OneRoof Hawkes Bay Property Report - August 2020

Monday, August 3, 2020

PROPERTY REPORT

Real estate experts on the challenges ahead

Latest valuations for every suburb in New Zealand

Page 8

Pages 11-20

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COMMENT

Owen Vaughan Note from the editor

I

’m not going to lie: at the start of the Covid-19 crisis my gut feeling was house prices would fall. I wasn't the only one to think this, but the market went zig instead of zag and came out of lockdown stronger than expected.

Across the country, agents report crowds at open homes, and a surge in enquiry from first home buyers. And a quick glance at auction results shows buyers are willing to stretch themselves.

Buoyed by low interest rates, they have emerged from the Covid crisis thinking, ”Well the market didn’t crash so I'm going to get a first home or a better home no matter what.”

But does that mean the market is deluding itself, given that mortgage holidays and wage subsidies are ending soon?

Many of the factors supporting value levels remain in place, so a major downturn is unlikely but confidence levels could change.

That's why the right data is important. Our new OneRoof-Valocity Covid Index indicates where the market is strong and where it is under pressure, and will help Kiwis make the best property decisions in the months ahead.

Inside Cover story Ashley Church Industry view Suburb values Reno time Suburb focus

3-5 6 8-9 11-20 21 22-23

Where does the housing market go from here?

Four reasons why house prices in New Zealand didn't collapsed in the wake of a devastating pandemic.

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“Given the long-term damage Covid-19 has and will cause, I am not yet willing to deliver the headline ‘Economist says house price falls are over’.”

hen something big and bad comes along, our natural instinct is to run and hide until it passes by. We can’t help it. So, I think we can all be forgiven for adopting some fairly negative views on the housing market when we learned about Covid19 and what it would take to stop its spread in our community.

It was common back in February and March to see forecasts that average New Zealand house prices would fall 10 to 15 per cent, with some punters who have got their price forecasts wrong every cycle and shock, picking declines of 20 per cent.

My personal pick was for an average price decline of 5 to 10 per cent. But even this optimistic view — based on things like listings shortages, falling construction, sustained low interest rates, and most unemployed not owning houses – has so far proved too pessimistic.

If we take as our starting point the three months running into February, then we see that for the month of June, average house prices around New Zealand were up 1.2 per cent from that period. Or, if you’re of the pessimistic bent, you can say that June prices on average were down 1.2 per cent from the month of March (which was up 9.1 per cent from a year earlier).

I can produce data “proving” prices are both rising and falling. But I’m going to mash all these things together and say this. Across New Zealand, while the previous pace of increase in prices of about 2 per cent every three months has gone, prices on average are now flat. In Auckland, price rises the

Tony Alexander past year were averaging 1.6 per cent a quarter, and they are now flat. Outside Auckland, price rises were averaging 2.4 per cent a quarter, and they also are flat.

Could it be that the price falls so widely predicted have simply been delayed? Those who believe this commonly cite these factors. ● Mortgage holidays end in September for some borrowers. ● Wage subsidies end by September and this will likely lead to more unemployment. ● There is a risk (shown by Victoria) of a second wave. ● The effects of near-zero net monthly migration will begin biting. ● Hopes of an early transtasman bubble have been dashed.

● Banks will soon be having hard conversations and forcing business closures and mortgagee sales.

I agree with all these factors.

But there are some big ones offsetting them which in all probability will continue to dominate as they have already done so far. Here are the main ones, though I could easily list several times more.

1. Owner-occupiers are choosing to upgrade their existing house rather than trade it for a new one. This will suppress listings and keep buyers scrambling for whatever may come on the market.

2. Statistics NZ originally told us that in the year to November 2019 the next migration gain was 42,000. So, at the start of this year we analysts figured maybe a 40,000 gain would optimistically occur this year, giving a full two calendar-year gain of about 80,000 people. The net estimated flow for the 12 months to November is now put at 64,000, and the net gain since then has been another 41,000 over the six months to

Auckland International Airport in March, before the border was shut to non-residents and citizens. Photo / Alex Burton

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May. If the net gain for the rest of the year is zero, the two-year gain will be 105,000. Covid-19 has so far boosted our net migration gain and housing demand, not reduced it.

3. This recession is not a normal one which involves intense weakness in manufacturing and/or farming and construction. It is largely happening in the services sector, peopled by employees who are young, on variable incomes, earning lowish wages — and not owning houses.

4. Confidence about interest rates remaining low is likely even more intense now than four months ago. This doesn’t just mean low mortgage financing costs. It also means continuing low (and still falling) term deposit rates which will encourage more investors to seek other assets like property — which is exactly the intention of the Reserve Bank in printing money.

Given the long-term damage which our fight against Covid19 has and will cause, I am not yet willing to deliver the headline “Economist says house price falls are over”. But I find myself saying exactly the same thing now as I was saying from the second half of 2009 following the Global Financial Crisis.

If anyone looking to purchase a property were to ask me whether they should act now or wait for potential price falls, my response will be, as it was back then, I see no good reason for waiting and would be looking for a property now.

After all, if we have flat house prices now with banks making getting a mortgage the hardest any of us have seen since 1984, imagine what will happen when they revert to more normal lending practices.

- Tony Alexander is an economics commentator and a former chief economist at BNZ.

COVER STORY

HEALTH CHECK The spread of Covid-19 brought unprecedented change to the housing market. But after lockdown, buyers and sellers defied the forecasts of doom, and real estate came to life again. JAMES WILSON tracks an unpredictable market

W

hen the last Oneroof Property Report came out, at the start of March, few would have guessed that the housing market was a few short weeks away from a total shutdown.

Back then there was momentum in the market and economists were predicting house prices would rise. But by the end of March, the momentum was lost and experts feared the worst, forecasting price falls of 10 to 20 percent.

The word “unprecedented” has been used a lot to describe the Covid-19 crisis. Cliche or not, it's a word that aptly sums up the impact of the lockdown

period. Never before in New Zealand's history had the property market and the framework that supports it been shut down.

While it’s too early to tell what the full impact of Covid-19 will be on the housing market, we do know it’s more important than ever to focus on the collation, analysis and correct application of available data to ensure that any decisions made are from an informed position.

Conversely, the risk of relying on misleading or incomplete data, or data that may be biased towards a particular outcome, has never been greater.

Before we dive into the data, let’s take a look at how the market performed once the

Alert Level Four lockdown came into force on March 26, and in the weeks after restrictions were eased and the country returned to normal.

1. Sales volumes drop: Confidence is king when it comes to the housing market, and sales volumes for April were well down on the same period last year. Much of this can be attributed to lockdown restrictions such as no open homes, no valuations, and no physical auctions — although in the initial weeks of lockdown, there was a lot of uncertainty which fed into predictions of house price falls and a severe economic recession.

2. Vendors sit on the sidelines: Listing numbers as

“The risk of relying on misleading or incomplete data, or data that may be biased towards a particular outcome, has never been greater.”

the country moved out of lockdown in May were down on the same period last year, as homeowners took a wait-and see approach to the market. This in turn creates heightened demand for the stock that does come to market.

3. Interest rates cut: One of the immediate responses to Covid-19 was a cut to the Official Cash Rate, which most high street banks passed on to customers. This reduction allowed those who were already looking to buy before lockdown to stretch themselves.

4. Pent-up demand: The drop in new listings and low interest rates, combined with Continued on page 4

COVER STORY pent-up demand, lead to a quick change in the market.

Buyer activity picked up, and properties started selling at prelockdown prices. Value levels across much of the country have bounced back, but some locations — such as Queenstown — and property types, particularly apartments, are exposed.

5. Vendors return (but slowly): Listings numbers for June and July strengthened as vendors returned to the market in an attempt to capitalise on rising prices. However, anecdotal evidence from agents and listing numbers show demand outstripping supply.

6. Back to normal: Lately, market participants in some locations have revealed a return to normality in the sense that some of the “fear” of what may happen to the housing market has gone away, with prices reflecting a demand for wellpresented housing stock.

The OneRoof-Valocity Covid Index When we look at the housing market using traditional methodology, we run the risk of misinterpreting what's going on in the market. According to latest OneRoof Valocity figures, every territorial authority, bar three, saw a 12-month rise in its median property value, with 33 recording double-digit increases. But the increases are more a reflection of the fact these locations had experienced significant value growth in the six months before lockdown.

To accurately measure the market since start of the Covid19 crisis, OneRoof and Valocity have created an index that covers a range of different metrics. By breaking down what’s been selling together with the nature of the housing stock in any given location, we can track the actual changes in individual submarkets more effectively.

The OneRoof-Valocity index has applied a baseline figure to property values in every region and territorial authority in New Zealand (where possible the index has been applied at suburb level). Property values on March 25, 2020, the day before the country went into lockdown, are set at 1000 on the index. Every sale since that date has been analysed and a value applied, which has then been tracked in accordance with the baseline value, allowing subtle changes in the market to be measured.

The index shows the impact of the lockdown and how property values have changed since the country returned to normal trading conditions. You can also begin to see the disparity (and danger) of relying solely upon the traditional 12-month value level movement. For example, the median value in Dunedin rose 19.8 per cent in the last 12 months. However, on the index Dunedin house values have slipped 2.5 per cent.

What do the numbers show?

The housing market had been gathering steam in the months before Covid-19 struck, driven by strong growth in the regions and a resurgent Auckland market. Since lockdown the market has been subdued but positive, up 0.5 per cent on the index.

At a regional level, value growth since March 25 has been a mixed bag. In the 12 months leading to into lockdown, the index reveals that seven of New Zealand 16 regions experienced double-digit value growth, with Gisborne out in front with a more than 25 per cent increase.

Post-lockdown, the rate of growth has stalled across the board, with no region experiencing more than 4 per cent growth since lockdown (Manawatu-Whanganui is the top performer with 3.77 per cent growth).

Five regions have seen a drop in values on the index — Otago, Northland, West Coast, Nelson and Wellington. The largest decrease is in Otago, which is down 3.42 per cent, driven by the softening of values in Queenstown Lakes.

When the index is run at a Territorial Authority level we begin to see more variation: of the 72 TAs monitored, 24 are now showing value declines since lockdown, the top five largest being QueenstownLakes (-7.7 per cent), ThamesCoromandel (-4.8 per cent), Whangarei (-3.2 per cent), Dunedin (-2.5 per cent) and Kapiti Coast (-1.9 per cent).

The best performing housing markets in the 12 months before March 25 — Gisborne, Dunedin, Whanganui, Horowhenua and Rangitikei, all of which saw growth of between 19 and 26 per cent — have stalled postlockdown, and in Dunedin's case slid.

The TAs that were running hot pre-Covid were generally lower value locations targeted by investors, who have largely adopted a wait-and-see mentality, easing some of the hype and demand in these locations.

performance of New Zealand’s main urban metros on the index, the numbers are slightly more positive, with four out of the seven registering values lifts post-lockdown — Hamilton (up 1.86 per cent), Tauranga (+1.22 per cent), Wellington (+1.05 per cent), and Christchurch (+0.47 per cent).

Despite an overall dip, there is positivity in Auckland's submarkets, with Franklin up 0.42 per cent and Papakura up 2.04 per cent and Auckland City climbing back to where it was on March 25.

While there is significant variation in the performance of certain property types in each of these locations (Auckland Central's apartment market is exposed to significant volatility), the major metros are in a stronger position than smaller regional housing markets as they tend to have more employment opportunities and more buyers who are purchasing for the long-term utility rather than short-term capital growth. In fact, the slide in QueenstownLakes and Dunedin reinforces this hypothesis as both were hot investor markets pre-Covid-19 and Queenstown-Lakes’ position as an employment centre has suffered from the closure of our borders.

Northland

-2.1%

comparing the rate growth on the index in the 12 months before lockdown to the rate of growth post-lockdown, we can see the upper price band ($2m-plus) has been impacted the most by Covid-19. While sales volumes in this band are still very low, the downward trend is similar to one

Auckland

that emerged post-GFC, when higher value housing stock was the first to respond to changing market conditions, with buyers in this bracket more influenced by international market conditions than others.

The second largest change to the rate of growth lies in the $0-$500,000 price bracket, where there is a high percentage of investors. The slide may be further evidence of the waitand-see mentality taking hold in this buyer group.

- James Wilson is director of valuation and innovation at OneRoof's data partner, Valocity.

0%

Waikato

Bay of Plenty

1.3%

1.4%

Gisborne

1.9%

Taranaki

Hawke’s Bay

0.1%

2.3%

ManawatuWhanganui

3.8%

Nelson

-0.7%

Price bands There are also differences in performance across the different price bands. By

Tasman

1.5%

Marlborough

0.6%

-0.1%

The different colours on the map express the change in house values on the OneRoof Valocity Covid Index in the three months after March 25 for each region in New Zealand.

West Coast

-1.5%

-3% -2% -1% 0% 1% 2% 3%

What the map tells you

Wellington

Price movement Price bracket

Canterbury

0.6%

The major metros When we look into the

$0-500k $500k-$1m $1m-$1.5m $1.5m-$2m $2m+

Change on index in 12 mths three mths before lockdown 10% 8% 8% 8% 4%

1% 1% 0% -1% -8%

Change in rate of growth between two periods -9% -7% -8% -9% -12%

House price values and sales volumes Region

Otago

-3.4% Southland

0.2%

Current median value All New Zealand $650,000 Auckland $920,000 Bay Of Plenty $645,000 Canterbury $470,000 Gisborne $430,000 Hawkes Bay $535,000 Manawatu-Wanganui $420,000 Marlborough $470,000 Nelson $590,000 Northland $550,000 Otago $550,000 Southland $350,000 Taranaki $435,000 Tasman $660,000 Waikato $605,000 Wellington $700,000 West Coast $240,000

12-month change + 7.4% + 4.5% + 6.6% + 4.4% + 17.8% + 12.6% + 18.3% + 5.6% + 5.4% + 6.8% + 12.2% + 20.7% + 10.1% + 8.2% + 8.0% + 9.4% + 6.7%

Number of sales in six months since Jan 2020 to Dec 31, 2019 24,411 46,506 6,421 12,940 1,535 3,251 3,771 7,095 223 399 950 1,683 1,637 2,822 368 619 299 557 929 1,803 1,182 2,246 704 1,289 769 1,218 312 602 2,383 5,200 2,683 4,428 245 354

Change -47.5% -50.4% -52.8% -46.8% -44.1% -43.6% -42.0% -40.5% -46.3% -48.5% -47.4% -45.4% -36.9% -48.2% -54.2% -39.4% -30.8%

HOW COVID-19 HIT THE HOUSING MARKET The index measures value change since March 25, with the baseline set at 1000 for every region

1000

INDEX

When Covid-19 hit, the market stepped back and took stock. After the level 4 lockdown ended, the city rode a growing wave of pent-up demand, with transactions rising to pre-lockdown levels. Overall, the Auckland market is flat, although some parts of the city have dipped.

980

Territorial authority

960

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

940 920 900

Alert levels LOCKDOWN

Mar 23

940 920

Alert levels LOCKDOWN

1

Jul 6

INDEX

980 960 940 920 900

Alert levels LOCKDOWN

Mar 23

3

2

1

Jul 6

1020

INDEX

1000

980 960 940 920 900

Alert levels LOCKDOWN

Mar 23

3

2

1

Jul 6

1020

INDEX

1000

980 960 940 920 900

Alert levels LOCKDOWN

Mar 23

3

2

1

Jul 6

1020

QUEENSTOWN

INDEX

1000

980 960 940 920 900

Alert levels LOCKDOWN

Mar 23

3

2

1

Jul 6

1020

DUNEDIN

1000

INDEX

Dunedin came into lockdown hot, but it was a market driven heavily by investors, a buyer group that has retreated. First home buyers have not stepped in to fill the gap as much as in other locations so we’ve seen since a softening of values post Covid. It’s too early to tell how long this may last.

2

1000

CHRISTCHURCH

Queenstown has seen the largest decline post-lockdown. The fear factor is prevalent among a lot of buyer groups and there has been a massive drop off in high value transactions. The data points to potential volatility ahead - there’s a high share of vacant sites.

3

1020

WELLINGTON

Christchurch went into lockdown flat and has come out flat. It’s not a market dominated by any particular buyer group but that doesn’t preclude change, especially if other pressures come into play, such as unemployment or a secondary outbreak of the coronavirus.

Jul 6

960

900

TAURANGA

Wellington is a public sector town and this quality has protected it from the volatility seen in other housing markets. Low listing numbers and sustained buyer demand have driven its bounceback from the depths of the complete market shutdown during the lockdown.

1

980

Mar 23

Tauranga has a lot of sub-market variation. In places like Mt Maunganui, where the higher end holiday home market is prevalent, values are soft. But overall, the market, which is supported by a lot of first home buyer stock, is back in positive territory.

2

1000

INDEX

There’s a lot of caution in Hamilton, with investors, who were really active pre-Covid, now sitting on the sidelines. First home buyers have plugged that gap. In the last couple of months value growth has been positive, although small.

3

1020

HAMILTON

Where house values landed post-Covid-19.

