 $1,225,000 $1,150,000

12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 12.1% 2.3% 5.4% 12.1% 12.1% 8.6% 12.0% 19.9% 10.1% 0.7% 16.5% 14.4% 15.1% 14.1% 16.1% 12.9% 9.4%

SOUTH TARANAKI

$335,000

26%

$70,000

$1,060,000

8.4%

MANAIA PATEA WAVERLEY NORMANBY OPUNAKE ELTHAM HAWERA

$235,000 $215,000 $250,000 $280,000 $325,000 $285,000 $380,000

38% 59% 43% 8% 14% 27% 27%

$65,000 $80,000 $75,000 $20,000 $40,000 $60,000 $80,000

$619,000 $404,000 $410,000 $972,000 $655,000 $680,000 $1,060,000

8.4% 8.4% 8.4% 2.7% 12.0% 4.4% 13.7%

18

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SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

ELDERSLEA TOTARA PARK TRENTHAM

$745,000 $715,000 $725,000

25% 30% 25%

$150,000 $165,000 $145,000

$925,000 $1,200,000 $1,370,000

19.3% 12.5% 18.6%

WELLINGTON

$1,025,000

27%

$215,000

$5,750,000

18.3%

17.4% 17.4% 17.4% 0.0% 17.4% 15.9% 0.5% 17.4% 18.9% 10.7% 17.4% 8.2% 13.0% 16.9% 17.4% 17.3% 25.2% 13.9% 18.3% 16.9% 11.6% 18.6% 24.4%

MORNINGTON PIPITEA VOGELTOWN MAUPUIA ROSENEATH MELROSE SOUTHGATE HOUGHTON BAY ORIENTAL BAY WOODRIDGE GRENADA VILLAGE STRATHMORE PARK CROFTON DOWNS WILTON ARO VALLEY SEATOUN KELBURN KILBIRNIE BERHAMPORE BROADMEADOWS WADESTOWN LYALL BAY NORTHLAND NEWTOWN PAPARANGI HATAITAI THORNDON MOUNT COOK MOUNT VICTORIA WELLINGTON CENTRAL BROOKLYN NGAIO CHURTON PARK ISLAND BAY NEWLANDS MIRAMAR KHANDALLAH JOHNSONVILLE TE ARO KARORI TAWA

$1,035,000 $725,000 $1,022,500 $985,000 $1,460,000 $1,135,000 $1,120,000 $1,110,000 $2,220,000 $990,000 $1,035,000 $1,030,000 $1,140,000 $1,080,000 $1,025,000 $1,715,000 $1,520,000 $980,000 $1,010,000 $937,500 $1,310,000 $1,070,000 $1,145,000 $1,115,000 $910,000 $1,260,000 $900,000 $812,500 $1,345,000 $395,000 $1,120,000 $1,140,000 $1,135,000 $1,200,000 $885,000 $1,070,000 $1,310,000 $860,000 $700,000 $1,110,000 $880,000

26% 16% 29% 25% 25% 27% 27% 26% 18% 29% 29% 30% 34% 31% 27% 23% 23% 26% 28% 26% 26% 27% 27% 29% 30% 22% 18% 23% 35% 13% 27% 32% 30% 30% 30% 26% 26% 25% 16% 30% 28%

$215,000 $100,000 $232,500 $200,000 $290,000 $240,000 $240,000 $230,000 $337,500 $220,000 $230,000 $235,000 $290,000 $255,000 $220,000 $325,000 $280,000 $200,000 $220,000 $192,500 $270,000 $225,000 $245,000 $250,000 $210,000 $230,000 $135,000 $152,500 $350,000 $45,000 $235,000 $275,000 $265,000 $280,000 $205,000 $220,000 $270,000 $170,000 $95,000 $255,000 $190,000

$1,115,000 $818,000 $1,408,180 $1,205,500 $2,812,400 $1,736,080 $2,209,333 $1,685,500 $4,310,000 $1,230,000 $1,404,040 $2,000,002 $1,607,000 $1,361,100 $1,400,000 $3,333,000 $3,685,000 $1,700,000 $1,210,000 $1,255,000 $2,200,000 $1,711,000 $3,150,000 $1,721,500 $1,421,000 $1,800,000 $2,300,000 $1,900,000 $2,750,000 $1,220,000 $2,489,000 $1,700,000 $1,660,000 $1,957,500 $2,180,000 $1,680,750 $5,750,000 $2,112,288 $1,670,000 $3,820,000 $2,355,000

18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 7.2% 18.3% 18.3% 26.5% 11.1% 18.3% 17.0% 12.7% 12.5% 18.7% 12.8% 9.5% 7.3% 18.4% 25.4% 15.3% 15.1% 18.9% 12.4% 21.1% 15.5% 7.9% 17.6% 16.4%

$1,660,000

14.2%

$1,550,000 $900,000 $1,175,000 $960,000 $1,300,000

14.2% 14.2% 10.9% 17.8% 11.7%

SOUTH ISLAND NELSON

$660,000

15%

$85,000

$3,000,000

10.8%

$190,000

$2,450,000

19.4%

$150,000 $250,000 $185,000 $160,000 $205,000 $225,000 $192,500 $150,000 $175,000 $255,000 $200,000 $210,000

$590,500 $865,000 $1,600,000 $1,460,000 $1,215,000 $1,040,000 $2,450,000 $650,000 $861,000 $1,530,000 $1,205,000 $1,840,000

19.4% 19.4% 19.4% 19.4% 19.4% 19.4% 19.4% 19.4% 19.4% 16.9% 19.7% 19.9%

BEACHVILLE MAITAI MARYBANK BRITANNIA HEIGHTS NELSON BISHOPDALE STEPNEYVILLE ANNESBROOK WAKATU THE BROOK MONACO ATAWHAI ENNER GLYNN WASHINGTON VALLEY TOI TOI THE WOOD