The OneRoof-Valocity Covid index measures the change in median values since March 25, the day before the country went into lockdown. TAs ranked according to size of percentage change

1020

AUCKLAND

WINNERS AND LOSERS

980 960 940 920 900

Alert levels LOCKDOWN

Mar 23

3

2

1

Jul 6

Value change on the index since March 25

4.1% 3.9% 3.8% 3.7% 3.0% 2.9% 2.8% 2.6% 2.6% 2.3% 2.2% 2.2% 2.1% 2% 2% 1.9% 1.9% 1.9% 1.7% 1.5% 1.5% 1.4% 1.4% 1.3% 1.3% 1.2% 1.1% 1.1% 1.1% 1% 1% 0.9% 0.8% 0.7% 0.6% 0.6% 0.6% 0.6% 0.6% 0.5% 0.5% 0.4% 0.2% 0.1% 0.1% 0.1% 0 0 0 0 -0.1% -0.1% -0.2% -0.2% -0.2% -0.2% -0.3% -0.4% -0.5% -0.6% -0.7% -0.7% -0.9% -1.1% -1.2% -1.5% -1.7% -1.9% -2.5% -3.2% -4.8% -7.7%

* * ** * ** * ** * *

* * * ** ** ** ** * *

* * * ** ** ** * * ** * * * * * * * *

* ** *

*

* Denotes low sales volumes ** Index figure for region given as sales volumes too small to measure change with accuracy

COMMENT

Ashley Church

O

ne of my great passions is the discovery of meaningful patterns in New Zealand property data. It’s a passion borne of my view that the numbers always tell the real story and it’s a pursuit to which I’ve devoted significant time in recent years in an effort to better understand the market and why it does the things that it does.

In many cases, this research throws up results which are at odds with the prevailing narrative of the day. Examples of this would be the discovery that foreign buyers actually made very little difference to house prices prior to the introduction of the foreign buyers ban in 2018, that “ghost homes” make virtually no difference to house prices, that the Reserve Bank’s loan-tovalue-ratio restrictions did not bring down house prices or stabilise the property market, that property investors do not push house prices up and that New Zealand has never led the world in home ownership – despite beliefs that held sway at one time or other but which ultimately proved to be untrue under the glare of market data.

Will the election cool the housing market?

In the past Kiwis have put buying and selling decisions on hold until after polling day.

Of course, not all views are debunked. Sometimes research actually confirms strongly held views. This is certainly the case in respect of the belief that house prices broadly double in some parts of New Zealand every ten or eleven years and have done so every decade over the past four decades. It’s also true of the belief that the New Zealand property market doesn’t crash – or, at least that it hasn’t done so in almost forty five years according to the firmly established data.

But what of the view that the property market cools in election years – particularly in the months leading up to the election? This phenomenon was certainly at play in the months leading up to the 2014 and 2017 elections according to data prepared by OneRoof data partner Valocity in 2017, which showed that between the announcement of the date of the election in March 2014 and the election in September of that year there was an average drop in sales of 23 percent per month in Auckland – followed by an immediate recovery to previous levels, post-election.

The same trend was once

again in play in the lead up to the September election in 2017.

In the 12 months between July 2016 and July 2017 sales volumes across the country were down by 55.4 percent (4,229 properties) – with the majority of that drop taking place after the election date was announced in February of that year.

Precisely why property markets should flatten in the months prior to an election is a matter of some debate – but, in my view, it’s largely the result of uncertainty around the

outcome of the election – particularly where a party is proposing a policy or policies which are radically at odds with the status quo. This uncertainty feeds into market confidence and causes punters to put their plans on hold until after the election.

But has this phenomenon been playing out again in the months leading up to the September election?

No – and for very good reason. Covid-19 has completely changed the ‘normal’ dynamic of the market

The Beehive in Wellington: will there be poll upsets this year?

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in 2020, in two ways. Firstly, the lockdown period effectively froze the market, in time, for almost two months rendering any data which covers that period meaningless and made any comparison with previous election years pointless.

Secondly, an unusual spike in house sales activity which started late last year and was still evident prior to Covid-19 has meant that demand has outstripped supply in many regions of the country. This means that low sales volumes can’t be reliably read as a reflection of market confidence when they could just as likely be due to the limited stock available for purchase.

For all of these reasons, and as with most other areas of the economy, Covid-19 has altered the ‘usual’ landscape and changed the rules which would normally apply.

What we do know is that, in 2011, 2014 and 2017, the market took off again after the elections in those years. Whether that will happen this time is far from certain.

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

Email him at ashley@nzemail.com

Bedpost …. more than just a bed store

B

edpost at 44 Dickens Street, Napier is the shop that you must definitely put on top of the list when looking for your next bed …but not only beds as there are plenty of related products to browse.

Mike White has been the owner of Bedpost in the Bay for the last 14 years, although he started in the bedding industry way back in 1989. Therefore Mike has an abundance of knowledge regarding the bed market and will pass on that knowledge to you. This will enable you to make an informed decision and also select the correct bed to suit your needs.

“I can only imagine how hard it would be not knowing anything about beds and going out to spend what seems an large amount of money for something that is so important as a bed. Actually you spend almost the best part of 26 years of your life in a bed, so why wouldn’t you go to the place that has the most comprehensive range of options along with the best knowledge,” Mike says.

Mike is also proud to stock a variety of bedroom furniture, along with an exceptional range of pillows and luxury linen.

Here you can browse everything from pine to New Zealand solid Rimu frames and furniture, and great quality beds and mattress brand. Much of the stock is made in New Zealand which allows your purchase to be custom made to suit your needs if necessary.

After talking to Mike for a while you will soon realise that he is passionate about his business and he’s always focused on the current trends bearing in mind the needs and wants of each and every client.

There’s an excellent range of beds to choose from and each can be demonstrated by Mike and you can do a “sleep test.”

He’s proud of the huge range of beds on offer including some of the leading brands in the world such as Tempur, Sealy Posturepedic , Design Mobel, Dreamwool, Beautyrest, SleepMaker and Soundasleep, to name but a few.

“People ask …why do you have so many different beds in

store? It’s simple really…not everyone’s the same!”

“If you’re struggling for a good night’s sleep I may well have the perfect solution - Tempur! These mattresses provide outstanding comfort and support for a feeling of instant relaxation. They’re selling really quickly at the moment and the feedback from my clients has been amazing. Many say they will never go back to a conventional bed. Come and try one, you’ll be delighted with the quality and comfort.”

After sales service is second to none and you don’t need to worry about delivery or set up as it’s all taken care of either

by Mike himself, or his son Justin along with Danielle.

There’s no need to worry about disposing of your old mattress either. Taking an old bed away is no problem and most are donated to Habitat for Humanity.

In regards to doing deals not only does Mike have fantastic deals that are structured through Bedpost New Zealand but Mike works closely with his suppliers representatives and it’s not unusual for him to come up with some crazy, one off deals. “I would far have customers spend their money with me than with others,” he says.

So make sure that when you are in the market for a new bed, bedroom furniture, pillows and linen that you pop in to see Mike at Bedpost.

For the right bed at the right price see Mike, the Bay’s bedding specialist.

Bedpost is centrally located in Napier at 44 Dickens Street, just next to the Westpac Bank and there’s plenty of parking nearby.

ABOUT BEDPOST Bedpost has been helping Kiwi’s get a good night’s sleep since 1991.You’ll find Bedpost stores up and down New Zealand with friendly local staff ready to help you.

44 Dickens Street, Napier 4110 Phone: 06-211 3971

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INDUSTRY VIEW

HOME TRUTHS

Real estate leaders around the country are cautiously optimistic, though there are still many challenges ahead. CATHERINE MASTERS reports

O

neRoof polled the country’s real estate leaders and agents on the challenges the industry faced during and after the lockdown and asked them what they thought the long-term impact of Covid-19 would be. Their answers shed light on what was a unprecedented time for real estate and provide buyers and sellers an idea of where the housing market might head in spring and summer.

Many agents missed the faceto-face contact with clients and colleagues through April and much of May, but took advantage of the time to learn new technology tricks. When lockdown lifted they were back at it like never before.

While predicting the future is always uncertain, one branch head says there could be job losses ahead. “I’ve seen it during the GFC, that we will most likely lose a few thousand sales people that have been carried by the recent market conditions,” says Ritesh Verma, branch manager at Property Brokers in Whanganui.

But agents that look after their database will survive and some will even flourish.

Verma believes the outlook for Whanganui’s housing market — one of the hottest before Covid-19 struck — is positive; the town’s economy is not reliant on tourist spending, he says, and stock levels and buying activity are strong, with houses fetching solid prices.

Like many agents who responded to OneRoof’s questions, he worries about doom-laden predictions having a negative effect on the market.

“I fear if everyone watches the news and gets on the bandwagon about a market crash we will talk ourselves into one,” he says.

“We are ever the optimist, of course, but naive we are not, so our agents are working harder and smarter, saving more, and generally knuckling down.”

Crystal ball gazing John Bartley, managing director of Bayleys Whanganui, says his team also took the opportunity lockdown provided to regroup, learn and plan.

Included in that was a promotion offering free advertising and financial support for homeowners needing to sell their property.

“We knew there were some homeowners in our community doing it tough and the promotion provided some practical help and breathing space,” Bartley says.

He too is upbeat about the market: “I think Whanganui real estate is in a good place with lots of new listings and interest. With the added benefit of low interest rates, things are looking buoyant. We continue to get enquiries from the larger centres and I believe that more than ever, regional New Zealand is becoming a more attractive place to live.”

While uncertainty around

jobs, the election and the pandemic could put downward pressure on house prices, Harcourts agent Sue Ellis and Philippa Ivory, general manager of Ray White Whanganui, believe the fundamentals of the town’s property market are strong.

Whanganui, Ellis says, offers buyers quality lifestyle and good-value homes, and what happens in the future is just crystal ball gazing. Ivory adds: “Whanganui has a strong manufacturing and rural economic base, great weather and several significant sporting and cultural events planned.

“With the influx of government investment into ‘shovel-ready’ projects, job prospects look okay, and so does the housing market.”

Confidence and concerns Heath Young, chief operating officer of Realty Services which covers Bayleys and Eves in the Waikato, Bay of Plenty and Taranaki, says the lockdown was challenging because real estate is a contact sport.

“Our business is built on forming great relationships with our vendors, buyers, landlords and tenants, so not being able to host viewings, do face-to-face meetings or operate normally was challenging,” he says.

Young expects the pandemic will have a lasting impact on markets or asset classes that are reliant on tourism, or migration.

Transacting, he says, relies on confidence and demand, and supply factors such as regional migration, job security and bank lending conditions.

“Job security is the big unknown in terms of impact but as with previous financial shocks to the market, which are the only comparisons available to an event such as a global pandemic, the market does in time recover. It’s more a question of the length of time this recovery will take.”

Letterbox Realty agent Tracy Beaufill says the Rotorua market remains as hot now as it was before the pandemic struck.

She believes the lockdown has seen the industry embrace innovative practices that have improved the buying and selling process.

“Contracts don’t have to be signed face-to-face with agents, and [there is now] more online communication. There was no paper advertising during lockdown, however, people continued to look at property online,” she says.

Shona Duncan, principal of New Zealand Sotheby’s International Realty in Rotorua, says the market’s recovery was quicker than many expected, but while sale prices are up, sales volumes are down, although recent results are encouraging.

Simon Martin, managing director of Harcourts in Tauranga, agrees that the dearth of stock is a concern. “Heading into the Covid-19 lockdown listings were already at record lows compared to previous

years and this is still the situation now,” he says.

But interest rates are at an alltime low, LVR restrictions have eased, and the large number of New Zealanders coming home will need somewhere to live.

“The way New Zealand has dealt with the Covid situation must give confidence to the market,” he says.

Simon Tremain, managing director of Tremain Real Estate, says while the fall-out from Covid-19 is yet to be seen in Hawke’s Bay, any negative impact will be short-lived.

“New Zealand has weathered the storm exceptionally well and providing people have jobs, our economy will continue to thrive,” he says.

Property will always remain the number one investment for New Zealanders, he says. “The regional spread of our population and the housing shortage in both ownership, rental and emergency housing is real. These facts add up to one thing — further demand and growth in the housing market.”

Rhythm disrupted Joe Snee, regional manager for Property Brokers in Hawke’s Bay and Gisborne, says the speed at which the lockdown came into effect presented challenges. The situation was difficult to navigate, he says, and throwing in the legislative changes to the rental market meant information was constantly changing.

“Yes, it impacted the business rhythm but more importantly it challenged the mental resilience of our teams and it illustrated just how strong our people are.”

The impact of the crisis is uncertain, Snee says. “I field a lot of questions about the lasting impacts of Covid on the real estate market. In my opinion, with a global pandemic of this magnitude, it wouldn’t be right to think it will not have an impact on our local market.

“However, to what degree is another question, and I remain positive about the market. With record low cash rates, uncertainty in financial markets, and a number of people repatriating back to New Zealand I am confident the market will show some resilience.”

As for the coming months, the goal posts are changing and there’s an election around the corner. There is the potential for legislative change, tighter regulations and then, as always,

“The way New Zealand has dealt with Covid must give confidence to the market.”

Agents report that demand is outstripping supply in key markets.

the unknown of the local economic performance.

“These are all aspects that we will keep a close eye on moving forward, However, all we can do is control what we can control as a company, and to us that is continuing to provide high levels of service to our clients and ensure we do the best by them.”

In Northland, agents report challenges around supply and demand. Tony Grindle, general manager for Bayleys Northland, says the market has lots of qualified, cashed-up buyers competing for a dwindling supply of stock.

The lack of sales over April and May did have an impact but, “We are learning to not stress about things outside of our control — better to take advantage of the opportunities presented,” Grindle says.

He says the real impact on real estate in the region may be felt around increased demand for protein and the supply of New Zealand-grown agri product to a market offshore unable to meet their own domestic demand.

“Northland is well positioned to leverage our agricultural and horticultural industries. In residential, I don’t consider the Covid hangover to be significant. Central government had effectively already stopped offshore buyers and returning Kiwis may provide an additional buyer source.”

September the month to watch Prolonged border closures and new community outbreaks are concerns but, “Once again, if we accept the mantra of only worrying about those things we can control, we don’t have any fears”, Grindle says.

There may be challenges around capital and adversity to risk, but Northland is in a strong position. “Pre-Covid, immigration was increasing faster than any other province,

employment was at the highest level and we were benefiting from our position on Auckland’s boundary.”

Paul Beazley, general manager of Eves Whangarei, says prices have remained at February and March levels, and while sales numbers are down, that is to be expected. “We may see the impact on price once mortgage deferments are finished, subsidies are at an end and the effect of unemployment levels come home to roost, which is likely to be felt in the spring,” he says.

“There may be some forced sales, but I don’t think we’ll see too many stressed sales.”

Martin Dear, manager of Barfoot & Thompson Whangarei, says business has returned to pre-Covid levels, with first-home buyers, investors and expats showing interest in the region.

“There have been predictions of lower prices but we have not seen evidence of a market slowdown. Northland is a region of choice and the lockdown has allowed people to refocus on their future. I think we will continue to see demand and development and this will drive growth in the market.”

Mike Beazley, business owner of Harcourts Whangarei, says the end of the wage subsidy and mortgage deferral schemes “could put real pressure on some owners as to whether they can continue with their mortgages”.

“Presently the demand for good property is exceeding the supply. However, it would not be unreasonable to say there could be an easing of prices in the coming months.”

He adds: “The market has not dropped to the depths many feared and the recovery is faster than we saw after the GFC in 2008. The data to date indicates that it is much better than many expected and while there is real reason for optimism, September will be the month to watch.”

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HOUSE PRI CE INDEX

Is your suburb rising or falling?

T

he OneRoof Property Report suburb valuation tables, powered by Valocity, use an automated valuation model (AVM) to provide the latest values for every suburb in New Zealand. The AVM takes into account recorded property a!ributes and historical market property sales data to estimate the value of every residential property in a suburb. The model is intended What the tables tell you The tables show the latest median value for every suburb in New Zealand, arranged by region from north to south (towns and districts within those regions are shown in alphabetical order).The median value gives an indication of what buyers could typically expect to pay for a property in that suburb.

The tables also measure the change in median value in the last 12 months and give the dollar figure of the suburb’s highest settled sale since the start of the year.

The OneRoof-Valocity Covid

LOCATION

LATEST MEDIAN $ VALUE

to provide an estimate of value at the date it was run. ● Hold your phone camera over the code to find out more information about your suburb and how it compares to the rest of New Zealand. index measures the change in median values since March 25, the day before the country went into lockdown.Together, these figures are a good indication of demand for property in the suburb and whether it is a good place in which to buy.

Figures marked in ORANGE on the Covid Index column denote value change at a suburb level. Where sales volumes are too small to measure with accuracy change on the Covid Index at a suburb level we have given the index figure for the Territorial Authority.

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

NORTHLAND FAR NORTH AHIPARA AWANUI AWARUA BROADWOOD CABLE BAY COOPERS BEACH HARURU HEREKINO HIHI HOREKE HOUHORA KAEO KAIKOHE KAIMAUMAU KAINGAROA KAITAIA KARETU KARIKARI PENINSULA KAWAKAWA KERIKERI KOHUKOHU LAKE OHIA MANGAMUKA MANGONUI MAROMAKU MATAURI BAY MOEREWA MOTATAU NGATAKI NGAWHA SPRINGS OHAEAWAI OKAIHAU OKIATO OMANAIA OMAPERE OPONONI OPUA OPUA FOREST OROMAHOE OTAUA OUE PAEWHENUA ISLAND PAIHIA PAKARAKA PAPARORE PAREKURA BAY PERIA PUKENUI PUNAKITERE VALLEY RAWENE

$385,000 $150,000 $155,000 $190,000 $530,000 $527,500 $585,000 $260,000 $425,000 $217,500 $455,000 $500,000 $220,000 $180,000 $370,000 $280,000 $275,000 $475,000 $300,000 $720,000 $157,500 $450,000 $277,500 $500,000 $525,000 $450,000 $625,000 $260,000 $360,000 $415,000 $650,000 $475,000 $515,000 $185,000 $435,000 $380,000 $637,500 $480,000 $660,000 $260,000 $270,000 $900,000 $510,000 $680,000 $150,000 $1,042,500 $310,000 $450,000 $195,000 $340,000

2.67% -21.05% 24.00% 0.00% 11.58% 14.67% 5.41% 44.44% -9.09% 0.00% 9.64% 49.25% 18.92% -30.77% 10.45% 14.29% 0.00% 6.74% 5.26% 3.60% 0.00% -2.70% 141.30% 3.09% 23.53% -41.94% 290.63% 0.00% 24.14% 18.57% 1.56% -4.52% 10.75% -9.76% 10.13% 7.04% 3.66% 0.00% 12.34% -8.77% -3.57% -9.09% -0.97% 7.94% -54.55% 122.99% 14.81% 8.43% 5.41% 11.48%

$1,200,000 $645,000 N/A $350,000 $885,000 $827,500 $729,000 N/A $787,000 N/A $675,000 $1,650,000 $755,000 N/A N/A $630,000 N/A $610,000 $940,000 $1,946,000 $640,000 N/A N/A $760,000 $375,000 N/A $179,000 N/A N/A N/A $500,500 $660,000 $7,000,000 N/A $850,000 $147,000 $915,000 N/A $745,000 N/A N/A $1,000,000 $850,000 $725,000 N/A N/A $475,000 $410,000 N/A $520,000

-0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% 0.50% -0.20% -0.20% -0.20% -0.60% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% 0.00% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20%

LOCATION RAWHITI RUSSELL TAHEKE TAIPA TAKAHUE TAUPO BAY TAUTORO TE HAPUA TE KAO TE TII TOTARA NORTH TOWAI UMAWERA WAIHARARA WAIKARE WAIMA WAIMAMAKU WAIMATE NORTH WAIOMIO WAIPAPA WAIPAPAKAURI WHANGAROA WHIRINAKI KAIPARA ARANGA ARAPOHUE ARARUA ARATAPU AWAKINO POINT BAYLYS BEACH BRYNDERWYN DARGAVILLE DONNELLYS CROSSING HAKARU HOANGA KAIHU KAIWAKA MAHUTA MAMARANUI MANGAWHAI MANGAWHAI HEADS MARERETU MATAKOHE MAUNGATUROTO OMAMARI OMANA ORUAWHARO PAHI PAPAROA PARORE POUTO PUKEHUIA

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$1,090,000 $905,000 $262,500 $405,000 $395,000 $700,000 $345,000 $90,000 $217,500 $890,000 $525,000 $415,000 $390,000 $415,000 $1,020,000 $245,000 $270,000 $830,000 $535,000 $845,000 $330,000 $560,000 $220,000

51.92% 25.69% -0.94% -3.57% 22.48% 0.00% 0.00% 0.00% 50.00% 0.00% 26.51% 13.70% 0.00% 1.22% 0.00% -3.92% -3.57% 5.06% 0.00% 13.42% 43.48% -15.79% -7.37%

$600,000 $1,250,000 N/A $449,000 N/A $1,130,000 N/A N/A N/A N/A $475,000 N/A N/A N/A N/A N/A $368,000 N/A N/A $680,000 N/A $690,000 N/A

-0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20%

$350,000 $375,000 $525,000 $467,500 $565,000 $470,000 $665,000 $345,000 $345,000 $707,500 $360,000 $340,000 $550,000 $552,500 $345,000 $810,000 $815,000 $370,000 $417,500 $445,000 $395,000 $435,000 $662,500 $555,000 $485,000 $510,000 $370,000 $385,000

-17.65% -18.03% 0.00% -8.33% 15.31% 18.99% -6.34% 13.11% -5.48% -4.39% -12.20% 21.43% -16.03% 4.25% 2.22% -2.99% 4.49% -12.94% 5.70% -1.66% 14.49% 72.28% 20.45% -15.27% -7.62% 4.08% 32.14% 18.46%

N/A $410,000 N/A N/A $750,000 $420,000 N/A $897,000 N/A $635,000 N/A $298,000 $740,000 $430,000 N/A $1,500,000 $1,350,000 $322,500 N/A $620,000 $440,000 N/A N/A $687,000 $897,500 N/A $380,000 N/A

1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.10% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% -2.60% 0.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50%

LOCATION RUAWAI TAIPUHA TANGITERORIA TANGOWAHINE TE KOPURU TINOPAI TOPUNI TURIWIRI WAIPOUA WHAKAPIRAU WHANGAREI ABBEY CAVES AVENUES GLENBERVIE HELENA BAY HIKURANGI HORAHORA HUKERENUI KAMO KAURI KENSINGTON KIRIPAKA KOKOPU LANGS BEACH MANGAPAI MATA MATAPOURI MATARAU MAUNGAKARAMEA MAUNGATAPERE MAUNU MORNINGSIDE NGARARATUNUA NGUNGURU NUKUTAWHITI OAKLEIGH OAKURA ONE TREE POINT ONERAHI OPUAWHANGA OTAIKA OTANGAREI PAKOTAI PARAHAKI PARAKAO PARUA BAY PATAUA NORTH PATAUA SOUTH PIPIWAI POROTI PORT WHANGAREI PORTLAND PUNARUKU PURUA PUWERA RAUMANGA REGENT RIPONUI RIVERSIDE RUAKAKA RUATANGATA WEST SPRINGFIELD TAIHARURU TAKAHIWAI TAMATERAU TIKIPUNGA TITOKI TUTUKAKA WAIOTIRA WAIPU WHAKAPARA WHANANAKI WHANGAREI WHANGAREI HEADS WHANGARURU WHAREORA WHAU VALLEY WHEKI VALLEY WOODHILL

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$300,000 $485,000 $545,000 $460,000 $265,000 $385,000 $655,000 $450,000 $150,000 $605,000

13.21% -10.19% -1.36% 22.67% 32.50% 3.36% 10.08% -14.29% -9.09% 5.68%

$450,000 N/A $675,000 N/A $565,000 $413,000 N/A $391,395 N/A $725,000

1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50%

$777,500 $435,000 $837,500 $840,000 $380,000 $500,000 $505,000 $560,000 $815,000 $465,000 $650,000 $760,000 $1,550,000 $602,500 $632,500 $955,000 $770,000 $610,000 $810,000 $705,000 $430,000 $782,500 $755,000 $445,000 $610,000 $872,500 $765,000 $495,000 $565,000 $655,000 $255,000 $360,000 $555,000 $435,000 $775,000 $750,000 $815,000 $390,000 $752,500 $560,000 $422,500 $405,000 $587,500 $690,000 $380,000 $520,000 $475,000 $590,000 $640,000 $710,000 $570,000 $1,190,000 $595,000 $805,000 $440,000 $587,500 $815,000 $515,000 $850,000 $600,000 $807,500 $665,000 $770,000 $750,000 $915,000 $505,000 $635,000 $457,500

9.51% 4.82% -2.62% 10.53% 0.00% 6.38% -0.98% 5.66% 1.24% 0.00% -8.45% 7.04% 5.44% -1.23% -3.07% 6.70% 1.99% 4.27% 3.85% 2.92% 2.38% 1.62% -1.95% 12.66% -6.15% 17.91% 10.07% 6.45% -3.00% 5.65% 13.33% 18.03% 6.73% 24.29% 4.73% 11.94% 44.89% 11.43% 4.51% -8.94% 1.81% 1.25% 13.53% 0.00% 8.57% 6.12% 2.15% 8.26% 4.92% 4.41% -0.87% 39.18% -6.30% 0.31% 8.64% 26.34% -5.78% 12.57% 10.39% -3.23% 2.22% 5.56% 1.99% 10.29% 17.31% 9.78% 9.48% 2.81%

N/A $750,000 $965,000 N/A $519,000 $695,000 $690,000 $1,390,000 $690,000 $1,305,000 $760,000 $1,025,000 $1,850,000 $890,000 $680,000 $840,000 N/A $399,999 $1,255,000 $1,390,000 $475,000 $1,250,000 $1,020,000 N/A N/A $774,000 $1,210,000 $990,000 $905,000 $775,000 $390,000 N/A $800,000 $546,500 $2,125,000 N/A $650,000 N/A $1,350,000 $605,000 $325,000 N/A N/A $690,000 $635,000 $735,000 N/A $700,000 $1,300,000 $890,000 N/A N/A N/A $1,260,000 $755,000 $550,000 $1,400,000 $599,500 $1,800,000 $555,000 $780,000 N/A $800,000 $1,180,000 $778,000 $953,000 $650,000 $647,000

-3.20% 2.80% -3.20% -3.20% -3.20% -3.20% -3.20% 0.50% -3.20% 7.90% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% 0.50% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% 0.00% 4.50% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -2.90% -3.20% -3.20% -3.20% -1.90% 0.40% -3.20% -3.20% -3.20% -3.20% -0.30% -3.20% -3.20% -3.20% 0.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.20% -3.70% -3.20% -3.20%

$490,000 $840,000 $975,000 $630,000 $1,065,000 $1,755,000 $1,180,000

10.11% 4.35% 5.98% 4.13% 8.12% 5.09% 4.42%

$2,020,000 $1,590,000 $1,481,000 $1,195,000 $1,925,000 $4,900,000 $6,000,000

-7.50% -3.30% 9.80% 0.00% -1.70% -2.50% -0.80%

GREATER AUCKLAND AUCKLAND — CITY AUCKLAND CENTRAL AVONDALE BLOCKHOUSE BAY EDEN TERRACE ELLERSLIE EPSOM FREEMANS BAY

LOCATION

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

GLEN INNES GLENDOWIE GRAFTON GREAT BARRIER ISLAND (AOTEA IS) GREENLANE GREY LYNN HERNE BAY HILLSBOROUGH KINGSLAND KOHIMARAMA LYNFIELD MEADOWBANK MISSION BAY MORNINGSIDE MOUNT ALBERT MOUNT EDEN MOUNT ROSKILL MOUNT WELLINGTON NEW WINDSOR NEWMARKET OMIHA 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 WAIHEKE ISLAND WATERVIEW WESLEY WESTERN SPRINGS WESTMERE

$985,000 $1,640,000 $520,000 $650,000 $1,410,000 $1,485,000 $2,560,000 $1,140,000 $1,305,000 $1,575,000 $1,015,000 $1,370,000 $1,555,000 $1,150,000 $1,065,000 $1,510,000 $985,000 $830,000 $1,010,000 $700,000 $785,000 $1,075,000 $940,000 $1,712,500 $655,000 $835,000 $1,350,000 $960,000 $1,510,000 $960,000 $1,910,000 $360,000 $1,760,000 $1,180,000 $1,205,000 $2,320,000 $1,215,000 $1,550,000 $1,390,000 $1,035,000 $1,300,000 $1,040,000 $905,000 $900,000 $1,050,000 $1,870,000

3.14% 7.54% 7.22% 25.00% 11.46% 6.26% 16.89% 10.68% 7.41% 6.78% 4.64% 10.48% 7.24% 13.86% 2.90% 8.24% 7.07% 5.06% 9.78% 0.72% -3.09% 11.98% 5.62% 11.20% 3.97% 0.60% 8.43% 4.07% 9.42% 5.49% 10.72% 0.00% 3.83% 14.01% 8.07% 13.87% 11.47% 4.03% 3.35% 13.11% 6.12% -0.72% 1.69% -1.10% 1.69% 10.98%

$1,550,000 $3,165,000 $3,400,000 $900,000 $3,060,000 $3,750,000 $4,500,000 $1,635,800 $2,150,000 $4,800,000 $1,875,000 $1,730,000 $5,300,000 $3,050,000 $3,200,000 $4,000,000 $1,527,000 $2,010,000 $1,450,000 $1,360,000 $1,650,000 $1,410,000 $2,540,000 $4,800,000 $2,200,000 $1,506,000 $4,920,000 N/A $3,610,000 $1,740,000 $2,850,000 N/A $8,000,000 $2,745,000 $1,980,000 $3,000,000 $2,350,000 $5,100,000 $1,760,000 $1,692,000 $1,802,000 $6,750,000 $1,390,000 $1,000,000 N/A $4,850,000

0.00% -12.10% 5.00% 0.00% -7.60% -1.90% 1.60% -12.00% 0.00% 2.60% 0.00% 0.00% -7.50% -4.50% -2.80% -7.60% -2.50% 6.50% -1.80% 0.00% 0.00% -5.90% -1.60% -1.80% 4.20% 1.90% -4.10% 0.00% 4.50% 0.00% 4.50% 0.00% -4.60% -2.50% 1.70% 0.00% -5.70% -2.80% 1.80% 0.00% 0.00% 0.00% -2.00% 0.00% 0.00% 5.30%

WAIHEKE ISLAND ONEROA ONETANGI OSTEND PALM BEACH SURFDALE WAIHEKE ISLAND

$1,115,000 $995,000 $865,000 $1,190,000 $920,000 $1,040,000

0.90% 1.02% 0.58% 4.85% 0.00% -0.72%

$9,000,000 $2,605,000 $2,800,000 $1,950,000 $3,750,000 $6,750,000

-4.50% 0.00% 0.00% 0.00% 1.00% 0.00%

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

$1,110,000 $560,000 $1,130,000 $805,000 $920,000 $1,230,000 $955,000 $1,230,000 $1,052,500 $685,000 $1,180,000 $912,500 $890,000 $795,000 $680,000 $1,285,000 $1,390,000 $1,335,000 $630,000

-4.31% -3.45% 0.89% 5.92% -1.60% 20.59% 6.11% 7.42% 4.73% -5.52% 1.29% -19.25% 5.01% -3.05% 1.49% -1.53% -13.40% 5.53% 0.80%

$1,400,000 $935,000 $2,100,000 $1,550,000 $1,410,000 $1,750,000 $1,140,000 N/A N/A $550,000 $895,000 $1,250,000 $1,440,000 $738,000 $1,520,000 $1,350,000 $1,515,000 $1,550,000 $907,500

0.40% 0.40% 0.40% 0.40% 0.00% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 1.70% 0.40% 0.40% 0.40% -2.00%

AUCKLAND — MANUKAU ALFRISTON BEACHLANDS BOTANY DOWNS BROOKBY BUCKLANDS BEACH BURSWOOD CLENDON PARK CLEVEDON CLOVER PARK COCKLE BAY DANNEMORA EAST TAMAKI EAST TAMAKI HEIGHTS EASTERN BEACH

$1,745,000 $1,197,500 $1,020,000 $1,100,000 $1,255,000 $960,000 $565,000 $1,397,500 $655,000 $1,225,000 $1,480,000 $1,025,000 $1,295,000 $1,505,000

132.67% 2.79% 8.51% 5.26% 8.66% 4.92% 0.89% 1.82% 0.77% 3.81% 10.45% 8.47% 4.44% 9.45%

$1,520,000 $1,560,000 $1,390,000 $1,620,000 $2,550,000 $1,083,000 $869,000 $2,700,000 $850,000 $2,400,000 $3,405,000 $1,390,000 $2,200,000 $3,000,000

-1.10% 6.70% -2.20% -1.10% -4.80% -1.10% 0.70% -1.10% -1.50% -1.10% -1.10% -2.60% -0.50% -1.10%

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

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

$1,300,000 $705,000 $1,105,000 $1,105,000 $860,000 $1,190,000 $940,000 $985,000 $1,082,500 $815,000 $705,000 $955,000 $680,000 $515,000 $645,000 $630,000 $1,217,500 $1,517,500 $1,460,000 $1,200,000 $480,000 $595,000 $945,000 $965,000 $730,000 $625,000 $1,885,000 $1,215,000 $1,270,000 $1,210,000 $1,065,000 $825,000 $1,650,000 $860,000 $655,000 $2,365,000 $580,000

6.56% 4.44% 2.31% 3.27% 1.78% 9.68% 8.05% 8.24% 6.13% -8.94% 7.63% 0.53% 6.25% 4.04% 3.20% 3.28% 2.31% 6.87% 33.03% 7.14% -4.00% 3.48% 5.00% 7.22% 5.80% 5.93% 8.65% 11.98% 9.96% 8.04% 7.58% 0.00% 6.45% 3.61% 1.55% -9.13% 5.45%

$1,250,000 $811,000 $2,600,000 $1,200,000 $1,004,000 $2,620,000 $1,710,000 $1,750,000 $1,185,000 N/A $1,090,000 $1,795,000 $1,152,000 $740,000 $1,365,000 $930,000 $1,350,000 $2,806,000 $1,350,000 $1,470,000 $1,000,000 $680,000 $1,530,000 $1,301,000 $1,500,000 $814,500 $2,400,000 $2,760,000 $1,755,000 $2,250,000 $1,410,000 $1,275,000 N/A $1,031,000 $820,000 $2,930,000 $672,000

-1.10% -1.10% -2.10% -1.10% 2.30% -6.00% -0.70% -6.40% -1.10% -1.10% 6.10% -8.70% -3.20% -1.10% -2.30% 1.60% -1.10% 0.00% -1.10% -4.10% -1.10% 1.30% 7.00% -2.70% -0.80% 0.00% -1.10% 1.70% -4.40% -2.10% 0.30% -1.10% -1.10% 6.00% 6.60% -1.10% -1.10%