$705,000 $747,500 $805,000 $1,180,000 $932,500 $682,500 $970,000 $600,000 $600,000 $625,000 $650,000 $785,000 $745,000 $565,000 $510,000 $700,000

15% 13% 13% 13% 13% 16% 10% 15% 15% 15% 17% 15% 14% 15% 13% 12%

$92,500 $87,500 $95,000 $132,500 $110,000 $92,500 $90,000 $80,000 $80,000 $80,000 $95,000 $100,000 $90,000 $75,000 $60,000 $75,000

$897,200 $1,700,000 $1,430,000 $2,420,000 $1,600,000 $806,000 $3,000,000 $750,000 $985,000 $741,000 $906,000 $1,610,000 $1,980,000 $1,050,000 $760,000 $1,620,000

10.8% 10.8% 10.8% 10.8% 10.8% 10.8% 10.8% 10.8% 10.8% 10.8% 0.6% 8.4% 14.0% 11.1% 13.3% 11.6%

31%

$165,000

$2,100,000

16.6%

TAHUNANUI NELSON SOUTH STOKE

$580,000 $580,000 $650,000

15% 14% 15%

$75,000 $70,000 $85,000

$930,000 $1,900,000 $1,530,000

8.7% 11.3% 8.2%

36% 40% 28% 26%

$235,000 $230,000 $110,000 $165,000

$1,750,000 $1,840,000 $2,100,000 $1,970,000

16.6% 9.9% 14.2% 25.4%

MARLBOROUGH

$575,000

25%

$115,000

$3,000,000

19.9%

$760,000

27%

$160,000

$1,750,000

19.3%

$735,000 $640,000 $860,000 $690,000 $800,000 $810,000 $985,000 $730,000 $730,000 $695,000 $695,000 $905,000

29% 38% 31% 33% 27% 30% 27% 26% 30% 34% 25% 29%

$165,000 $175,000 $205,000 $170,000 $170,000 $185,000 $210,000 $150,000 $170,000 $175,000 $140,000 $205,000

$1,042,500 $1,300,000 $1,750,000 $720,000 $902,000 $1,050,000 $1,160,000 $875,000 $1,015,000 $1,252,000 $1,170,000 $1,253,750

19.3% 19.3% 0.8% 19.3% 19.3% 19.3% 4.4% 21.9% 19.3% 18.6% 20.5% 11.8%

WAIRAU VALLEY RIVERLANDS SEDDON HAVELOCK ISLINGTON BURLEIGH MAYFIELD RIVERSDALE WAIKAWA RENWICK PICTON WITHERLEA SPRINGLANDS REDWOODTOWN BLENHEIM

$780,000 $975,000 $360,000 $650,000 $510,000 $795,000 $490,000 $485,000 $680,000 $535,000 $495,000 $650,000 $690,000 $535,000 $525,000

8% 5% 7% 57% 31% 16% 32% 33% 14% 18% 24% 30% 30% 27% 27%

$60,000 $50,000 $25,000 $235,000 $120,000 $107,500 $120,000 $120,000 $85,000 $80,000 $95,000 $150,000 $160,000 $115,000 $110,000

$2,000,000 $2,180,000 $470,000 $1,150,000 $668,000 $800,000 $821,000 $703,000 $2,555,000 $1,420,000 $1,040,000 $1,170,000 $1,650,000 $725,000 $858,500

19.9% 19.9% 19.9% 19.9% 19.9% 19.9% 21.1% 19.9% 13.1% 14.9% 18.8% 17.0% 11.6% 20.0% 14.6%

STRATFORD

$385,000

20%

$65,000

$1,200,000

11.1%

MIDHIRST STRATFORD

$460,000 $370,000

21% 21%

$80,000 $65,000

$710,000 $900,000

11.1% 11.6%

WELLINGTON

$855,000

28%

$185,000

$5,750,000

18.9%

CARTERTON

$505,000

22%

$90,000

$1,090,000

18.3%

KAPITI COAST

$790,000

28%

$175,000

$4,150,001

18.2%

OTAIHANGA TE HORO BEACH PAEKAKARIKI TE HORO OTAKI BEACH RAUMATI SOUTH WAIKANAE BEACH RAUMATI BEACH OTAKI PARAPARAUMU WAIKANAE PARAPARAUMU BEACH

$865,000 $705,000 $785,000 $1,192,500 $575,000 $825,000 $880,000 $825,000 $575,000 $735,000 $810,000 $805,000

24% 31% 40% 22% 26% 29% 29% 30% 24% 28% 31% 29%

$165,000 $165,000 $225,000 $217,500 $120,000 $185,000 $200,000 $190,000 $110,000 $162,500 $190,000 $180,000

$1,850,000 $750,000 $1,367,000 $2,050,000 $815,000 $1,570,000 $1,615,000 $2,200,000 $1,225,000 $3,200,000 $4,150,001 $2,300,000

18.2% 18.2% 18.2% 18.2% 26.4% 28.4% 18.8% 15.0% 17.2% 21.8% 12.4% 23.6%

LOWER HUTT

$800,000

33%

$200,000

$3,409,000

17.4%

HARBOUR VIEW KOROKORO TIROHANGA ALICETOWN MOERA FAIRFIELD NORMANDALE EPUNI BOULCOTT WOBURN BELMONT KELSON WAIWHETU EASTBOURNE HUTT CENTRAL WATERLOO AVALON MAUNGARAKI TAITA NAENAE PETONE STOKES VALLEY WAINUIOMATA

$935,000 $1,015,000 $1,000,000 $970,000 $760,000 $890,000 $905,000 $900,000 $935,000 $1,180,000 $910,000 $840,000 $850,000 $1,145,000 $1,075,000 $915,000 $805,000 $905,000 $660,000 $690,000 $960,000 $695,000 $645,000

28% 29% 31% 39% 33% 35% 29% 35% 34% 29% 29% 28% 36% 29% 29% 31% 32% 27% 32% 38% 30% 40% 37%

$205,000 $230,000 $237,500 $270,000 $190,000 $230,000 $205,000 $235,000 $235,000 $265,000 $205,000 $185,000 $225,000 $255,000 $240,000 $215,000 $195,000 $190,000 $160,000 $190,000 $220,000 $200,000 $175,000

$895,000 $1,441,000 $1,525,000 $1,152,000 $820,000 $1,260,000 $1,525,000 $1,315,000 $1,610,000 $1,700,000 $1,740,000 $975,000 $1,200,000 $2,300,000 $1,900,000 $1,335,000 $1,150,000 $1,411,974 $855,000 $1,175,000 $2,455,000 $1,120,000 $950,000

MASTERTON

$525,000

28%

$115,000

UPPER PLAIN KURIPUNI LANSDOWNE SOLWAY MASTERTON

$1,027,500 $470,000 $535,000 $500,000 $485,000

32% 29% 24% 28% 33%

$247,500 $105,000 $105,000 $110,000 $120,000

PORIRUA

$825,000

30%

WAITANGIRUA ASCOT PARK CAMBORNE PUKERUA BAY PLIMMERTON PAPAKOWHAI PAREMATA CANNONS CREEK RANUI AOTEA TITAHI BAY WHITBY

$565,000 $750,000 $935,000 $840,000 $1,015,000 $960,000 $947,500 $575,000 $640,000 $1,190,000 $760,000 $960,000

36% 50% 25% 24% 25% 31% 25% 35% 38% 27% 36% 28%

SOUTH WAIRARAPA

$705,000

TAUHERENIKAU MARTINBOROUGH FEATHERSTON GREYTOWN

$890,000 $810,000 $510,000 $790,000

UPPER HUTT TE MARUA TIMBERLEA HERETAUNGA MAORIBANK BROWN OWL PINEHAVEN RIVERSTONE TERRACES EBDENTOWN WALLACEVILLE BIRCHVILLE CLOUSTON PARK SILVERSTREAM

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SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

TASMAN

$730,000

16%

$100,000

$3,580,000

12.6%

MURCHISON TAPAWERA RIWAKA POHARA TASMAN RUBY BAY TAKAKA REDWOOD VALLEY HOPE UPPER MOUTERE MAPUA BRIGHTWATER WAKEFIELD MOTUEKA RICHMOND

$320,000 $472,500 $645,000 $725,000 $1,145,000 $1,080,000 $525,000 $1,225,000 $1,015,000 $1,060,000 $880,000 $725,000 $730,000 $620,000 $735,000

31% 17% 16% 23% 17% 17% 19% 14% 22% 12% 19% 9% 15% 17% 16%

$75,000 $67,500 $90,000 $135,000 $165,000 $155,000 $82,500 $155,000 $182,500 $110,000 $140,000 $60,000 $97,500 $90,000 $100,000

$450,000 $1,345,000 $1,125,000 $1,005,000 $2,035,000 $1,960,000 $950,000 $3,580,000 $2,200,000 $2,500,000 $1,476,000 $1,325,000 $1,435,000 $1,550,000 $2,100,000

12.6% 12.6% 12.6% 12.6% 12.6% 12.6% 12.6% 12.6% 12.6% 12.6% 12.6% 7.9% 15.6% 15.7% 15.1%

WEST COAST

$255,000

11%

$25,000

$880,000

6.4%

BULLER

$245,000

17%

$35,000

$800,000

11.8%

CARTERS BEACH KARAMEA REEFTON WESTPORT

$320,000 $275,000 $215,000 $247,500

8% 10% 16% 18%

$22,500 $25,000 $30,000 $37,500

$740,000 $510,000 $360,000 $800,000

11.8% 11.8% 9.8% 13.8%

GREY

$240,000

12%

$25,000

$760,000

6.2%

MOANA RUNANGA PAROA BLAKETOWN KARORO COBDEN GREYMOUTH

$465,000 $150,000 $392,500 $185,000 $350,000 $170,000 $265,000

6% 7% 1% 16% 15% 17% 13%

$25,000 $10,000 $5,000 $25,000 $45,000 $25,000 $30,000

$760,000 $430,000 $570,000 $364,600 $600,000 $375,000 $549,000

6.2% 6.2% 6.2% 6.2% 6.2% 6.2% 7.8%

SUBURB

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

18% 26% 20% 16% 19% 14% 21% 16% 15% 19% 18% 13% 14% 20% 18% 11% 17% 19% 12% 23% 22% 18% 20% 18% 19% 19% 18% 19% 19% 13% 22% 18% 18% 19% 17% 14% 17%

$55,000 $75,000 $80,000 $70,000 $70,000 $100,000 $90,000 $80,000 $55,000 $130,000 $85,000 $85,000 $85,000 $90,000 $65,000 $75,000 $140,000 $90,000 $65,000 $95,000 $90,000 $75,000 $85,000 $80,000 $115,000 $80,000 $70,000 $80,000 $65,000 $70,000 $70,000 $85,000 $65,000 $65,000 $90,000 $60,000 $90,000