AUCKLAND — NORTH SHORE 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

$1,010,000 $1,030,000 $1,205,000 $835,000 $865,000 $1,115,000 $815,000 $1,005,000 $1,060,000 $1,775,000 $1,550,000 $1,230,000 $1,670,000 $1,360,000 $1,210,000 $880,000 $1,355,000 $1,385,000 $1,060,000 $1,505,000 $1,497,500 $1,525,000 $1,255,000 $1,395,000 $1,460,000 $1,060,000 $1,315,000 $1,005,000 $1,170,000 $960,000 $1,295,000 $1,405,000 $905,000 $1,300,000 $1,435,000 $1,810,000 $1,000,000 $1,355,000 $1,020,000 $887,500 $955,000 $1,205,000 $795,000 $1,125,000

0.50% 0.98% 1.69% 6.37% 5.49% 6.70% 2.52% 5.24% 3.41% 2.01% 6.16% 2.93% 6.37% 1.87% 6.14% 5.39% 7.97% 6.13% 6.53% 4.51% -17.27% 5.90% 6.81% 6.90% 5.42% 4.95% 4.37% 3.61% -50.94% 0.00% -22.22% 2.93% -15.42% 5.26% 4.74% 6.16% 2.56% 1.12% 2.51% 5.03% -1.55% 3.43% 4.61% 2.27%

$1,605,000 $2,000,000 $3,660,000 $1,237,000 $1,628,000 $1,725,000 $1,430,000 $2,550,023 $1,800,000 $3,075,000 $2,750,000 $2,210,000 $3,475,000 $3,800,000 $1,423,500 $1,625,000 $2,343,000 $3,050,000 $1,600,000 $2,600,000 $1,565,000 $1,900,000 $3,330,000 $1,875,000 $4,700,000 $1,840,000 $2,325,000 $1,490,000 $4,500,000 $1,800,000 $1,300,000 $2,010,000 $1,750,000 $1,800,000 $2,550,000 $3,500,000 $1,300,000 $5,900,000 $1,500,000 $1,243,000 $1,620,000 $1,135,000 N/A $1,900,000

-3.50% -0.50% -0.50% -1.40% -2.30% 0.40% -6.10% 3.50% -2.10% -0.50% -0.20% -0.50% 9.90% -0.50% -2.10% -3.80% -5.60% -1.10% 1.10% -2.30% -0.50% -1.80% -5.00% 10.90% -6.60% 3.80% 2.10% 1.00% -0.50% 1.90% -0.50% 0.40% -0.50% 1.20% -2.40% -0.50% 2.70% -6.20% -3.80% -0.30% -2.20% -0.50% -0.50% -0.50%

AUCKLAND — PAPAKURA ARDMORE CONIFER GROVE DRURY KARAKA OPAHEKE PAHUREHURE

$3,727,500 $825,000 $780,000 $1,200,000 $760,000 $750,000

12.95% 3.13% 2.63% 1.69% 4.83% 0.00%

N/A $1,066,000 $1,070,000 $2,375,000 $1,300,000 $1,167,000

2.00% 2.40% 2.00% 2.50% 4.10% 2.00%

LOCATION

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$630,000 $620,000 $620,000 $765,000

2.44% 6.90% 5.08% 4.79%

$1,052,000 $1,324,000 $945,000 $2,100,000

3.80% -0.40% 2.00% 5.70%

AUCKLAND — RODNEY 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

$920,000 $887,500 $865,000 $1,465,000 $2,315,000 $2,140,000 $982,500 $1,000,000 $842,500 $825,000 $820,000 $835,000 $980,000 $1,055,000 $1,125,000 $0 $1,105,000 $870,000 $887,500 $1,377,500 $935,000 $640,000 $865,000 $1,155,000 $1,167,500 $1,085,000 $1,615,000 $925,000 $1,055,000 $610,000 $1,060,000 $1,375,000 $815,000 $1,090,000 $945,000 $2,060,000 $1,175,000 $987,500 $670,000 $1,130,000 $755,000 $980,000 $795,000 $850,000 $950,000 $610,000 $772,500 $1,495,000 $1,290,000 $985,000 $817,500 $940,000 $1,215,000 $1,005,000 $860,000 $1,290,000 $1,592,500 $1,655,000 $1,235,000 $830,000 $595,000 $825,000 $1,005,000 $1,022,500

-0.54% 5.03% 0.29% -25.45% -5.32% 3.26% -21.71% -18.03% -0.30% 4.43% 5.81% 3.73% -0.51% -13.52% -3.85% 0.00% -13.33% 5.45% -24.63% -15.23% -8.56% 0.79% 6.13% -7.97% 7.60% 0.00% 6.60% 2.21% 9.90% 7.02% -17.51% 6.59% 22.56% -1.80% 1.07% 3.52% 3.07% -5.05% -11.26% 3.20% 0.00% -4.39% 6.71% -14.14% 11.76% -17.01% 3.34% -2.76% 17.27% 6.78% 15.96% 12.57% 11.47% 7.49% 5.52% 1.98% -1.09% -12.66% 39.15% -0.60% 3.48% -9.84% -0.25% 35.88%

$2,350,000 $930,000 $1,040,000 N/A $2,610,000 $3,050,000 N/A N/A $800,000 $2,140,000 $1,015,000 $1,831,429 $1,178,000 N/A $1,475,000 $400,000 $2,000,000 $1,970,000 $685,000 $1,100,000 $962,500 N/A $1,850,000 $3,300,000 $755,000 $880,000 $3,550,000 $2,400,000 N/A $879,000 N/A $1,260,000 $690,000 $1,350,000 $1,400,000 N/A $1,400,000 N/A $670,000 $1,456,700 $1,200,000 $2,250,000 $1,900,000 $1,025,000 N/A N/A N/A $1,450,000 $1,660,545 N/A N/A N/A $1,462,500 $970,000 $930,000 $1,640,000 $3,300,000 $1,610,000 N/A $6,500,000 $1,295,000 $1,000,000 $876,000 N/A

-0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -1.60% -0.40% 3.90% -0.20% -0.20% -0.20% -0.20% -4.20% -0.20% -0.20% -0.20% -0.20% -0.20% -8.20% -0.20% -0.20% -0.20% -0.20% 2.00% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% 1.60% -0.20% -0.20% -0.20% -0.20% -0.70% 2.00% -0.20% -0.80% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% 1.00% -0.20% -0.20% -0.20% -0.20%

AUCKLAND — WAITAKERE 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

$430,000 $835,000 $905,000 $745,000 $775,000 $890,000 $805,000 $900,000 $1,165,000 $930,000 $745,000 $725,000 $765,000 $825,000 $755,000 $770,000 $975,000 $840,000 $975,000

0.00% -0.60% 0.00% 2.76% 5.44% 4.09% 5.23% 2.56% 10.43% 3.33% 4.20% 2.11% 2.68% 2.48% 4.86% 4.05% 4.84% 3.07% 0.52%

N/A $758,000 $2,100,000 $1,400,000 $1,200,000 $1,400,000 $2,190,000 $951,000 $1,595,000 $1,700,000 $1,385,000 $645,000 $810,000 $1,005,000 $1,295,000 $1,800,000 $1,195,000 $812,000 $1,150,000

-0.60% -0.60% -0.60% 2.00% -0.30% -0.60% -4.90% -0.60% -0.60% 0.30% -0.60% -0.60% -0.60% -0.60% -0.70% -1.90% -0.60% -0.60% -0.60%

LOCATION PAPAKURA RED HILL ROSEHILL TAKANINI

LOCATION RANUI SUNNYVALE SWANSON TE ATATU PENINSULA TE ATATU SOUTH TITIRANGI WAIATARUA WAITAKERE WEST HARBOUR WESTGATE WHENUAPAI

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$715,000 $740,000 $870,000 $975,000 $825,000 $905,000 $875,000 $955,000 $1,035,000 $860,000 $1,037,500

7.52% 6.47% 2.96% 7.14% 5.10% 2.26% 1.74% -0.78% 7.25% 2.99% 6.41%

$2,100,000 $980,000 $1,995,000 $1,580,000 $1,285,000 $1,830,000 $1,256,000 $950,000 $2,880,000 $1,038,000 $1,330,000

-1.40% 4.20% -4.40% -0.60% -0.40% -0.90% -0.60% -0.60% -1.50% -0.70% 1.80%

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

$580,000 $450,000 $750,000 $660,000 $952,500 $620,000 $710,000 $585,000 $530,000 $570,000 $445,000 $525,000 $570,000 $625,000 $845,000 $570,000 $475,000 $595,000 $710,000 $585,000 $570,000 $680,000 $850,000 $620,000 $820,000 $545,000 $515,000 $500,000 $1,095,000 $605,000 $740,000 $710,000 $780,000 $810,000 $685,000 $600,000 $570,000 $490,000 $465,000 $625,000 $755,000 $485,000

2.65% 13.92% 5.63% 6.45% -0.26% 9.73% 9.23% 7.34% 11.58% 7.55% 8.54% 9.38% 5.56% 11.61% 5.63% 6.54% 9.83% 9.17% 5.19% 5.88% 7.55% 6.25% 4.62% 7.83% 3.14% 5.83% 9.57% 11.11% 3.79% 7.08% 5.71% 8.40% 6.12% 6.58% 4.58% 9.09% 6.54% 7.69% 16.25% 6.84% 6.34% 7.78%

N/A $556,000 $920,000 $1,530,000 N/A $1,500,000 $805,000 $1,005,000 $595,000 $760,000 $730,000 $900,000 $660,000 $800,000 $1,420,000 $702,500 $1,450,000 $1,468,000 $849,000 $633,000 $955,000 $860,000 $882,500 $963,000 $1,285,000 $767,500 $720,000 $670,000 $2,000,000 $767,000 $790,000 $1,220,000 $1,100,000 $1,062,000 $720,000 $1,330,000 $712,000 N/A N/A $840,000 $895,000 $650,000

1.90% 1.90% 1.90% 1.90% 1.90% 2.30% 1.90% -1.20% 1.90% 1.10% 17.90% 2.30% 0.00% 1.90% -3.90% 0.00% -7.90% 3.80% 1.90% 1.90% 0.90% 1.90% 1.90% 3.20% -3.90% 0.60% 5.60% 6.20% 1.90% -1.00% 1.90% 1.90% -2.80% 1.70% 1.90% 0.00% 1.90% 1.90% 1.90% 1.90% 1.90% 0.00%

HAURAKI KAIAUA KARANGAHAKE KEREPEHI KOMATA MANGATARATA NETHERTON NGATEA ORONGO PAEROA PIPIROA TURUA WAIHI WAIKINO WHAKATIWAI WHIRITOA

$550,000 $440,000 $350,000 $680,000 $867,500 $515,000 $495,000 $730,000 $410,000 $707,500 $525,000 $465,000 $680,000 $745,000 $627,500

0.00% -16.19% 2.94% -10.53% 0.00% -8.04% 2.06% -2.67% 6.49% 31.02% 6.06% 8.14% 20.35% -0.67% 2.87%

$870,000 $325,000 $525,000 $1,085,000 $800,000 $635,000 $750,000 $641,500 $1,225,000 $502,000 $455,000 $1,020,000 $787,500 $660,000 $1,150,000

0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% -0.50% 0.10% 0.10% 7.60% 0.10% 0.10% 0.10%

MATAMATA-PIAKO MANAWARU MANGATEPARU MATAMATA MORRINSVILLE MOTUMAOHO OKAUIA OTWAY TE AROHA WAHAROA WAIHOU WAITOA

$720,000 $807,500 $540,000 $550,000 $815,000 $885,000 $772,500 $465,000 $250,000 $470,000 $650,000

15.20% 13.73% 3.85% 8.91% 5.16% -10.61% -1.59% 9.41% 11.11% 18.24% 41.30%

$750,000 $635,000 $1,340,000 $1,150,000 $559,000 $750,000 $640,000 $750,000 $400,000 $800,000 $687,000

3.90% 3.90% 0.80% 3.30% 3.90% 3.90% 3.90% 1.40% 3.90% 3.90% 3.90%

OTOROHANGA KAWHIA MAIHIIHI

$377,500 $735,000

-11.18% 41.35%

$200,000 N/A

1.30% 1.30%

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

NGAHAPE OTEWA OTOROHANGA PUKETOTARA TE KAWA TE RAUAMOA TIHIROA WAIKERIA WAIMAHORA WHAREPUHUNGA

$740,000 $510,000 $390,000 $777,500 $635,000 $685,000 $615,000 $622,500 $705,000 $690,000

0.68% 7.94% 8.33% 7.24% -6.27% 37.00% 13.36% 3.75% 0.00% -0.72%

N/A N/A $665,000 $780,000 $810,000 N/A $600,000 $465,000 N/A $890,000

1.30% 1.30% 1.30% 1.30% 1.30% 1.30% 1.30% 1.30% 1.30% 1.30%

SOUTH WAIKATO ARAPUNI KINLEITH LICHFIELD NGATIRA OKOROIRE PIARERE PUTARURU TAPAPA TIRAU TOKOROA WAOTU WILTSDOWN

$425,000 $657,500 $672,500 $720,000 $725,000 $715,000 $370,000 $685,000 $460,000 $275,000 $715,000 $650,000

18.06% 20.09% -4.61% 17.07% 7.81% -23.94% 8.82% 17.09% 9.52% 17.02% 2.14% -10.65%

$681,000 $1,000,000 $650,000 N/A N/A N/A $550,000 N/A $680,000 $860,000 $712,000 $780,000

1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 2.30% 1.10% 1.10% -9.10% 1.10% 1.10%

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

$815,000 $390,000 $555,000 $810,000 $490,000 $280,000 $710,000 $500,000 $595,000 $470,000 $855,000 $840,000 $675,000 $530,000 $405,000 $485,000 $542,500 $320,000 $295,000 $580,000 $710,000 $880,000 $795,000

5.16% -10.34% 1.83% 9.46% 4.26% 30.23% 6.77% 1.01% 11.21% 4.44% 7.55% -2.33% 8.00% 9.28% 14.08% 6.59% 5.34% 19.63% 13.46% 6.42% 3.65% 33.33% 0.63%

$2,087,500 $310,000 $1,150,000 $830,000 $750,000 $560,000 $950,000 $740,000 $800,000 $800,000 $1,050,000 $1,640,000 $1,070,000 $602,000 $500,000 $823,243 $700,000 $370,000 $495,000 $645,500 $1,029,000 $860,000 $2,105,000

1.00% 2.00% 0.80% -2.60% 1.60% 2.00% 2.00% 2.00% -0.90% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.30% 2.00% 2.00% 5.70% 2.00% 2.00% 2.00% 2.00%

THAMES-COROMANDEL COOKS BEACH COROMANDEL FERRY LANDING HAHEI KAIMARAMA MATARANGI MATATOKI ONEMANA OPOUTERE PAUANUI PURIRI TAIRUA TE MATA TE PURU TE RERENGA THAMES THORNTON BAY TUATEAWA WAIOMU WHITIANGA

$780,000 $595,000 $1,037,500 $1,080,000 $840,000 $645,000 $610,000 $722,500 $687,500 $855,000 $612,500 $735,000 $645,000 $605,000 $610,000 $525,000 $715,000 $595,000 $560,000 $670,000

4.70% 8.18% 7.79% 7.46% 2.44% 7.05% 8.93% 3.96% 7.42% 8.92% 5.60% 13.08% 7.50% 3.86% 14.02% 7.14% 1.42% 14.98% 6.67% 3.88%

$880,000 $515,000 $720,000 $1,755,000 $1,150,000 $768,000 $395,000 $770,000 $2,150,000 $2,100,000 $760,000 $980,000 $560,000 $1,030,000 $538,000 $1,050,000 $750,000 $440,000 $760,000 $1,200,000

-4.80% -4.80% -4.80% -4.80% -4.80% -4.80% -4.80% -4.80% -4.80% -4.10% -4.80% -0.60% -4.80% -4.80% -4.80% 3.70% -4.80% -4.80% -4.80% -9.10%

WAIKATO AKA AKA BUCKLAND CHURCHILL EUREKA GLEN MASSEY GLEN MURRAY HOROTIU HORSHAM DOWNS HUNTLY MANGATANGI MANGATAWHIRI MARAMARUA MERCER NGARUAWAHIA ONEWHERO ORINI OTAUA POKENO

$832,500 $985,000 $727,500 $915,000 $720,000 $677,500 $615,000 $1,260,000 $370,000 $820,000 $965,000 $720,000 $630,000 $495,000 $770,000 $690,000 $930,000 $775,000

-2.92% -1.75% -10.74% 4.57% -8.86% 1.12% 9.82% 8.15% 7.25% 7.54% 6.04% 7.46% 5.88% 12.50% -1.28% 15.97% 1.09% 5.44%

$1,070,000 $925,000 N/A $500,000 $830,002 N/A N/A $1,050,000 $799,000 N/A $1,180,000 N/A $960,000 $2,300,000 $830,000 $645,000 N/A $1,100,000

2.10% 2.10% 2.10% 2.10% 2.10% 2.10% 2.10% 2.10% 12.60% 2.10% 2.10% 2.10% 2.10% -1.00% 2.10% 2.10% 2.10% -1.30%

LOCATION

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

PUKEKAWA RAGLAN RANGIRIRI TAMAHERE TAUPIRI TAUWHARE TE AKAU TE KAUWHATA TE KOHANGA TE KOWHAI WAERENGA WHATAWHATA WHITIKAHU

$780,000 $755,000 $905,000 $1,325,000 $765,000 $950,000 $465,000 $605,000 $750,000 $1,002,500 $735,000 $895,000 $610,000

-8.24% 4.14% -1.09% 0.38% 8.51% 4.97% 0.00% 3.42% -4.46% 12.01% -2.65% -2.19% 20.79%

$750,000 $1,720,000 $825,000 $2,350,000 $925,000 $950,000 $555,000 $855,000 $850,000 $1,175,000 $1,470,000 $1,295,000 N/A