$460,000 $1,160,000 $825,000 $755,000 $690,000 $1,950,000 $1,435,000 $2,850,000 $750,000 $1,600,000 $1,680,000 $2,450,000 $930,000 $1,870,000 $655,000 $1,660,000 $4,600,000 $870,000 $3,620,000 $997,862 $835,000 $1,220,000 $1,850,000 $952,500 $2,905,000 $700,000 $845,000 $795,000 $700,000 $1,250,000 $728,000 $1,670,000 $1,235,000 $750,000 $2,210,000 $1,940,000 $2,350,000

25.0% 17.7% 14.8% 16.9% 12.5% 23.2% 7.9% 13.4% 15.0% 23.8% 5.3% 2.5% 8.5% 19.0% 13.2% 13.4% 13.6% 23.8% 9.0% 17.6% 8.7% 8.9% 11.8% 16.8% 11.7% 11.1% 10.2% 7.5% 18.5% 22.1% 17.3% 16.0% 10.4% 13.3% 8.1% 26.3% 11.2%

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

ARANUI PHILLIPSTOWN SHIRLEY SOCKBURN EDGEWARE MOUNTPLEASANT BELFAST CASEBROOK RICHMOND CASHMERE BRYNDWR NORTHWOOD WIGRAM PAPANUI ADDINGTON MARSHLAND MERIVALE SOMERFIELD BURNSIDE MAIREHAU BURWOOD HOON HAY RICCARTON BISHOPDALE ILAM SPREYDON HORNBY REDWOOD NEW BRIGHTON AVONHEAD LINWOOD PARKLANDS SYDENHAM WOOLSTON ST ALBANS CHRISTCHURCH CENTRAL HALSWELL

$355,000 $365,000 $480,000 $500,000 $430,000 $790,000 $515,000 $565,000 $430,000 $815,000 $560,000 $740,000 $695,000 $550,000 $425,000 $740,000 $970,000 $565,000 $605,000 $505,000 $500,000 $500,000 $520,000 $530,000 $735,000 $505,000 $470,000 $510,000 $405,000 $620,000 $390,000 $555,000 $435,000 $415,000 $605,000 $475,000 $625,000

WESTLAND

$305,000

11%

$30,000

$880,000

6.4%

HOKITIKA

$290,000

14%

$35,000

$740,000

6.4%

CANTERBURY

$535,000

18%

$80,000

$4,600,000

13.7%

HURUNUI

$475,000

9%

$40,000

$1,397,000

6.5%

CHEVIOT LEITHFIELD HANMER SPRINGS AMBERLEY

$280,000 $440,000 $580,000 $500,000

22% 17% 16% 11%

$50,000 $65,000 $80,000 $50,000

$730,000 $1,065,000 $1,397,000 $1,055,000

6.5% 6.5% 6.8% 8.0%

KAIKOURA

$560,000

20%

$95,000

$1,200,000

13.7%

KAIKOURA FLAT KAIKOURA

$645,000 $510,000

12% 16%

$70,000 $70,000

$976,000 $800,000

13.7% 13.7%

MACKENZIE

$560,000

10%

$50,000

$1,850,000

13.7%

LAKE TEKAPO FAIRLIE TWIZEL

$1,005,000 $382,500 $550,000

18% 8% 11%

$155,000 $27,500 $55,000

$1,500,000 $1,850,000 $1,025,000

13.7% 13.7% 13.7%

ASHBURTON

$405,000

13%

$45,000

$1,465,500

7.6%

ELGIN HUNTINGDON RAKAIA METHVEN NETHERBY HAMPSTEAD ASHBURTON TINWALD ALLENTON

$755,000 $782,500 $380,000 $485,000 $365,000 $345,000 $380,000 $400,000 $425,000

11% 9% 13% 17% 16% 21% 15% 16% 12%

$77,500 $65,000 $45,000 $70,000 $50,000 $60,000 $50,000 $55,000 $45,000

$910,000 $836,000 $550,000 $718,000 $600,000 $529,000 $900,000 $1,125,000 $1,320,000

7.6% 7.6% 7.6% 4.6% 11.6% 3.7% 8.5% 6.4% 9.1%

CHRISTCHURCH

$535,000

19%

$85,000

$4,600,000

16.9%

AVONSIDE CLIFTON HEATHCOTE VALLEY ISLINGTON WESTMORLAND WAIMAIRI BEACH DIAMOND HARBOUR OPAWA BECKENHAM SOUTHSHORE YALDHURST NORTHCOTE AKAROA HAREWOOD WAINONI HUNTSBURY SUMNER LYTTELTON REDCLIFFS SOUTH NEW BRIGHTON TEMPLETON AIDANFIELD DALLINGTON HEI HEI RUSSLEY BROOMFIELD HILLMORTON BROMLEY STROWAN SAINT MARTINS HILLSBOROUGH FENDALTON AVONDALE WALTHAM UPPER RICCARTON NORTH NEW BRIGHTON

$430,000 $905,000 $585,000 $445,000 $850,000 $745,000 $530,000 $615,000 $640,000 $515,000 $620,000 $460,000 $655,000 $715,000 $390,000 $835,000 $805,000 $535,000 $830,000 $455,000 $525,000 $745,000 $465,000 $450,000 $565,000 $530,000 $550,000 $400,000 $850,000 $565,000 $575,000 $1,195,000 $415,000 $400,000 $535,000 $420,000

23% 23% 17% 16% 13% 16% 9% 18% 15% 20% 9% 23% 2% 9% 20% 18% 19% 8% 19% 23% 17% 14% 19% 15% 16% 18% 22% 19% 11% 19% 17% 19% 15% 19% 16% 17%