2.10% -2.00% 2.10% 6.30% 2.10% 2.10% 2.10% 0.80% 2.10% 2.10% 2.10% 2.10% 2.10%

WAIPA CAMBRIDGE KARAPIRO KIHIKIHI LEAMINGTON MAUNGATAUTARI NGAHINAPOURI OHAUPO PARAWERA PIRONGIA RUKUHIA TE AWAMUTU TE MIRO TE PAHU

$815,000 $1,035,000 $505,000 $670,000 $1,110,000 $905,000 $915,000 $700,000 $750,000 $985,000 $535,000 $902,500 $685,000

7.24% 1.47% 14.77% 8.06% 9.90% 5.23% 10.24% -4.76% 2.04% 11.93% 5.94% -6.48% -4.86%

$1,500,000 $858,000 $710,000 $1,500,000 $835,500 $1,775,000 $1,800,000 $742,000 $1,310,000 $1,365,000 $1,300,000 $1,270,000 $800,000

0.30% 0.80% 3.20% 0.00% 0.80% 0.80% 0.80% 0.80% 0.80% 0.80% 1.00% 0.80% 0.80%

$205,000 $245,000 $235,000 $280,000

-16.33% -16.95% 2.17% 7.69%

N/A $260,000 $190,000 $630,000

1.30% 1.30% 1.30% 1.30%

KAWERAU KAWERAU

$295,000

11.32%

$525,000

1.40%

OPOTIKI OPOTIKI TE KAHA WAIHAU BAY

$280,000 $335,000 $495,000

1.82% -26.37% 10.00%

$481,000 $340,000 $530,000

1.40% 1.40% 1.40%

$425,000 $440,000 $280,000 $545,000 $945,000 $430,000 $500,000 $465,000 $680,000 $557,500 $375,000 $975,000 $432,500 $1,065,000 $755,000 $267,500 $410,000 $462,500 $667,500 $350,000 $480,000 $465,000 $655,000 $490,000 $470,000 $455,000 $350,000 $525,000 $415,000 $425,000 $650,000 $750,000 $840,000 $470,000 $440,000 $702,500 $390,000 $405,000

8.97% 14.29% 21.74% 9.00% 20.38% 17.01% 12.36% 13.41% -16.82% 11.50% 14.50% 22.64% 13.82% 24.56% 8.63% -18.94% 12.33% 31.21% -12.17% 18.64% 12.94% 13.41% 10.55% 10.11% 13.25% 12.35% 0.00% 5.00% 16.90% 11.84% 11.11% 9.09% -10.40% 5.62% 8.64% -16.37% 9.86% 12.50%

$577,000 $505,000 $335,000 $1,370,000 $1,180,000 $430,000 $671,000 $455,000 $750,000 $870,000 $530,000 $1,310,000 $580,000 $2,125,000 $1,300,000 $510,000 $830,000 N/A $630,000 $290,000 $845,000 N/A $1,730,000 $1,100,000 $1,360,000 $725,000 $348,000 $711,500 $1,080,000 $507,000 $831,500 $675,000 $1,164,000 $555,000 $570,000 $550,000 $800,000 $260,000

-0.70% -0.70% -0.70% 4.80% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% 0.00% -0.70% -0.70% -0.70% -0.70% -0.70% 0.70% -0.70% -0.70% 10.20% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70% -0.70%

$580,000 $835,000 $595,000 $520,000 $560,000

8.41% 5.70% 7.21% 8.33% 7.69%

$900,000 $1,300,000 $825,000 $656,000 $820,000

-0.30% 2.10% 0.10% 3.60% 1.60%

LOCATION

WAITOMO AWAKINO MOKAU PIOPIO TE KUITI

BAY OF PLENTY

ROTORUA FAIRY SPRINGS FENTON PARK FORDLANDS GLENHOLME HAMURANA HANNAHS BAY HILLCREST HOLDENS BAY HOROHORO KAWAHA POINT KOUTU LAKE OKAREKA LAKE ROTOMA LAKE TARAWERA LYNMORE MAMAKU MANGAKAKAHI MOUREA NGAKURU NGAPUNA NGONGOTAHA OHINEMUTU OKERE FALLS OWHATA PUKEHANGI REPOROA REREWHAKAAITU ROTOITI FOREST ROTORUA SELWYN HEIGHTS SPRINGFIELD TIHIOTONGA TIKITERE UTUHINA VICTORIA WAIKITE VALLEY WESTERN HEIGHTS WHAKAREWAREWA TAURANGA BELLEVUE BETHLEHEM BROOKFIELD GATE PA GREERTON

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

HAIRINI JUDEA MATUA MAUNGATAPU MOUNT MAUNGANUI OHAUITI OTUMOETAI PAPAMOA PAPAMOA BEACH PARKVALE POIKE PYES PA TAURANGA TAURANGA SOUTH TAURIKO WELCOME BAY

$570,000 $545,000 $770,000 $640,000 $810,000 $800,000 $725,000 $690,000 $740,000 $500,000 $500,000 $780,000 $700,000 $635,000 $1,360,000 $655,000

8.57% 6.86% 6.94% 4.92% 3.85% 5.26% 5.07% -10.97% 5.71% 7.53% 7.53% 4.70% 5.26% 9.48% 11.48% 6.50%

$770,000 $786,000 $2,470,000 $1,702,000 $3,500,000 $1,470,000 $1,320,000 $775,000 $2,450,000 $630,000 $850,000 $2,240,000 $1,500,000 $1,267,000 $2,150,000 $1,650,000

5.10% -1.40% 1.20% 4.20% -5.40% 0.00% 5.50% 1.20% 2.90% 0.30% 1.20% -1.40% -4.50% -7.90% 1.20% 1.70%

WESTERN BAY OF PLENTY AONGATETE ATHENREE KATIKATI MAKETU OMANAWA OMOKOROA OROPI PAENGAROA PONGAKAWA TE PUKE TE PUNA

$802,500 $710,000 $565,000 $510,000 $1,000,000 $775,000 $1,070,000 $645,000 $740,000 $550,000 $1,220,000

-5.87% 2.90% 5.61% 0.99% 4.17% 1.31% 0.47% 2.38% 8.82% 4.76% 8.44%

$1,560,000 $1,565,000 $815,000 $780,000 $1,900,000 $1,670,000 $1,165,000 $699,000 $1,265,000 $1,100,000 $1,720,000

0.90% 1.90% -3.80% 1.90% 1.90% -0.10% 0.00% 1.90% 1.90% -1.50% 1.90%

$675,000 $395,000 $635,000 $810,000 $520,000 $120,000 $817,500 $725,000 $770,000 $530,000 $292,500 $890,000 $480,000

2.27% 9.72% 3.25% -44.04% 10.64% 14.29% 7.57% 10.69% 11.59% 194.44% 27.17% 3.19% 7.87%

$837,750 $470,000 N/A N/A $1,055,000 $158,000 $960,000 $880,000 $650,000 N/A N/A N/A $940,000

4.10% 4.10% 4.10% 4.10% 4.10% 4.10% 2.30% 4.10% 4.10% 4.10% 4.10% 4.10% 2.50%

$465,000 $320,000 $395,000 $470,000 $335,000 $715,000 $1,050,000 $970,000 $970,000 $870,000 $857,500 $285,000 $475,000 $345,000 $395,000 $205,000 $1,035,000 $550,000

20.78% 25.49% 21.54% 16.05% 28.85% 11.72% 32.08% 25.57% 33.79% 18.37% 32.43% 18.75% 14.46% 13.11% 17.91% 0.00% 23.95% 18.28%

$445,000 $470,000 $675,000 $1,700,000 $600,000 $1,267,500 $1,485,000 $405,000 $845,000 $1,360,000 $1,200,000 $550,000 $800,000 $355,000 $705,000 $280,000 $711,000 $775,000

1.90% 1.90% 1.90% 1.90% -0.20% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 3.90% 1.90% 1.90% 0.20%

CENTRAL HAWKE’S BAY ELSTHORPE FLEMINGTON OTANE PORANGAHAU TAKAPAU WAIPAWA

$585,000 $530,000 $430,000 $365,000 $460,000 $375,000

0.00% 3.92% 14.67% 0.00% -19.30% 15.38%

$360,000 $595,000 $850,000 $490,000 $390,000 $750,000

0.00% 0.00% 0.00% 0.00% 0.00% -0.30%

HASTINGS AKINA BRIDGE PA CAMBERLEY CLIVE CROWNTHORPE ESKDALE FERNHILL FLAXMERE HASTINGS HAUMOANA HAVELOCK NORTH KARAMU LONGLANDS MAHORA MARAEKAKAHO

$470,000 $370,000 $345,000 $615,000 $827,500 $860,000 $425,000 $355,000 $455,000 $605,000 $775,000 $660,000 $702,500 $530,000 $797,500

10.59% -28.16% 23.21% 11.82% 8.88% 28.36% -34.62% 33.96% 19.74% 19.80% 12.32% -30.89% -8.17% 15.22% -0.62%

$900,000 N/A $670,000 $1,025,000 $1,100,000 $1,350,000 N/A $500,000 $710,000 $3,000,000 $1,740,000 N/A $600,000 $785,000 $880,000

3.60% 2.90% 2.40% 2.90% 2.90% 2.90% 2.90% 4.20% 5.50% 2.90% 2.40% 2.90% 2.90% -0.60% 2.90%

LOCATION

WHAKATANE COASTLANDS EDGECUMBE MANAWAHE MARAETOTARA MATATA MURUPARA OHOPE OTAKIRI ROTOMA TANEATUA TE TEKO THORNTON WHAKATANE

GISBORNE / HAWKE’S BAY GISBORNE AWAPUNI ELGIN GISBORNE INNER KAITI KAITI LYTTON WEST MAKAURI MATAWHERO MATOKITOKI OKITU ORMOND OUTER KAITI RIVERDALE TAMARAU TE HAPARA TOLAGA BAY WAINUI WHATAUPOKO

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

MAYFAIR OMAHU PAKIPAKI PAKOWHAI PARKVALE POUKAWA PUKETAPU PUKETITIRI RAUREKA RISSINGTON SAINT LEONARDS SHERENDEN TANGOIO TE AWANGA TWYFORD WAIMARAMA WAIPATU WHAKATU

$460,000 $470,000 $382,500 $700,000 $500,000 $1,135,000 $1,082,500 $457,500 $485,000 $705,000 $475,000 $737,500 $655,000 $655,000 $765,000 $975,000 $575,000 $440,000

8.24% 20.51% -21.54% -21.57% 11.11% -3.81% 28.87% 10.24% 14.12% 1.08% 9.20% 9.26% 34.36% 6.50% -1.92% 14.37% 3.60% 25.71%

$660,000 N/A N/A $800,000 $1,725,000 $1,300,000 $2,000,000 N/A $700,000 N/A $771,000 $650,000 $680,000 $810,000 $710,000 $1,750,000 N/A N/A

-2.10% 2.90% 2.90% 2.90% 0.30% 2.90% 2.90% 2.90% 1.80% 2.90% 1.30% 2.90% 2.90% 2.90% 2.90% 2.90% 2.90% 2.90%

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

$750,000 $745,000 $725,000 $765,000 $615,000 $735,000 $730,000 $345,000 $445,000 $875,000 $535,000 $485,000 $585,000 $510,000 $875,000 $515,000 $635,000 $720,000 $772,500

14.94% 7.97% 9.85% 10.87% 10.81% 10.94% 10.19% 23.21% 11.25% 9.03% 12.63% 10.23% 13.59% 13.33% 10.06% 13.19% 9.48% 34.58% 12.77%

$2,250,000 $800,000 $1,080,000 $1,500,000 $960,000 $1,060,000 $1,280,000 $496,000 $735,000 $868,888 $1,030,000 $760,000 $745,000 $711,000 $1,735,000 $737,500 $1,391,000 $920,000 $1,150,000

-1.50% 0.00% -5.10% 4.00% -2.00% 0.00% 1.00% 0.00% -0.70% 1.00% 2.80% 1.00% 1.00% -3.40% -4.10% 3.00% 1.90% 1.00% 1.00%

WAIROA MAHIA WAIROA

$585,000 $175,000

30.00% 9.38%

$515,000 $399,500

2.30% 2.30%

LOCATION

MANAWATU-WANGANUI

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$335,000 $270,000 $247,500 $335,000 $565,000 $200,000

21.82% 58.82% -13.16% 36.73% 0.00% 3.90%

$790,000 $245,000 $460,000 $900,000 $350,000 $285,000

3.80% 3.80% 3.80% 3.80% 3.80% 3.80%

$167,500 $167,500 $220,000 $385,000 $570,000 $200,000 $195,000

-12.99% -4.29% -8.33% 18.46% 52.00% 37.93% 8.33%

N/A $339,000 $349,000 $604,140 $305,000 $295,000 $406,500

0.90% 0.90% 0.90% 7.90% 0.90% 0.90% 7.40%

TARARUA DANNEVIRKE EKETAHUNA ORMONDVILLE PAHIATUA WOODVILLE

$290,000 $260,000 $390,000 $295,000 $260,000

18.37% 48.57% 5.41% 25.53% 13.04%

$850,000 $625,000 N/A $680,000 $520,000

4.90% 2.60% 2.60% 1.50% -0.80%

WHANGANUI ARAMOHO BASTIA HILL BRUNSWICK CASTLECLIFF COLLEGE ESTATE DURIE HILL FORDELL GONVILLE KAI IWI KAITOKE MARYBANK OKOIA OTAMATEA PUTIKI SAINT JOHNS HILL SPRINGVALE TAWHERO WESTMERE WHANGANUI WHANGANUI EAST

$315,000 $420,000 $690,000 $265,000 $420,000 $392,500 $560,000 $305,000 $565,000 $622,500 $495,000 $590,000 $605,000 $380,000 $470,000 $400,000 $367,500 $690,000 $295,000 $315,000

28.57% 18.31% 9.09% 26.19% 18.31% 22.66% 15.46% 27.08% 15.31% 12.16% 23.75% 16.83% 5.22% 15.15% 10.59% 12.68% 20.49% 16.95% 20.41% 21.15%

$780,000 $495,000 $730,000 $1,150,000 $425,000 $549,000 $975,000 $781,010 $550,000 $550,000 $665,000 $680,000 $695,000 $460,000 $685,000 $661,000 $611,000 $560,000 $730,000 $545,000

-1.90% 2.60% 2.60% -1.60% 2.60% 0.00% 2.60% 1.40% 2.60% 2.60% 2.60% 2.60% 0.00% 2.60% 0.40% 2.50% -0.30% 2.60% 19.90% 0.80%

NEW PLYMOUTH BELL BLOCK BLAGDON BROOKLANDS EGMONT VILLAGE FERNDALE FITZROY FRANKLEIGH PARK GLEN AVON HIGHLANDS PARK HILLSBOROUGH HURDON HURWORTH INGLEWOOD LEPPERTON LYNMOUTH MANGOREI MARFELL MERRILANDS MOTUROA NEW PLYMOUTH OAKURA OKATO OKOKI OMATA ONAERO SPOTSWOOD STRANDON TARURUTANGI URENUI VOGELTOWN WAITARA WELBOURN WESTOWN WHALERS GATE

$470,000 $405,000 $450,000 $565,000 $440,000 $565,000 $460,000 $510,000 $635,000 $825,000 $495,000 $805,000 $420,000 $650,000 $460,000 $685,000 $325,000 $540,000 $455,000 $540,000 $845,000 $415,000 $387,500 $825,000 $655,000 $395,000 $570,000 $820,000 $790,000 $430,000 $330,000 $470,000 $430,000 $560,000

4.44% 10.96% 8.43% 6.60% 3.53% 10.78% 4.55% 4.62% 6.72% -2.37% 1.02% 6.62% 15.07% 12.07% 8.24% 9.60% 8.33% 8.00% 8.33% 2.86% 8.33% 13.70% 0.00% 14.58% -5.07% 14.49% 3.64% 2.50% 73.63% 6.17% 15.79% 6.82% 7.50% 5.66%

$900,000 $635,000 $775,000 $680,000 $935,000 $940,000 $1,300,000 $855,000 $1,252,000 $1,130,000 $940,000 $965,000 $660,000 $920,000 $588,000 $810,000 $585,000 $960,000 $1,410,000 $1,227,000 $898,000 $500,000 $530,000 $910,000 N/A $575,000 $1,275,000 N/A $420,000 $710,000 $560,000 $1,106,000 $1,150,000 $860,000

-2.30% -1.20% -1.20% -1.20% -1.20% -2.50% 1.70% -1.20% -1.20% -1.20% -1.20% -1.20% -3.50% -1.20% -1.20% -1.20% -1.20% 1.60% 0.10% -3.30% -1.20% -1.20% -1.20% -1.20% -1.20% -2.50% 0.10% -1.20% -1.20% -1.30% -0.40% -1.20% 6.70% -0.80%

SOUTH TARANAKI ELTHAM HAWERA KAPONGA MANAIA MIDHIRST NORMANBY

$250,000 $320,000 $380,000 $190,000 $390,000 $265,000

21.95% 16.36% 72.73% 26.67% -15.22% 29.27%

$434,000 $815,000 $372,500 $400,000 $710,000 $579,000

7.40% 2.90% 3.70% 3.70% 1.40% 3.70%

LOCATION RANGITIKEI BULLS HUNTERVILLE KOITIATA MARTON PAREWANUI TAIHAPE RUAPEHU KAKAHI MANUNUI NATIONAL PARK OHAKUNE OWHANGO RAETIHI TAUMARUNUI