$80,000 $170,000 $85,000 $60,000 $100,000 $100,000 $45,000 $95,000 $85,000 $85,000 $50,000 $85,000 $10,000 $60,000 $65,000 $125,000 $130,000 $40,000 $135,000 $85,000 $75,000 $90,000 $75,000 $60,000 $80,000 $80,000 $100,000 $65,000 $85,000 $90,000 $85,000 $190,000 $55,000 $65,000 $75,000 $60,000

$538,000 $1,150,000 $777,000 $485,000 $1,290,000 $1,250,000 $1,300,000 $985,000 $793,000 $1,035,000 $950,000 $855,000 $1,545,000 $1,400,000 $435,000 $1,300,000 $1,485,000 $1,325,000 $1,400,000 $767,500 $1,600,000 $1,150,000 $560,000 $630,000 $785,000 $805,000 $838,000 $490,000 $1,800,000 $803,000 $925,000 $3,100,000 $540,000 $523,000 $1,380,000 $630,000

16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 16.9% 28.4% 9.5% 16.9% 16.9% 22.5% 6.6% 5.8% 16.9% 5.6% 15.9% 16.9% 11.5% 3.8% 9.8% 16.9% 12.3% 16.9% 16.0% 8.8% 31.7% 9.7% 14.4% 6.0% 13.8%

19

SELWYN

$655,000

9%

$55,000

$3,325,000

6.5%

HORORATA DUNSANDEL SPRINGSTON TAI TAPU SOUTHBRIDGE KIRWEE LEESTON WEST MELTON DARFIELD PREBBLETON LINCOLN ROLLESTON

$455,000 $555,000 $732,500 $885,000 $430,000 $685,000 $510,000 $925,000 $560,000 $835,000 $705,000 $605,000

-17% -13% 24% 21% 9% 10% 7% 8% 8% 11% 11% 8%

-$90,000 -$85,000 $142,500 $155,000 $35,000 $60,000 $35,000 $65,000 $40,000 $80,000 $70,000 $45,000

$1,170,000 $870,000 $1,300,000 $2,550,000 $780,000 $1,100,000 $1,210,000 $1,950,000 $1,200,465 $2,000,000 $3,325,000 $1,500,000

6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 1.4% 3.2% 2.4% 6.6% 6.3% 5.8%

TIMARU

$415,000

12%

$45,000

$2,050,000

8.0%

GERALDINE DOWNS PAREORA PEEL FOREST MAORI HILL KENSINGTON WAIMATAITAI PLEASANT POINT GLENWOOD WATLINGTON PARKSIDE WEST END GLENITI SEAVIEW GERALDINE HIGHFIELD MARCHWIEL TEMUKA

$720,000 $290,000 $327,500 $460,000 $345,000 $390,000 $415,000 $465,000 $365,000 $370,000 $380,000 $600,000 $360,000 $415,000 $490,000 $385,000 $370,000

-6% 18% -27% 15% 11% 15% 5% 19% 14% 17% 13% 17% 14% 6% 20% 12% 16%

-$45,000 $45,000 -$120,000 $60,000 $35,000 $50,000 $20,000 $75,000 $45,000 $55,000 $45,000 $85,000 $45,000 $25,000 $80,000 $40,000 $50,000

$1,220,000 $595,000 $667,500 $640,000 $713,000 $1,000,000 $940,000 $665,000 $650,000 $570,000 $765,000 $990,000 $705,000 $1,026,000 $1,250,000 $989,000 $740,000

8.0% 8.0% 8.0% 8.0% 3.2% 13.4% 0.6% 8.0% 4.4% 8.0% 8.5% 7.2% 1.4% 11.0% 17.8% 1.4% 14.1%

20

OneRoof.co.nz

SUBURB

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

WAIMAKARIRI

$565,000

13%

$65,000

$3,125,000

9.0%

STARVATION HILL CLARKVILLE WAIKUKU ASHLEY WAIKUKU BEACH WEST EYRETON FERNSIDE CUST EYREWELL FOREST SEFTON LOBURN OHOKA SWANNANOA OXFORD WOODEND PEGASUS KAIAPOI RANGIORA

$805,000 $1,065,000 $785,000 $720,000 $465,000 $822,500 $902,500 $802,500 $762,500 $720,000 $795,000 $985,000 $890,000 $490,000 $545,000 $570,000 $515,000 $515,000

20% 10% 9% 10% 15% 15% 14% 13% 21% 9% 8% 9% 11% 14% 18% 14% 13% 13%

$135,000 $95,000 $65,000 $62,500 $60,000 $107,500 $112,500 $92,500 $132,500 $60,000 $60,000 $82,500 $85,000 $60,000 $85,000 $70,000 $60,000 $60,000

$875,000 $1,957,500 $1,200,000 $950,000 $901,000 $1,550,000 $1,350,000 $1,039,000 $950,000 $3,125,000 $1,300,000 $2,560,000 $1,650,000 $875,000 $960,000 $1,310,000 $1,150,000 $1,650,000

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 5.4% 6.6% 9.8% 11.1% 9.7%

WAIMATE

$340,000

17%

$50,000

$885,000

13.7%

GLENAVY WAIMATE

$267,500 $340,000

19% 19%

$42,500 $55,000

$325,000 $885,000

13.7% 13.7%

OTAGO

$630,000

16%

$85,000

$10,500,000

6.0%

CENTRAL OTAGO

$635,000

9%

$55,000

$2,350,000

-1.5%

NASEBY SPRINGVALE BRIDGE HILL ROXBURGH MOUNT PISA RANFURLY CLYDE ALEXANDRA CROMWELL

$345,000 $980,000 $645,000 $360,000 $925,000 $315,000 $650,000 $555,000 $680,000

17% 17% 11% 24% 9% 34% 12% 16% 5%

$50,000 $140,000 $65,000 $70,000 $80,000 $80,000 $70,000 $75,000 $30,000

$525,000 $1,600,000 $1,399,000 $535,000 $1,860,000 $520,000 $1,214,000 $1,176,000 $2,350,000

-1.5% -1.5% -1.5% -1.5% -1.5% -0.3% -1.5% -3.5% -1.0%

CLUTHA

$330,000

25%

$65,000

$910,000

9.0%

KAITANGATA LAWRENCE TAPANUI MILTON BALCLUTHA

$220,000 $315,000 $245,000 $320,000 $345,000

26% 26% 11% 33% 23%

$45,000 $65,000 $25,000 $80,000 $65,000

$360,000 $490,000 $440,000 $910,000 $650,000

9.0% 9.0% 9.0% 15.3% 9.3%

DUNEDIN

$600,000

25%

$120,000

$2,450,000

9.5%

BRADFORD DALMORE KEW EAST TAIERI CLYDE HILL GLENLEITH HELENSBURGH GLENROSS KINMONT PARK VAUXHALL LIBERTON SHIEL HILL BRIGHTON KARITANE WALDRONVILLE SAWYERS BAY NORMANBY FORBURY PORT CHALMERS BALACLAVA MARYHILL KAIKORAI OPOHO OUTRAM RAVENSBOURNE CONCORD CORSTORPHINE ABBOTSFORD BROCKVILLE BELLEKNOWES CALTON HILL KENMURE MAORI HILL TAINUI WAVERLEY WAIKOUAITI HALFWAY BUSH ROSLYN MUSSELBURGH WAKARI FAIRFIELD SAINT CLAIR

$535,000 $555,000 $645,000 $885,000 $492,500 $735,000 $670,000 $660,000 $655,000 $870,000 $500,000 $720,000 $660,000 $470,000 $650,000 $540,000 $505,000 $460,000 $515,000 $625,000 $610,000 $570,000 $680,000 $675,000 $510,000 $565,000 $510,000 $587,500 $470,000 $755,000 $485,000 $600,000 $910,000 $600,000 $745,000 $405,000 $555,000 $825,000 $635,000 $595,000 $700,000 $765,000

20% 25% 24% 21% 31% 25% 25% 22% 21% 22% 25% 19% 22% 13% 18% 26% 23% 24% 23% 26% 22% 28% 27% 21% 21% 23% 26% 25% 18% 22% 31% 22% 21% 22% 21% 23% 22% 26% 25% 28% 23% 23%

$90,000 $110,000 $125,000 $155,000 $117,500 $145,000 $135,000 $120,000 $115,000 $155,000 $100,000 $115,000 $120,000 $55,000 $100,000 $110,000 $95,000 $90,000 $95,000 $130,000 $110,000 $125,000 $145,000 $115,000 $90,000 $105,000 $105,000 $117,500 $70,000 $135,000 $115,000 $110,000 $155,000 $110,000 $130,000 $75,000 $100,000 $170,000 $125,000 $130,000 $130,000 $145,000

$1,025,000 $657,000 $784,000 $1,180,000 $570,000 $980,000 $745,000 $1,110,000 $1,100,000 $1,451,000 $2,450,000 $963,369 $960,000 $758,000 $1,450,000 $991,000 $948,000 $589,000 $780,000 $725,000 $1,000,000 $895,000 $966,500 $1,300,000 $692,000 $680,000 $980,000 $883,000 $695,000 $1,123,000 $590,000 $1,002,250 $2,400,000 $1,060,000 $1,260,000 $710,000 $1,110,000 $2,000,000 $850,000 $825,000 $1,210,000 $1,460,000

9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% -0.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 1.1% 9.5% 16.0% 9.5% 9.5% 9.5% 9.5% 10.3% 9.5% 12.1% 12.1% 1.2%

SUBURB NORTH DUNEDIN MORNINGTON ANDERSONS BAY DUNEDIN CENTRAL GREEN ISLAND CAVERSHAM NORTH EAST VALLEY SOUTH DUNEDIN SAINT KILDA MOSGIEL

12-MONTH $ CHANGE

HIGHEST SETTLED SALE IN LAST 12 MONTHS

HOUSE PRICE INDEX % CHANGE POSTCOVID-19

21% 20% 23% 27% 24% 25% 30% 24% 25% 25%

$125,000 $95,000 $125,000 $140,000 $110,000 $90,000 $125,000 $80,000 $100,000 $125,000

$1,365,000 $1,215,000 $903,000 $1,130,000 $950,000 $770,000 $920,000 $598,400 $720,000 $1,500,000

-0.5% 10.6% 11.9% 14.3% 7.0% 13.4% 13.1% 15.0% 10.5% 10.2%

LATEST MEDIAN 12-MONTH PROPERTY % CHANGE VALUE $725,000 $565,000 $670,000 $660,000 $560,000 $445,000 $540,000 $415,000 $500,000 $630,000

QUEENSTOWN-LAKES

$1,100,000

8%

$80,000

$10,500,000

3.4%

LUGGATE KELVIN HEIGHTS KINGSTON ARTHURS POINT FERNHILL FRANKTON LAKE HAWEA ALBERT TOWN LAKE HAYES ARROWTOWN QUEENSTOWN LOWER SHOTOVER JACKS POINT WANAKA

$702,500 $1,745,000 $570,000 $1,130,000 $875,000 $1,005,000 $790,000 $845,000 $1,092,500 $1,290,000 $1,080,000 $1,065,000 $1,340,000 $1,190,000

13% 4% -1% 6% 1% 5% 14% 8% 9% 13% 4% 2% 3% 17%

$82,500 $75,000 -$5,000 $60,000 $10,000 $50,000 $95,000 $60,000 $87,500 $145,000 $40,000 $20,000 $40,000 $170,000