TARANAKI

HOROWHENUA FOXTON FOXTON BEACH HOKIO BEACH LEVIN MANAKAU OHAU SHANNON TOKOMARU WAITARERE BEACH

$325,000 $410,000 $390,000 $410,000 $612,500 $690,000 $300,000 $440,000 $435,000

20.37% 9.33% 36.84% 18.84% 9.38% 13.11% 27.66% 76.00% 17.57%

$700,000 $595,000 $485,000 $1,275,000 $913,000 $1,200,000 $491,000 $605,000 $951,000

4.60% 0.40% 0.60% -0.60% 0.60% 0.60% 0.60% 0.60% 0.60%

MANAWATU FEILDING HALCOMBE HIMATANGI BEACH KAIRANGA NEWBURY POHANGINA RONGOTEA SANSON TANGIMOANA TIAKITAHUNA

$455,000 $522,500 $370,000 $830,000 $837,500 $675,000 $450,000 $345,000 $500,000 $667,500

15.19% 18.75% 12.12% 16.90% 19.64% 8.87% 60.71% 35.29% 150.00% 14.59%

$1,024,000 $759,000 $474,000 $950,000 $429,599 $770,000 $880,000 $980,000 $592,000 $940,000

2.60% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

PALMERSTON NORTH AOKAUTERE ASHHURST AWAPUNI CLOVERLEA FITZHERBERT HIGHBURY HOKOWHITU KELVIN GROVE LINTON MILSON PALMERSTON NORTH ROSLYN TAKARO TERRACE END TURITEA WEST END WESTBROOK WHAKARONGO

$847,500 $495,000 $485,000 $435,000 $705,000 $410,000 $585,000 $610,000 $645,000 $465,000 $475,000 $410,000 $435,000 $480,000 $855,000 $455,000 $395,000 $685,000

21.94% 23.75% 19.75% 16.00% 10.16% 22.39% 13.59% 11.93% -4.44% 13.41% 15.85% 18.84% 19.18% 15.66% -3.39% 18.18% 19.70% 10.93%

$971,000 $915,000 $1,060,000 $831,000 $890,000 $547,000 $2,080,000 $1,500,000 $942,500 $820,000 $915,000 $710,029 $655,000 $990,000 N/A $763,000 $1,000,000 $700,000

2.80% -1.20% 3.30% 3.00% 2.50% -0.50% 3.30% 2.00% 2.80% 1.00% 0.80% 2.90% -1.00% -1.00% 2.80% 4.60% 2.80% 2.80%

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$275,000 $155,000 $330,000 $210,000

10.00% 24.00% 17.86% 31.25%

$540,000 $404,000 $620,000 $390,000

-1.10% 3.70% 2.00% 3.70%

KAPITI COAST OTAIHANGA OTAKI OTAKI BEACH PAEKAKARIKI PARAPARAUMU PARAPARAUMU BEACH PEKA PEKA RAUMATI BEACH RAUMATI SOUTH TE HORO WAIKANAE BEACH

$727,500 $495,000 $485,000 $660,000 $605,000 $670,000 $1,002,500 $675,000 $670,000 $970,000 $730,000

10.65% 10.00% 11.49% 7.32% 14.15% 10.74% 6.65% 12.50% 12.61% -0.51% 12.31%

$1,850,000 $710,826 $675,000 $800,000 $1,060,000 $1,800,000 $1,185,000 $1,450,000 $1,100,000 $1,225,000 $1,488,000

-1.90% -3.80% -4.30% -1.90% 1.50% -0.50% -1.90% -5.10% 8.30% -1.90% -2.50%

LOWER HUTT ALICETOWN AVALON BELMONT BOULCOTT DAYS BAY EASTBOURNE EPUNI FAIRFIELD GRACEFIELD HARBOUR VIEW HAYWARDS HUTT CENTRAL KELSON KOROKORO LOWRY BAY MAHINA BAY MANOR PARK MAUNGARAKI MELLING MOERA NAENAE NORMANDALE PENCARROW HEAD PETONE POINT HOWARD SEAVIEW SORRENTO BAY STOKES VALLEY SUNSHINE BAY TAITA TIROHANGA WAINUIOMATA WAINUIOMATA COAST WAIWHETU WATERLOO WOBURN YORK BAY

$745,000 $640,000 $755,000 $755,000 $1,005,000 $947,500 $710,000 $710,000 $540,000 $770,000 $540,000 $880,000 $710,000 $815,000 $1,285,000 $935,000 $745,000 $765,000 $640,000 $605,000 $540,000 $755,000 $3,420,000 $780,000 $900,000 $795,000 $982,500 $550,000 $865,000 $535,000 $800,000 $520,000 $815,000 $675,000 $760,000 $990,000 $875,000

7.19% 9.40% 18.90% 10.22% 6.91% 9.54% 10.94% 13.60% 6.40% 16.67% 8.00% 9.32% 14.52% 17.69% 7.98% 7.47% 9.16% 10.87% 58.02% 10.00% 14.89% 18.90% 0.00% 3.31% 6.51% -4.22% 13.26% 14.58% 13.07% 13.83% 13.07% 19.54% -5.78% 13.45% 12.59% 13.14% 10.41%

$860,000 $892,000 $1,420,000 $1,220,000 $1,230,000 $1,460,000 $980,800 $870,000 N/A $835,000 N/A $1,636,000 $905,000 $1,150,000 $1,840,000 N/A $866,500 $900,000 $750,000 $685,000 $856,000 $900,000 N/A $1,100,000 N/A N/A N/A $981,000 N/A $700,000 $1,420,000 $950,000 $970,000 $933,000 $1,080,000 $1,580,000 $820,000

0.00% 5.20% 1.00% 1.80% 1.00% -2.90% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% -0.20% 1.00% 1.00% 1.00% 1.00% 3.10% 1.00% 1.00% 3.20% 0.80% 1.00% 1.90% 1.00% 1.00% 1.00% 2.60% 1.00% 1.40% 1.00% 2.60% 1.00% -2.00% -3.40% 0.00% 1.00%

$460,000 $605,000 $782,500 $395,000 $760,000 $390,000 $745,000 $645,000 $415,000 $765,000 $370,000 $845,000

16.46% 12.56% 10.99% 17.91% 8.57% 11.43% 4.20% 15.18% 13.70% 11.68% 25.42% 7.64%

$960,000 $550,000 $860,000 $760,000 N/A N/A $585,000 $1,150,500 $980,000 $675,000 $305,000 $875,000

-1.20% 1.10% 1.10% -3.30% 1.10% 1.10% 1.10% 1.10% 3.20% 1.10% 1.10% 1.10%

$950,000 $525,000 $775,000 $495,000 $520,000 $1,360,000 $770,000 $770,000 $850,000 $695,000 $510,000 $510,000 $610,000 $450,000 $780,000

7.95% 11.70% 4.03% 20.73% 14.29% 7.51% 10.00% 7.69% 8.28% 6.11% 10.87% 14.61% 17.31% 12.50% 9.09%

$1,300,000 $580,000 $1,600,000 $635,000 $587,500 $1,380,000 $910,000 $881,400 $1,215,000 $1,460,000 $645,000 $620,000 $905,888 $565,000 $1,200,000

2.50% -0.40% -0.40% -0.40% -0.40% -0.40% -0.40% -0.40% -0.40% -0.40% -0.40% -0.40% -5.10% -0.40% 1.20%

LOCATION OPUNAKE PATEA STRATFORD WAVERLEY

GREATER WELLINGTON

MASTERTON CARTERTON CASTLEPOINT HOMEBUSH MASTERTON MATAHIWI MATAIKONA OPAKI RIVERSDALE BEACH SOLWAY TE WHITI TINUI UPPER PLAIN PORIRUA AOTEA ASCOT PARK CAMBORNE CANNONS CREEK ELSDON JUDGEFORD PAPAKOWHAI PAREMATA PLIMMERTON PUKERUA BAY RANUI TAKAPUWAHIA TITAHI BAY WAITANGIRUA WHITBY

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

SOUTH WAIRARAPA CAPE PALLISER FEATHERSTON GREYTOWN LAKE FERRY LAKE RESERVE MARTINBOROUGH PIRINOA

$400,000 $420,000 $645,000 $345,000 $715,000 $645,000 $412,500

11.11% 18.31% 17.27% 4.55% 5.93% 17.81% 16.20%

$600,050 $765,000 $1,470,000 $415,000 N/A $1,300,000 $750,000

0.00% 2.40% 0.10% 0.00% 0.00% -1.40% 0.00%

UPPER HUTT AKATARAWA BIRCHVILLE BLUE MOUNTAINS BROWN OWL CLOUSTON PARK EBDENTOWN ELDERSLEA HERETAUNGA KAITOKE KINGSLEY HEIGHTS MANGAROA MAORIBANK MAYMORN MOONSHINE VALLEY PINEHAVEN RIVERSTONE TERRACES SILVERSTREAM TE MARUA TIMBERLEA TOTARA PARK TRENTHAM UPPER HUTT WALLACEVILLE WHITEMANS VALLEY

$852,500 $565,000 $717,500 $665,000 $585,000 $615,000 $630,000 $705,000 $915,000 $725,000 $1,215,000 $570,000 $990,000 $930,000 $655,000 $825,000 $725,000 $600,000 $485,000 $595,000 $620,000 $607,500 $590,000 $1,120,000

6.90% 16.49% 14.80% 15.65% 14.71% 19.42% 16.67% 8.46% 3.39% 9.43% 8.00% 17.53% 8.20% 8.14% 10.08% 7.84% 6.62% 13.21% 8.99% 14.42% 15.89% 13.55% 12.38% 11.44%

$600,000 $990,000 $1,195,560 $890,000 $1,170,000 $850,000 $925,000 $1,750,000 N/A $825,000 N/A $700,710 $690,000 $1,160,000 $795,000 $1,160,000 $1,400,000 $1,042,500 $1,010,000 $891,000 $1,010,000 $700,000 $630,000 $1,435,000

1.70% -1.40% 1.70% 1.70% -0.50% 1.60% 0.40% 0.80% 1.70% 1.70% 1.70% 1.70% 1.70% 1.70% 1.70% 0.00% 1.40% 1.70% 1.70% 1.50% -0.10% 1.70% 1.70% 1.70%

WELLINGTON ARO VALLEY BERHAMPORE BREAKER BAY BROADMEADOWS BROOKLYN CHURTON PARK CROFTON DOWNS GLENSIDE GRENADA NORTH GRENADA VILLAGE HATAITAI HIGHBURY HOROKIWI HOUGHTON BAY ISLAND BAY JOHNSONVILLE KAIWHARAWHARA KARAKA BAYS KARORI KELBURN KHANDALLAH KILBIRNIE KINGSTON LYALL BAY MAKARA MAKARA BEACH MAUPUIA MELROSE MIRAMAR MOA POINT MORNINGTON MOUNT COOK MOUNT VICTORIA NEWLANDS NEWTOWN NGAIO NGAURANGA NORTHLAND OHARIU ORIENTAL BAY OWHIRO BAY PAPARANGI PIPITEA RONGOTAI ROSENEATH SEATOUN SOUTHGATE STRATHMORE PARK TAKAPU VALLEY TAWA TE ARO THORNDON VOGELTOWN WADESTOWN

$802,500 $820,000 $1,060,000 $750,000 $905,000 $895,000 $870,000 $552,500 $555,000 $835,000 $1,010,000 $995,000 $900,000 $895,000 $970,000 $705,000 $1,350,000 $1,332,500 $895,000 $1,260,000 $1,065,000 $800,000 $805,000 $875,000 $1,160,000 $630,000 $810,000 $922,500 $885,000 $935,000 $830,000 $665,000 $965,000 $720,000 $865,000 $880,000 $635,000 $935,000 $1,625,000 $1,897,500 $782,500 $735,000 $640,000 $790,000 $1,195,000 $1,400,000 $895,000 $820,000 $950,000 $730,000 $595,000 $780,000 $815,000 $1,080,000

6.29% 8.61% 7.07% 6.76% 7.74% 7.83% 5.45% 7.28% 3.74% 11.33% 10.38% 11.48% 0.00% 6.55% 8.99% 5.22% 6.51% 7.89% 9.15% 5.88% 7.58% 8.11% 6.62% 8.70% 73.13% 14.55% 6.58% 9.17% 10.63% 14.72% 9.57% 4.72% 2.66% 12.50% 10.19% 4.76% 12.39% 11.98% 20.82% 1.47% 7.19% 8.09% 1.99% 8.97% 5.75% 6.06% 4.07% 7.19% -22.13% 8.15% 4.39% 6.85% 9.76% 11.63%

$1,060,000 $1,390,000 $1,117,500 $822,222 $1,860,500 $1,450,000 $1,400,000 $415,000 $585,000 $1,180,000 $1,725,000 $881,500 N/A $991,000 $1,425,000 $1,095,000 $1,700,000 $1,900,000 $2,490,000 $3,000,000 $5,750,000 $1,700,000 $965,000 $1,115,000 $1,200,000 $750,000 $1,075,000 $1,183,000 $1,371,000 N/A N/A $1,760,000 $1,705,000 $1,107,470 $1,255,000 $1,300,000 N/A $1,311,000 $711,000 $2,060,000 $1,020,000 $1,100,000 $774,950 $1,205,500 $3,120,000 $1,865,000 $1,750,000 $1,475,000 N/A $1,535,500 $1,981,000 $2,300,000 $1,408,180 $2,160,000

1.10% 1.10% 1.10% 1.10% 2.40% -2.30% 1.10% 1.10% 1.10% 1.10% -2.70% 1.10% 1.10% 1.10% 4.20% 2.20% 1.10% 1.10% 2.20% 0.00% 1.50% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% -3.50% 1.10% 1.10% 1.20% 1.40% -1.80% -2.50% 4.20% 1.10% 1.10% 1.10% 1.10% 1.10% -8.30% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% -1.50% -0.40% 0.20% 1.10% -2.70%

LOCATION

LOCATION

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

WELLINGTON CENTRAL WILTON WOODRIDGE

$345,000 $845,000 $795,000

0.00% 6.29% 8.16%

$983,500 $930,000 $800,000

-8.80% 1.10% 1.10%

$585,000 $430,000 $685,000 $975,000 $495,000 $455,000 $405,000 $625,000 $750,000 $390,000 $720,000 $387,500 $410,000 $442,500 $920,000 $525,000 $430,000 $470,000 $875,000 $395,000 $355,000 $405,000 $540,000 $425,000 $710,000 $870,000 $747,500 $445,000 $515,000

5.41% 8.86% 4.58% 4.00% 0.00% 4.60% 5.19% 0.00% 6.38% 7.59% -14.29% -25.48% 5.13% 4.12% -5.64% 7.14% 4.88% -1.05% 11.82% 9.72% 12.70% -1.22% 2.86% -5.56% 24.56% -7.94% 3.10% 0.00% 8.42%

N/A $755,000 $855,000 $1,410,000 $520,000 $570,000 $570,000 N/A $850,000 $710,000 N/A $745,000 $790,000 N/A $460,000 $1,271,000 $668,000 $730,000 $900,000 $703,000 $432,000 $550,000 $1,031,000 $425,000 $427,000 $410,000 $382,500 $400,000 $804,000

0.60% 0.40% 0.60% 0.60% 0.60% 0.60% 0.60% 0.60% 0.60% 0.00% 0.60% 0.60% 0.00% 0.60% 0.60% 0.60% 2.90% 0.50% 0.60% 0.60% 0.60% 0.60% 5.70% 0.60% 0.60% 0.60% 0.60% 0.60% 3.60%

NELSON ANNESBROOK ATAWHAI BEACHVILLE BISHOPDALE BRITANNIA HEIGHTS ENNER GLYNN GLENDUAN HIRA MAITAI MARYBANK MOANA MONACO NELSON NELSON SOUTH STEPNEYVILLE STOKE TAHUNANUI THE BROOK THE WOOD TODDS VALLEY TOI TOI WAKAPUAKA WAKATU WASHINGTON VALLEY

$540,000 $705,000 $632,500 $600,000 $1,080,000 $670,000 $775,000 $797,500 $670,000 $720,000 $945,000 $570,000 $850,000 $525,000 $855,000 $590,000 $515,000 $557,500 $630,000 $725,000 $450,000 $895,000 $535,000 $495,000

4.85% 6.02% 6.30% 2.56% 3.85% 5.51% 1.97% 14.75% 3.88% 5.88% 6.78% 2.70% 9.68% 3.45% 0.59% 5.36% 5.10% 5.19% 3.28% 6.62% 2.27% 15.11% 3.88% 4.21%

$780,000 $1,350,000 $727,500 $806,000 $2,100,000 $1,150,000 N/A $830,000 $612,000 $1,220,000 $1,090,000 $1,162,500 $1,250,000 $1,900,000 $1,887,000 $1,300,000 $921,000 $830,000 $1,425,000 N/A $645,000 $2,250,000 $652,455 $645,500

-0.70% -0.20% -0.70% -0.70% -0.70% -0.80% -0.70% -0.70% -0.70% -0.70% -0.70% -1.70% -0.70% 0.90% -0.70% -0.30% -0.90% -0.70% -0.50% -0.70% 2.10% -0.70% -0.70% 0.40%

TASMAN ANISEED VALLEY APPLEBY BRIGHTWATER COLLINGWOOD DOVEDALE HOPE KAHURANGI NATIONAL PARK KAITERITERI LOWER MOUTERE MAHANA MAPUA MOTUEKA NGATIMOTI PARAPARA REDWOOD VALLEY RICHMOND RUBY BAY ST ARNAUD TAKAKA TAPAWERA TASMAN THORPE UPPER MOUTERE WAKEFIELD