$850,000 $3,200,000 $747,300 $1,800,000 $1,860,000 $2,365,000 $1,835,000 $2,080,000 $7,772,500 $10,500,000 $3,350,000 $5,391,304 $2,700,000 $4,200,000

3.4% 3.4% 3.4% 3.4% 3.4% 3.4% -6.3% 3.4% 2.6% 4.1% 2.0% 3.4% -0.9% 11.2%

WAITAKI

$390,000

13%

$45,000

$1,600,000

10.2%

HAMPDEN OTEMATATA KUROW KAKANUI WESTON HOLMES HILL PALMERSTON SOUTH HILL OAMARU OAMARU NORTH

$285,000 $430,000 $340,000 $470,000 $485,000 $435,000 $330,000 $410,000 $350,000 $360,000

14% 13% 11% 27% 14% 18% 29% 17% 17% 16%

$35,000 $50,000 $35,000 $100,000 $60,000 $65,000 $75,000 $60,000 $50,000 $50,000

$510,000 $565,000 $485,000 $1,600,000 $1,050,000 $1,050,000 $511,050 $895,000 $550,000 $970,000

10.2% 10.2% 10.2% 10.2% 10.2% 12.0% -9.6% 5.8% 14.0% 10.0%

SOUTHLAND

$395,000

23%

$75,000

$1,550,000

9.8%

GORE EAST GORE MATAURA GORE

$315,000 $275,000 $175,000 $355,000

24% 31% 9% 22%

$60,000 $65,000 $15,000 $65,000

$925,000 $570,000 $750,000 $925,000

10.6% 10.6% 3.1% 13.0%

INVERCARGILL

$395,000

23%

$75,000

$1,300,000

9.9%

INVERCARGILL WEST PLAINS KEW TURNBULL THOMSON PARK CLIFTON ROCKDALE ROSEDALE AVENAL HARGEST BLUFF HAWTHORNDALE WAVERLEY NEWFIELD HEIDELBERG KINGSWELL OTATARA GEORGETOWN GLADSTONE RICHMOND WAIKIWI WINDSOR GRASMERE APPLEBY GLENGARRY STRATHERN

$385,000 $760,000 $290,000 $337,500 $290,000 $345,000 $575,000 $410,000 $455,000 $240,000 $425,000 $475,000 $385,000 $335,000 $330,000 $560,000 $320,000 $545,000 $415,000 $470,000 $490,000 $400,000 $295,000 $365,000 $330,000

18% 35% 29% 32% 26% 25% 16% 22% 23% 26% 23% 17% 26% 29% 27% 29% 28% 16% 26% 19% 21% 27% 37% 24% 29%

$57,500 $195,000 $65,000 $82,500 $60,000 $70,000 $80,000 $75,000 $85,000 $50,000 $80,000 $70,000 $80,000 $75,000 $70,000 $125,000 $70,000 $75,000 $85,000 $75,000 $85,000 $85,000 $80,000 $70,000 $75,000

$590,000 $765,000 $325,000 $410,000 $398,000 $825,000 $800,000 $630,000 $779,000 $619,000 $515,000 $685,000 $475,500 $450,000 $450,000 $950,000 $515,000 $930,000 $710,000 $1,300,000 $850,257 $550,000 $429,000 $650,000 $528,000

9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 9.9% 12.3% 9.9% 12.3% 13.0% 5.5% 9.9% 5.3% 11.5% 2.7% 10.5% 6.6% 14.5% 20.2% 5.7% 5.3%

SOUTHLAND

$460,000

16%

$65,000

$1,550,000

1.9%

EDENDALE MAKAREWA LUMSDEN OTAUTAU WALLACETOWN RIVERTON TE ANAU WINTON

$322,500 $660,000 $290,000 $270,000 $380,000 $480,000 $525,000 $445,000

0% 24% 45% 26% 1% 20% 6% 27%

$322,500 $127,500 $90,000 $55,000 $5,000 $80,000 $30,000 $95,000

$595,770 $930,000 $475,000 $442,000 $900,000 $1,025,000 $1,175,000 $1,050,000

1.9% 1.9% 1.9% 1.9% 1.9% 1.9% -6.7% 1.9%

OneRoof.co.nz

21

SPOTLIGHT ON HAVELOCK NORTH

PEAK PERFORMER Life in this mellow, laid-backtown is a foodie’s delight, writes LOUISE RICHARDSON

T

e Mata Peak overlooks this classically attractive farming community on the Heretaunga Plains, just outside Hastings. The small town, named after Sir Henry Havelock, has a colonial feel with beautiful wooden houses dating back to the 1870s, not to mention post-earthquake art deco architectural treasures.

Havelock North is a relatively wealthy part of Hawke’s Bay and elevated mansions with attractive views and lifestyle sized sections are common.

The Havelock North village green, which was extensively revamped several years ago, lies at the heart of the community.

The climate was certainly a

magnet to settlers who quickly realised they could grow practically any kind of fruit — including grapes, which led to the establishment of a stillthriving wine industry begun by local monks in the late 19th century.

Who lives here and what do they do?

Close to Hastings and about 25 minutes’ drive from Napier, Havelock North is an attractive proposition. Purchasers tend to move in accordance with their family’s age and stages — and ex-pats returning home are casting their eyes over the locality with genuine interest.

Meanwhile, escapees from the

main centres who are looking for a sunny location, dream lifestyle, and newly desirable work -from-home status are finding the perfect package in the town and its surrounds.

What’s to love?

A veritable fruit bowl, Havelock North also provides all sorts of foodie delights including olive oil, honey and cheese. As well as producing world-class, award winning wine, local wineries also offer restaurants, cafes and cellar door tasting experiences, which are popular with locals as a weekend treat.

Life in the town is mellow and laid-back and fitness fans can partake in walking, mountain biking, gliding and waters ports — at Ocean and Waimarama beaches. The town is very family-friendly, with

I was s honoured to have recently rece been awarded Number 3 Sales Associate in Napier and New Zealand Sotheby’s International Realty National High Achiever.*

$940K

Current median property value

23.8%

Up on pre-Covid value levels

$190K

Median gain in last 12 months

$2.79m Highest settle sale price postCovid

excellent schools and newcomers are always warmly welcomed. The Mackersey Family Pavilion is the scene of regular markets and other community activities Buying and selling Hastings has been one of the housing market’s strongest performers, with property values in the town up 21.1 per cent on pre-Covid levels, according to the latest OneRoofValocity house price index.

Increased buyer demand and a lack of stock have put upwards pressure on prices.

Currently, the town has more than 1000 sections ready for construction work but building consent numbers remain low.

Havelock North has benefited from the post-Covid surge, with house prices there

For sale call 2 6 PU K E KU RA P L AC E , TA RA DA L E 26

jumping 23 per cent since the pandemic first put the country into lockdown and the suburb’s median property value just $60,000 shy of breaking the $1 million barrier.

The heat in the Havelock North housing market has put pressure on both buyers and vendors. New Zealand Sotheby’s International Realty Havelock North sales manager and group auction manager, Sabine Davison, said: “Essentially, what’s happening now is that people are selling subject to finding something to buy and negotiating long settlements to give them as much time as they need. Of course, this is the opposite of the

continued on R22

For sale call 6 CO L E M A N ROA D D, H OS P I TA L H I L L

I welcome the opportunity to appraise and market your property and help you achieve an award winning price.

Give me a call today!

M.+64 21 255 2435 rita.lynch@nzsir.com *NewZealand Sotheby’s International Realty Regional and National awards 2020. Each Office is Independently Owned and Operated. SHB Limited (licensed under the REAA2008) MREINZ

9 ELIZABETH RD B LU F F H I L L

14 M E R LOT D R P O RA I T I

22

OneRoof.co.nz

RECENT SALES

$922,000

55c Palmerston Rd, Havelock North.

Architecturally designed fivebedroom home with swimming pool marketed by Tammy Jensen of Harcourts Havelock North. Sale price $222,000 above 2019 rating valuation.

$1.425m

continued from R21

usual dynamic when buyers sign up for a property, subject to selling their own.”

It also meant vendors would know exactly how much money they had to play with when looking for something new.

Davison said ex-pats were very active in the region — especially at the top end of the market. “All the technology that was brought in to help us sell remotely during the 2020 lockdown is really great for overseas buyers. New Zealand still feels very safe, even if we have the occasional glitch, and Hawke’s Bay seems to be especially popular in these times — a surge to lifestyle is definitely happening.”

Davison said that buyers were out in force but lack of stock was a problem. “People ask me how long I think this

NATAS HA BOUSFIELD

HAVELOCK NORTH PROPERTY EXPERT

For exceptional results and impeccable credibility, call Natasha for your best real estate experience. +64 22 047 0175 | natasha.bousfield@nzsir.com Each office is independently owned and operated. SHB Limited (licensed under the REAA 2008) MREINZ.

“If you’ve got investors in this sector assembling a portfolio of luxury properties, they’re likely to be cashed up.” will last, I just don’t know. It’s hard to imagine anything changing.”

She did not believe measures such as reinstating the LVRs would have much impact on the top end of the market, where a lot of the agency’s business lies.

“If you’ve got investors in this sector assembling a portfolio of luxury properties, they’re likely to be cashed up buyers,” she said. “What I do recommend to everyone I deal with is doing careful preparation. It’s frustrating to find the perfect property — with lots of competition from other buyers and you haven’t got your ducks in a row at the bank yet. In a market like this you need to act fast!”

23 Te Heipora Place, Havelock North.

Four-bedroom modern home was marketed by Connie Cawood, of Ray White Hastings. Sale price $515,000 above 2019 rating valuation.

$1.3m

45 Simla Ave, Havelock North.

1960s-build four-bedroom home home renovated to a high standard was marketed by Gretchen Paape of Bayleys, Havelock North. Sale price $290,000 above 2019 rating valuation.

OneRoof.co.nz

SELL WITH THE NO.1 IN HAWKE’S BAY

*

With many accolades to her name, including highest residential sale in Napier, Jacqui is the premium property specialist in Hawke’s Bay. Contact Jacqui for an appraisal of your property today.

M +64 27 238 7759 | jacqui.taylor@nzsir.com

NO

3

NATIONAL

Top Performer NZSIR 2020

* New Zealand Sotheby’s International Realty Top Sales Associate Hawke’s Bay 2020. Each franchise is independently owned and operated. SHB Limited (licensed under the REAA 2008) MREINZ.

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15

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AVERAGE REAL ESTATE EXPERIENCE OF NZSIR AGENTS

NEW ZEALAND ANNUAL SALES

YEARS

BILLION

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NET PROMOTER CUSTOMER SATISFACTION RATING*

Experience More.

When you list with New Zealand Sotheby’s International Realty you have the benefit of experienced real estate professionals of the highest calibre, collaborating in a national and international network, to achieve more for you.

To experience more, call for an appraisal of your property today.

157 Marine Parade, Napier | +64 6 835 8399 9 Napier Road, Havelock North | +64 6 877 8199 nzsothebysrealty.com | sothebysrealty.com Each office is independently owned and operated. SHB Limited (licensed under the REAA 2008) MREINZ.