$1,005,000 $1,152,500 $685,000 $687,500 $687,500 $950,000 $780,000 $965,000 $870,000 $1,045,000 $780,000 $550,000 $725,000 $630,000 $1,207,500 $655,000 $990,000 $465,000 $460,000 $405,000 $1,167,500 $615,000 $1,025,000 $640,000

3.61% 16.12% 14.17% 40.31% 1.48% 9.51% -6.59% -3.50% 23.40% 8.01% 1.96% 10.00% 0.00% 0.40% 18.38% 5.65% 3.13% 2.20% 8.24% -3.57% 2.41% 1.65% 5.94% 5.79%

N/A $1,405,000 $1,425,000 N/A $900,000 $1,300,000 N/A $1,045,000 $980,000 $1,060,000 $890,000 $1,125,000 $845,000 N/A $1,820,000 $1,725,000 $1,400,000 $650,000 $780,000 $420,000 $1,235,000 $530,000 $1,125,000 $1,390,000

1.50% 1.50% 0.00% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 5.00% 1.50% 1.50% 1.50% 6.20% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 3.00%

MARLBOROUGH / NELSON MARLBOROUGH ANAKIWA BLENHEIM BURLEIGH FAIRHALL GROVETOWN HAVELOCK ISLINGTON KENEPURU HEAD MAHAU SOUND MAYFIELD MILLS BAY OKIWI BAY PICTON PORT UNDERWOOD RAPAURA RARANGI REDWOODTOWN RENWICK RIVERLANDS RIVERSDALE SEDDON SPRING CREEK SPRINGLANDS TENNYSON INLET TUAMARINA WAIHOPAI VALLEY WAIRAU VALLEY WARD WITHERLEA

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

BULLER CAPE FOULWIND CARTERS BEACH KARAMEA REEFTON WAIMANGAROA WESTPORT

$490,000 $295,000 $240,000 $180,000 $265,000 $210,000

3.16% 0.00% 17.07% 20.00% 0.00% 5.00%

$650,000 $330,000 $395,000 $315,000 $325,000 $507,000

-0.30% -0.30% -0.30% 0.40% -0.30% -0.10%

GREY BARRYTOWN BLAKETOWN COAL CREEK COBDEN DOBSON DUNOLLIE GLADSTONE GREYMOUTH KAIATA KARORO MARSDEN MOANA NGAHERE PAROA RUNANGA STILLWATER TAYLORVILLE

$295,000 $170,000 $242,500 $150,000 $160,000 $150,000 $307,500 $250,000 $217,500 $340,000 $490,000 $435,000 $187,500 $400,000 $150,000 $120,000 $125,000

-21.33% 9.68% -21.77% 15.38% 33.33% 15.38% 7.89% 6.38% -9.38% 7.94% -4.85% 19.18% 13.64% 5.26% 15.38% 4.35% 8.70%

$525,000 $283,000 $239,000 $270,000 $240,000 $189,000 $485,000 $480,000 $127,000 $465,000 $555,000 $365,000 N/A $487,000 $430,000 N/A $145,000

-0.90% -0.90% -0.90% -0.90% -0.90% -0.90% -0.90% -1.80% -0.90% -0.90% -0.90% -0.90% -0.90% -0.90% -0.90% -0.90% -0.90%

WESTLAND FOX GLACIER FRANZ JOSEF GLACIER HAAST HOKITIKA JACKSON BAY KANIERE KUMARA OKARITO WHATAROA

$375,000 $340,000 $240,000 $280,000 $240,000 $300,000 $190,000 $350,000 $132,500

-5.06% -4.90% -5.88% 9.80% -11.11% -1.64% 15.15% -4.11% 1.92%

N/A N/A $450,000 $740,000 $435,000 $480,400 $179,000 $400,000 N/A

-1.50% -1.50% -1.50% -1.50% -1.50% -1.50% -1.50% -1.50% -1.50%

$385,000 $335,000 $730,000 $295,000 $415,000 $325,000 $335,000 $355,000

4.05% 6.35% 1.39% 1.72% 6.41% 6.56% -1.47% 4.41%

$640,000 $520,000 $910,000 $403,000 $600,000 $600,000 $365,000 $580,000

3.30% 2.50% 2.20% 2.00% -0.30% 8.40% 2.20% 2.60%

$365,000 $655,000 $660,000 $635,000 $300,000 $470,000 $365,000 $550,000 $360,000 $555,000 $440,000 $267,500 $495,000 $455,000 $892,500 $325,000 $372,500 $460,000 $480,000 $530,000 $420,000 $480,000 $695,000 $730,000 $565,000 $425,000 $737,500 $480,000 $1,285,000 $535,000 $395,000 $510,000 $525,000 $365,000 $1,015,000 $705,000 $612,500 $705,000

4.29% -0.76% 14.78% -1.17% 9.09% 0.00% 4.29% -0.90% 7.46% 4.23% 4.76% 0.94% 182.86% 0.00% 4.39% 0.00% -7.45% 0.00% 0.00% 0.00% 3.70% 0.00% 2.21% 2.10% 3.67% 6.25% -3.59% -3.03% 17.89% 4.90% 2.60% 6.25% 25.00% 4.29% 1.00% 6.02% 26.94% 0.00%

$470,000 $821,000 $1,305,000 $610,000 $421,000 N/A $540,000 $1,100,000 $425,000 $662,500 $700,000 N/A $143,000 $1,020,000 $1,425,000 $405,500 $380,000 $715,000 $1,340,000 $1,850,000 $720,000 $1,175,000 $1,600,000 N/A $725,000 $1,720,000 $1,000,000 N/A N/A $583,000 $425,000 $645,000 N/A $655,000 $2,187,500 N/A N/A $610,500

-5.00% 0.90% -2.00% 0.50% 1.70% 0.50% 1.70% 0.20% 0.50% 0.50% -5.30% 0.50% 0.50% 4.10% 0.50% -1.30% 0.50% 1.70% -0.60% 1.10% 4.20% 2.40% 10.10% 0.50% 0.50% -0.40% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 4.50% -1.20% 0.50% 0.50% 0.50%

LOCATION

WEST COAST

CANTERBURY ASHBURTON ALLENTON ASHBURTON ELGIN HAMPSTEAD METHVEN NETHERBY RAKAIA TINWALD CHRISTCHURCH ADDINGTON AIDANFIELD AKAROA ALLANDALE ARANUI ATAAHUA AVONDALE AVONHEAD AVONSIDE BECKENHAM BELFAST BEXLEY BIRDLINGS FLAT BISHOPDALE BOTTLE LAKE BROMLEY BROOKLANDS BROOMFIELD BRYNDWR BURNSIDE BURWOOD CASEBROOK CASHMERE CASS BAY CHARTERIS BAY CHRISTCHURCH CENTRAL CLIFTON CORSAIR BAY COUTTS ISLAND CRACROFT DALLINGTON DIAMOND HARBOUR DUVAUCHELLE EDGEWARE FENDALTON FERRYMEAD FRENCH FARM GEBBIES VALLEY

LOCATION GOVERNORS BAY HALSWELL HAREWOOD HEATHCOTE VALLEY HEI HEI HICKORY BAY HILLMORTON HILLSBOROUGH HOON HAY HORNBY HORNBY SOUTH HUNTSBURY ILAM ISLINGTON KAINGA KENNEDYS BUSH LE BONS BAY LINWOOD LITTLE AKALOA LITTLE RIVER LONG BAY LYTTELTON MAIREHAU MARSHLAND MCLEANS ISLAND MERIVALE MIDDLETON MONCKS BAY MOUNT PLEASANT NEW BRIGHTON NORTH NEW BRIGHTON NORTHCOTE NORTHWOOD OKAINS BAY OKUTI VALLEY OPAWA OURUHIA PAPANUI PARKLANDS PERAKI PHILLIPSTOWN PIGEON BAY PORT LEVY PRICES VALLEY PURAU RAPAKI REDCLIFFS REDWOOD RICCARTON RICHMOND RICHMOND HILL ROBINSONS BAY RUSSLEY SAINT MARTINS SCARBOROUGH SHIRLEY SOCKBURN SOMERFIELD SOUTH NEW BRIGHTON SOUTHSHORE SPENCERVILLE SPREYDON ST ALBANS STROWAN SUMNER SYDENHAM TAKAMATUA TAYLORS MISTAKE TE OKA TEDDINGTON TEMPLETON UPPER RICCARTON WAIMAIRI BEACH WAINONI WAINUI WALTHAM WESTMORLAND WIGRAM WOOLSTON YALDHURST HURUNUI AMBERLEY BALCAIRN CHEVIOT HANMER SPRINGS HAWARDEN LEITHFIELD WAIPARA

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$675,000 $545,000 $645,000 $500,000 $385,000 $485,000 $460,000 $495,000 $440,000 $410,000 $515,000 $715,000 $625,000 $390,000 $320,000 $1,095,000 $380,000 $325,000 $455,000 $570,000 $220,000 $490,000 $435,000 $650,000 $920,000 $850,000 $250,000 $660,000 $692,500 $345,000 $375,000 $385,000 $650,000 $395,000 $540,000 $520,000 $935,000 $470,000 $480,000 $560,000 $305,000 $335,000 $490,000 $655,000 $485,000 $555,000 $680,000 $445,000 $450,000 $375,000 $835,000 $610,000 $485,000 $485,000 $1,012,500 $405,000 $430,000 $490,000 $380,000 $437,500 $555,000 $435,000 $525,000 $765,000 $670,000 $380,000 $525,000 $540,000 $710,000 $580,000 $465,000 $460,000 $630,000 $335,000 $560,000 $340,000 $735,000 $620,000 $355,000 $595,000

-1.46% 2.83% 0.78% 2.04% 0.00% -20.49% 3.37% 3.13% 7.32% 2.50% -1.44% 0.00% 0.00% 0.00% 0.79% 0.00% -30.28% 4.84% -8.08% 44.30% -61.23% 5.38% 6.10% -1.52% -2.90% 3.66% 2.04% 2.33% -1.07% 4.55% 5.63% 1.32% -1.52% -19.80% -4.85% 0.97% 10.65% 1.08% 2.13% 8.21% 7.02% -49.24% 0.00% -3.68% 0.00% 7.77% 1.49% 1.14% 0.00% 5.63% 3.41% 19.61% 1.04% 5.43% 0.75% 3.85% 0.00% 5.38% 4.11% -0.57% 7.25% 3.57% 3.96% 1.32% 7.20% 4.11% 10.53% -0.92% -0.70% 3.57% 4.49% 0.00% 0.00% 6.35% 23.08% 6.25% 0.68% 2.48% 7.58% 5.31%

$550,000 $1,750,000 $1,400,000 $495,000 $549,000 N/A $725,000 $925,000 $620,000 $845,000 N/A $930,000 $1,775,000 $370,000 $336,000 $1,175,000 N/A $580,000 N/A $685,000 N/A $858,000 $915,000 $1,660,000 N/A $4,600,000 N/A $865,000 $1,230,000 $700,000 $555,000 $460,000 $1,700,000 $425,000 N/A $970,000 $1,000,000 $1,600,000 $870,000 N/A $659,000 $605,000 N/A N/A N/A N/A $845,000 $640,000 $1,200,000 $750,000 $600,000 N/A $670,000 $775,000 $2,300,000 $825,000 $600,000 $870,000 $630,000 $620,000 $245,000 $620,000 $1,660,000 $1,800,000 $1,400,000 $900,000 $510,000 N/A N/A N/A $530,000 $1,016,800 $1,260,000 $408,500 $956,792 $445,000 $1,065,000 $775,000 $750,000 $647,518

0.50% 0.00% 0.00% 0.50% -2.80% 0.50% 0.50% 2.00% 0.40% 3.20% 0.50% 0.50% -4.40% 0.50% 0.50% 0.50% 0.50% -0.70% 0.50% 0.50% 0.50% 0.40% -0.50% 1.90% 0.50% 5.40% 0.50% 0.50% 7.00% -6.00% -6.30% 0.50% -0.70% 0.50% 0.50% 0.50% 0.50% -8.60% 4.20% 0.50% 1.10% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 2.40% -4.80% 1.60% 0.50% 0.50% 0.20% 6.30% 0.50% -0.30% -0.60% 0.10% 0.50% 0.50% 0.50% -4.20% -4.40% 15.40% -3.30% 0.20% 0.50% 0.50% 0.50% 0.50% 0.50% -2.90% 0.50% 0.50% 0.50% 2.30% 0.50% -0.30% -2.60% 0.50%

$455,000 $665,000 $235,000 $505,000 $450,000 $385,000 $480,000

4.60% 5.98% -12.96% 2.02% 109.30% 4.05% 54.84%

$695,000 N/A $350,000 $758,000 $1,155,000 $636,000 $325,000

-0.10% -0.10% -0.10% -0.90% -0.10% -0.10% -0.10%

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

KAIKOURA KAIKOURA

$465,000

6.90%

$596,500

0.60%

MACKENZIE ALBURY ASHWICK FLAT BEN OHAU FAIRLIE LAKE TEKAPO TWIZEL

$180,000 $525,000 $820,000 $380,000 $830,000 $525,000

-65.38% -4.55% 3.14% 8.57% -0.60% 8.25%

$450,000 $682,000 $940,000 $750,000 $1,200,000 $708,000

0.60% 0.60% 0.60% 0.60% 0.60% 0.60%

SELWYN BURNHAM CASTLE HILL DARFIELD DOYLESTON DUNSANDEL GLENTUNNEL HORORATA KIRWEE LAKE COLERIDGE LEESTON LINCOLN MOTUKARARA PREBBLETON ROLLESTON SHEFFIELD SOUTHBRIDGE SPRINGFIELD TAI TAPU WEST MELTON WINDWHISTLE

$800,000 $370,000 $535,000 $545,000 $692,500 $340,000 $350,000 $650,000 $280,000 $475,000 $640,000 $820,000 $735,000 $560,000 $340,000 $395,000 $355,000 $735,000 $875,000 $622,500

2.56% 0.00% 0.00% 19.78% 45.79% -2.16% -15.66% -2.99% 0.00% 2.15% 0.00% 18.84% -3.29% 0.90% -39.01% 5.33% -41.80% 4.26% 2.94% -7.09%

$690,000 N/A $890,000 N/A $870,000 N/A $740,000 $950,000 N/A $781,000 $1,630,000 $595,000 $1,535,000 $1,350,000 $480,000 $735,000 $580,000 $2,250,000 $1,475,000 $339,000

0.10% 0.10% -1.90% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 2.10% -2.90% 0.10% -3.90% -0.20% 0.10% 0.10% 0.10% 0.10% -0.60% 0.10%

TIMARU FAIRVIEW GERALDINE GLENITI GLENWOOD HADLOW HIGHFIELD KENSINGTON LEVELS MAORI HILL MARCHWIEL PARKSIDE PEEL FOREST PLEASANT POINT REDRUTH ROSEWILL SEAVIEW TEMUKA WAIMATAITAI WASHDYKE WATLINGTON WEST END

$667,500 $410,000 $515,000 $400,000 $1,055,000 $415,000 $320,000 $585,000 $395,000 $345,000 $325,000 $437,500 $395,000 $295,000 $790,000 $330,000 $330,000 $345,000 $360,000 $325,000 $340,000

-1.11% 9.33% 4.04% 3.90% 0.96% 2.47% 6.67% -1.68% 3.95% 2.99% 4.84% 5.42% 8.22% 11.32% 0.00% 6.45% 3.13% 4.55% 3.60% 3.17% 1.49%

N/A $582,000 $1,800,000 $660,000 $730,000 $1,250,000 $399,000 $775,000 $579,000 $660,000 $420,000 $667,500 $720,000 $245,500 N/A $516,500 $740,000 $546,000 $769,000 $640,000 $512,500

0.20% 0.60% -1.50% 0.20% 0.20% 4.20% -0.30% 0.20% 0.20% 5.60% 0.20% 0.20% 0.00% 0.20% 0.20% -7.60% 1.70% -0.70% 0.20% 0.00% 2.60%

WAIMAKARIRI ASHLEY CLARKVILLE CUST FERNSIDE KAIAPOI LOBURN OHOKA OKUKU OXFORD PEGASUS RANGIORA SEFTON SWANNANOA TUAHIWI WAIKUKU WAIKUKU BEACH WEST EYRETON WOODEND BEACH

$697,500 $972,500 $740,000 $820,000 $460,000 $740,000 $895,000 $707,500 $450,000 $515,000 $465,000 $700,000 $800,000 $550,000 $737,500 $405,000 $745,000 $385,000

4.10% -3.23% 3.50% -0.61% 3.37% -0.67% -6.28% 0.35% 5.88% 3.00% 3.33% 2.19% -0.62% 6.80% 1.72% 6.58% 6.81% 17.56%

$855,000 $1,165,000 $750,000 $872,500 $985,000 $925,000 $1,170,000 $685,000 $575,000 $1,240,000 $725,000 $1,080,000 $1,650,000 $685,000 $900,000 $390,000 $1,550,000 N/A

-0.20% -0.20% -0.20% -0.20% -0.40% -0.20% -0.20% -0.20% -1.00% 1.20% 2.30% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20% -0.20%

WAIMATE GLENAVY MAKIKIHI OTAIO WAIMATE

$245,000 $390,000 $480,000 $295,000

32.43% 18.18% 20.00% 15.69%

$325,000 $238,000 N/A $490,000

0.60% 0.60% 0.60% 0.60%

$510,000 $1,020,000 $595,000 $665,000 $247,500 $335,000

12.09% 51.11% 4.39% 12.71% -59.59% 19.64%

$720,000 $850,000 $860,000 $2,350,000 N/A $445,000

4.00% 2.20% 2.20% -0.90% 2.20% 2.20%

LOCATION

OTAGO CENTRAL OTAGO ALEXANDRA BANNOCKBURN CLYDE CROMWELL ETTRICK NASEBY

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

OPHIR QUEENSBERRY RANFURLY ROXBURGH

$740,000 $1,180,000 $265,000 $315,000

-5.13% 10.80% 17.78% 6.78%

$800,000 $710,000 $520,000 $480,000

2.20% 2.20% -0.30% 2.20%

CLUTHA BALCLUTHA CLINTON KAITANGATA KAKA POINT LAWRENCE MILTON OWAKA PAPATOWAI TAIERI MOUTH TAPANUI WAIHOLA WAIPORI FALLS

$315,000 $135,000 $180,000 $380,000 $185,000 $280,000 $215,000 $425,000 $427,500 $230,000 $405,000 $105,000

21.15% 17.39% 28.57% 22.58% -13.95% 14.29% 28.36% 34.92% 23.91% 24.32% 14.08% 10.53%

$585,000 $266,000 $215,500 $570,000 $410,000 $650,000 $520,000 N/A $162,000 $295,000 $615,000 $153,000

3.80% 0.70% 0.70% 0.70% 0.70% 1.10% 0.70% 0.70% 0.70% 0.70% 0.70% 0.70%

$490,000 $620,000 $570,000 $520,000 $650,000 $1,030,000 $485,000 $527,500 $440,000 $450,000 $400,000 $490,000 $380,000 $907,500 $410,000 $695,000 $490,000 $435,000 $465,000 $550,000 $780,000 $590,000 $390,000 $600,000 $560,000 $480,000 $485,000 $450,000 $380,000 $560,000 $672,500 $470,000 $445,000 $515,000 $545,000 $410,000 $340,000 $595,000 $510,000 $795,000 $520,000 $490,000 $555,000 $782,500 $535,000 $430,000 $625,000 $445,000 $1,100,000 $415,000 $540,000 $560,000 $630,000 $490,000 $480,000 $520,000 $482,500 $440,000 $522,500 $700,000 $945,000 $660,000 $430,000 $570,000 $495,000 $840,000 $620,000 $360,000 $510,000 $810,000 $405,000

19.51% 22.77% 16.33% 23.81% 21.50% 29.56% 25.97% 11.64% 29.41% 14.65% 23.08% 27.27% 18.75% 27.82% 22.39% 13.01% 18.07% 24.29% 25.68% 15.79% 11.43% 10.80% 16.42% 16.50% 17.28% 21.52% 18.29% 42.86% 8.57% 21.74% 13.50% 17.50% 20.27% 18.39% 18.48% 26.15% 17.24% 12.26% 18.60% 15.64% 18.18% 20.99% 19.35% 1.62% 16.30% 13.91% 8.70% 14.10% 13.40% 10.67% 25.58% 17.89% 38.46% 12.64% 29.73% 9.47% 53.17% 20.55% 17.42% 19.66% 28.57% 20.00% 17.81% 21.28% 23.75% 29.23% 13.76% 26.32% 18.60% 10.20% 20.90%

$691,500 $660,000 $840,000 $551,000 $870,000 $1,100,000 $405,000 $440,000 $630,000 N/A $541,000 $550,000 $630,000 $1,160,000 $385,000 N/A $520,000 $845,000 $523,000 $950,000 $1,125,000 $1,210,000 $555,000 $605,000 $700,000 $895,000 $635,000 N/A $600,000 $685,000 N/A $725,000 $600,000 $1,002,250 $755,000 $600,200 N/A $605,000 $450,000 $1,500,000 $1,000,000 $1,065,000 $1,155,000 N/A $850,000 $485,000 $1,107,000 $860,000 $1,250,000 N/A $570,000 $810,000 $1,300,000 $550,000 $574,000 $650,000 N/A $550,000 $760,000 $1,700,000 N/A $1,460,000 $720,000 $810,000 $712,000 N/A $825,000 $511,215 $580,000 $690,000 N/A

-2.50% -2.50% -0.40% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% 0.50% -2.50% -2.20% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -4.60% -2.50% 5.20% -2.50% -2.50% -2.50% -3.90% -2.50% -2.50% -2.50% -2.50% -2.50% -0.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% 0.60% -2.50% 0.60% 1.30% -2.50% -2.50% -2.50% -2.30% -2.90% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% -2.50% 1.40% -2.50% -4.40% 0.00% -2.50% -2.50% -2.50% -2.50% 1.60% -2.50% -2.50% -2.50%

LOCATION

DUNEDIN ABBOTSFORD ALLANTON ANDERSONS BAY BALACLAVA BELLEKNOWES BLACKHEAD BRADFORD BROAD BAY BROCKVILLE BURNSIDE CALTON HILL CAREYS BAY CAVERSHAM CHAIN HILLS CLYDE HILL COMPANY BAY CONCORD CORSTORPHINE DALMORE DUNEDIN CENTRAL EAST TAIERI FAIRFIELD FORBURY GLENLEITH GLENROSS GREEN ISLAND HALFWAY BUSH HARINGTON POINT HARWOOD HELENSBURGH HIGHCLIFF KAIKORAI KARITANE KENMURE KEW LIBERTON LOOKOUT POINT MACANDREW BAY MAIA MAORI HILL MARYHILL MORNINGTON MOSGIEL MOUNT CARGILL MUSSELBURGH NORMANBY NORTH DUNEDIN NORTH EAST VALLEY NORTH TAIERI OCEAN GROVE OCEAN VIEW OPOHO OUTRAM PINE HILL PORT CHALMERS PORTOBELLO PURAKAUNUI RAVENSBOURNE ROSENEATH ROSLYN SADDLE HILL SAINT CLAIR SAINT KILDA SAINT LEONARDS SAWYERS BAY SCROGGS HILL SHIEL HILL SOUTH DUNEDIN TAINUI THE COVE THE GLEN

LATEST MEDIAN $ VALUE

12-MONTH CHANGE (%)

HIGHEST SETTLED SALE SINCE START OF 2020

COVID INDEX — VALUE CHANGE SINCE MARCH 25 (%)

$730,000 $350,000 $440,000 $495,000 $570,000 $445,000 $635,000 $537,500 $465,000

15.87% 16.67% -32.57% 20.73% 20.00% 4.71% 15.45% 22.16% 24.83%

$1,250,000 $700,000 $480,000 $750,000 $1,090,000 $612,000 $1,260,000 $400,000 $481,000

-2.50% -2.50% -2.50% -2.90% -2.50% -2.50% -2.50% -2.50% -2.50%

$800,000 $1,165,000 $1,060,000 $1,520,000 $1,075,000 $922,500 $860,000 $940,000 $1,752,500 $530,000 $1,180,000 $1,345,000 $2,030,000 $1,540,000 $560,000 $740,000 $1,030,000 $1,010,000 $655,000 $1,032,500 $855,000 $1,050,000

-0.93% 7.87% -2.30% -8.71% 0.00% -66.58% 2.99% -0.53% 3.70% 1.44% 0.43% 1.89% 0.50% -2.53% 0.90% 2.78% 2.49% 0.50% 4.80% 5.90% 4.27% 0.48%

$1,100,000 $4,680,000 $1,450,000 $885,000 $1,810,000 $1,105,000 $1,400,000 $1,230,000 $3,960,000 $1,650,000 $985,000 $1,815,000 $2,350,000 $2,450,000 $710,000 $1,646,000 $1,415,000 $1,422,000 $595,000 $2,600,000 $970,000 $3,800,000

-7.70% 0.80% -7.70% -7.70% -7.70% -7.70% -7.70% -7.70% -7.70% -7.70% -7.70% -2.40% -7.70% -7.70% -7.70% -0.10% -4.60% -7.70% -7.70% -3.40% -7.70% -5.20%

GORE GORE MATAURA

$325,000 $165,000

22.64% 22.22%

$695,000 $314,000

2.80% -0.50%

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

$225,000 $437,500 $370,000 $235,000 $255,000 $280,000 $500,000 $315,000 $340,000 $395,000 $360,000 $290,000 $357,500 $245,000 $290,000 $710,000 $667,500 $325,000 $465,000 $360,000 $295,000 $540,000 $280,000 $420,000 $280,000 $430,000 $430,000 $640,000 $435,000

21.62% 5.42% 22.31% 23.68% 30.77% 27.27% 17.65% 18.87% 19.30% 17.91% 16.13% 28.89% 22.22% 25.64% 24.73% 10.51% -1.11% 22.64% 12.05% 22.03% 25.53% 13.68% 24.44% 18.31% 24.44% 17.81% 17.81% 17.43% 19.18%

$385,000 N/A $570,000 $500,000 $398,000 $515,000 $730,000 $469,000 $528,000 $779,000 $481,500 $430,000 $320,000 $266,500 $363,000 $830,000 $760,000 $415,000 $710,000 $590,250 $322,500 $500,000 $398,000 $475,000 $250,000 $735,000 $636,200 $730,000 $800,013

7.40% 0.50% 0.50% 0.50% 0.50% 2.30% -3.90% -4.40% 1.50% 0.50% 0.50% -0.70% 0.50% 0.50% 0.20% 0.50% 0.50% 4.50% 0.50% -4.70% 0.50% 0.50% 6.10% 0.50% 0.50% -5.50% 0.50% 0.50% -1.40%

SOUTHLAND EDENDALE LUMSDEN MAKAREWA MANAPOURI NIGHTCAPS OTAUTAU RIVERSDALE RIVERTON ROSLYN BUSH RYAL BUSH TE ANAU TUATAPERE WAIKAIA WALLACETOWN WINTON WOODLANDS WYNDHAM

$200,000 $225,000 $580,000 $375,000 $110,000 $250,000 $225,000 $405,000 $705,000 $515,000 $515,000 $240,000 $205,000 $380,000 $400,000 $410,000 $460,000

-5.88% 25.00% 10.48% -0.66% 29.41% 38.89% 12.50% 10.96% 2.92% 3.00% 11.96% 71.43% 0.00% 40.74% 19.40% 28.13% 142.11%

$330,000 $235,000 $435,000 $1,320,000 $135,000 $399,000 $770,000 $825,000 $510,000 N/A $1,550,000 $450,000 $540,000 $605,000 $1,050,000 $148,000 $250,000

-1.70% -1.70% -1.70% -1.70% -1.70% -1.70% -1.70% -1.70% -1.70% -1.70% -0.80% -1.70% -1.70% -1.70% 0.60% -1.70% -1.70%

LOCATION VAUXHALL WAIKOUAITI WAITATI WAKARI WALDRONVILLE WARRINGTON WAVERLEY WESTWOOD WOODHAUGH QUEENSTOWN-LAKES ALBERT TOWN ARROWTOWN ARTHURS POINT BEN LOMOND CARDRONA CLOSEBURN FERNHILL FRANKTON GIBBSTON GLENORCHY HAWEA FLAT JACKS POINT KAWARAU FALLS KELVIN HEIGHTS KINGSTON LAKE HAWEA LAKE HAYES LOWER SHOTOVER LUGGATE QUEENSTOWN SUNSHINE BAY WANAKA

SOUTHLAND

LIVING

RECESSION REBUILDS Top end of town takes to largescale home makeovers in lieu of expensive trips abroad.

T

he abrupt halt to expensive overseas trips as a result of Covid-19 seems to have led to an increased thirst for largescale renovation work, as wealthy Kiwis earmark their holiday money for home makeovers.

Architect Jane Aimer, director of Scarlet Architects, which specialises in high-end renovations of classic villas and bungalows, was shocked by the amount of enquiries her firm received after the country came out of lockdown.

“To our surprise, we had lots of work and it wasn’t long before it we were back to business as usual,” she said.

She’s noticed people’s priorities have shifted as a result of the pandemic. “We were designing a villa renovation for one couple, who changed their minds completely and are moving to the country,” she says.

Aimer notes that her clients appear to be confident they’ll get through the anticipated economic downturn, and since they can’t travel overseas, they’re using the money they’ve saved elsewhere.

Kitchen designers are busy too. Celia Visser, of Celia Visser Design, says that she’s been working a lot with people who got tired of their surroundings

The well-heeled are choosing to spend their holiday money on big ticket items such as pools. Photo / Getty Images

during lockdown.

“I think they saw all the things that were dated, or somehow wrong, and decided to do something about it and their priorities probably changed because of our borders being closed,” she says.

Money doesn’t seem to be an issue, with most of Visser’s customers opting the best products and best materials.

“There’s a definite demand for using New Zealand-made wherever possible, which is what I do anyway, and that

means I haven’t seen any major product shortages, but I know there is a delay in getting certain appliances in from overseas,” she says.

Based on the number of enquiries she’s had, she expects to stay busy for some time.

Landscaper Tony Murrell, of Murrell Gardens, has been similarly busy. “It’s phenomenal and certainly not like a normal winter, when we generally work on booked projects,” he says.

Murrell says that people who

had made plans for their gardens over the early autumn days of lockdown were very keen to get started on those revamps once restrictions were lifted, and his phone was running “red hot”.

“The only problem is that the nurseries we use are running out of stock – especially in hedging, and unfortunately some smaller ones have closed down. I’m having to source plants from further down the North Island, and even the South Island.”

Murrell says that the landscape design industry is so busy at present, he’s unable to find the number of gardeners he needs, but he knows that many people displaced from other industries, which were negatively impacted by Covid19 are re-training, in horticulture, and says he hopes to employ some of them in due course.

Meanwhile, it isn’t just plants that are in short supply.

“I’ve been waiting for over two weeks for some fencing pickets, because the timber people can’t keep up with demand.”

At Pools by Design, director Toby Borrett says the day before lockdown began, he was forced to fill in a pool he’d been digging.

“That was a bit frustrating, but we couldn’t leave a huge hole in the ground over winter!”

Since life has almost returned to normal, he too has found his business rebounding and agrees that in many cases it’s likely being funded by overseas trip savings accounts.

He says that being a bigticket item, only a certain number of people are going to put well upwards of $100,000 into a pool. “And I think they’re also the sort of people who still feel safe in terms of income.”

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IN YOUR NEIGHBOURHOOD CENTRAL HAWKE’S BAY

RURAL HEARTLAND

The two main towns of Central Hawke’s Bay are Waipukurau and Waipawa, with many smaller, charming settlements surrounding them, on a rich inland plain, reports LOUISE RICHARDSON

U

ntil the 1970s this part of the country was amongst New Zealand’s most successful agricultural areas and Waipukarau flourished, meeting the demands of wealthy farmers in the golden 1950s. Unfortunately, the downturn in the 1980s was permanent for many rural industries but the Central Hawke’s Bay region has moved on and found new sources of wealth and success, to supplement agriculture.

Forestry and fishing now make up a significant part of Central

Hawke’s Bay’s economy.

Who lives here and what do they do?

Retirees are big fans of Central Hawke’s Bay; selling their farms and downsizing to townhouses, so it’s not surprising that 23 per cent of residents are over 60 and 41 per cent of properties have only two occupants. Twenty per cent of households have an income ranging between $30,000 and $50,000. Common occupations include labourers, at 22 per cent, and managers at 17 per cent.

$400k

Current median property value for the area

12.7%

12-month value change

110.5% 5-year value change

8.1%

Value change since March 25, on the Covid index

$900k

Highest settled sale price in the last six months

What’s to love?

Where to start? Geographically, Central Hawke’s Bay offers mountain peaks and sandy beaches, with lots of related outdoor pursuits, including hunting and fishing. There’s mountain biking at Pukeora Hill Park, along with golf and aviation. This is an arty community so there are lots of painters and potters to check out, as well as stately homes to explore and many interesting museums too. Residents also enjoy a wonderful work-life balance and while the cost of housing has been creeping up, there’s still scope for first-home buyers to enter the market, with a wide range of properties available, including everpopular lifestyle blocks.

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Buying and selling Like so many other regional centres, Central Hawke’s Bay is enjoying a quick bounce-back after the Covid-19 lockdown and agents there are as busy as ever.

Joe Snee, Property Brokers’ regional manager, says that there’s plenty of buyer interest, much of it from Aucklanders who are seeking flexibility in order to work remotely, and a more relaxed lifestyle.

“Forty-eight per cent of our sales in June were to people moving from other places.”

He says that multiple offers are common, and one property recently had eight parties keen to buy it.

“It’s lack of stock that’s driving up prices and,

ironically, potential vendors are holding off selling, because they don’t have much choice in terms of finding their next property — basically, there’s nowhere for them to go.”

Meanwhile, James Macpherson, principal at Bayleys, says that postlockdown, people are itching to get into the country where they feel safe and free with space to roam.

“Nobody wants to be locked up in a little apartment, so lifestyle blocks and farms are all doing well.

“Of course, there’s now the very real possibility of working from home, so it means you can live practically wherever you like.”

He says that returning expats

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“Forty-eight per cent of our sales in June were to people moving from other places.” Joe Snee are making enquiries about Central Hawke’s Bay. “We’ve got an offer on one at the moment from a Kiwi in London.”

Stuart Christensen, general manager of Tremains Napier, is noticing all the same dynamics in the current market. “Central Hawke’s Bay is still going well for us and we’re seeing some amazing prices realised,” he says. “And the prices overall are holding, so that’s good.”

He says that multiple offers are common and, demand still outstrips supply. “In a nutshell, it’s all good here.”