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Monday, December 12, 2016

AUCKLANDERS LEAVE RAT RACE HOW TO MOVE A HOUSE SPOTLIGHT ON: DEVONPORT, NEWMARKET AND ST MARYS BAY

INSIDE: Latest QV.co.nz values covering 420 North Island suburbs

SET YOUR SOUL ON FIRE SEE BACK PAGE, OR VISIT THEVULCAN.CO.NZ TO LEARN MORE ABOUT AUCKLAND CITY’S NEW LUXURY PARKSIDE RESIDENCES


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December 12, 2016 | PROPERTY REPORT

Inside Leaky homes crisis continues

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Quakes rattle estate agents

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Tiny homes, happy owners

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New apartments a walk in the park

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Market Watch with Jonno Ingerson

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Cover story — Escaping Auckland

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How to relocate a home

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Tamaki push for housing

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Get the best fixed rate mortgage

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What the industry says

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What your home is worth

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Spotlight on: St Marys Bay Devonport Newmarket

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Editor: Steve.Hart@nzherald.co.nz Contributors: Graham Hepburn, Diana Clement, Sandra Goodwin, Lawrence Watt, Greg Fleming, Jonno Ingerson, Andrea Rush. Cover photo: Ted Baghurst. Cover design: Suzanne Denmead. Photos: NZHerald, Getty and supplied. Production: Donna McIntyre. Display advertising: (09) 373 6004. Source: QV.co.nz / NZHerald graphic

Thousands of Aucklanders leave the city

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n our cover story we look at where Aucklanders are moving to when they sell up to leave the Super City for good. It seems thousands of home-owners are cashing up, buying a home in the regions, and packing $1000s in their back pocket. Many are now living minutes from work and get to spend more time with their family. Read their stories starting on page 6. And if you have ever thought about moving a home onto a vacant plot of land, then our feature on page 9 will be of interest. Find out how to get a home for well under the price of a new one. Surprisingly, up to 90 per cent of all leaky homes are likely still rotting from the inside — years after the Government launched a financial package to fix them. Unfortunately, the 2002 Labour Government chose not to survey any homes to identify those that needed work. And

with plenty of home owners sticking their heads in the sand, many are now not able to draw on any state-funded help to bring their homes up to standard. Read more opposite. It also appears that the leaky homes debacle may be putting banks and councils off supporting the new breed of tiny homes that are fitted with smart technology to reduce energy use and maintenance costs. See page 4.

Jonno Ingerson of property data firm CoreLogic writes on page 5 that uncertainty in the market has had a cooling effect that has been compounded in places such as Wellington and other areas due to the earthquakes. He says despite a surge in new listings, sales remain low across the country. A sign the market has come off the boil? Who knows. With continuing signs that mortgage interest rates are rising it may be time to fix your loan rate — but for what term? Find out more on page 10. Also in this edition, the heads of the country’s top real estate firms look at the year so far and have a stab at predicting how the market will perform in the coming months — see page 11. Our spotlight on Auckland suburbs take in St Marys Bay, Newmarket and Devonport. All that, and more inside...

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December 12, 2016 | PROPERTY REPORT

Watergate: the rot continues The exact number of leaky homes may never be known, writes Diana Clement

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s many as 90 per cent of standalone leaky homes are likely still rotting, says leaky homes specialist lawyer Tim Rainey. And tens of thousands of owners who have stuck their heads in the sand are too late for most forms of redress. The Government’s financial address package closed in July this year. Add in that once a code compliance certificate is issued, there is only a 10-year window of opportunity to file a complaint about a leaky home with the Weathertight Homes Resolution Service, and time is almost up for the majority of home owners. The whole process has been a “monumental failure”, says Rainey. The leaky home crisis was a perfect storm as a result of relaxations in the Building Act of 1991. But it’s not just the buildings’ designs, the lack of cavity, and the monolithic cladding that are the problem, says Gerard Ball, chartered building surveyor at Babbage. When the building’s outer layers are removed, other deficiencies are discovered such as non-compliant materials substituted for ones in the plans, and poor construction methods. It’s estimated that around 80,000 homes and apartments built between 1991 and 2005 used products and methods that have not proved weathertight. About 12,000 of those have been “remediated” (fixed) privately or with the help of government assistance, says Nick Gaites of the New Zealand Institute of Building Surveyors. And the Rainey Law team says almost every street in the central city would have a leaky apartment building. Denial The exact number of leaky homes may never be known, says Rainey, because a recommendation in the 2002 Hunn Report that a survey be done was not carried out by the Government. Thanks to that, many owners are in denial. Some find out when they go to sell or when they seek a CCC for other work and receive a Section 95A notice back, says Gaites, which often means a six-figure repair bill. Lawyer Adina Thorn says many owners are losing a life’s earnings in equity thanks to the cost of remediating the homes combined with the loss in capital gain as a result of the leaky home stigma. Remediation Ironically it’s almost impossible to patch these buildings, says Rainey. If you want to fix a leaky deck, for example, it will require planning permission and the council requires the entire building to be fixed to the current Building Code — a higher standard than the house was built to. Rainey has heard arguments by experts that buildings can be remediated cheaply. But he says nothing less than the “gold standard Prendos approach” ever works. That is stripping off the cladding, treating the timber framing, installing battens and building wrap to provide a drained and ventilated cavity and then installing new cladding. “We have found over time that all these consultants saying, ‘You can fix this up for less money’, were wrong. Ball now sees “third generation” leaky buildings where the first and second remediation hasn’t worked. Leaky home stigma Leaky homes do sell, albeit for a discount. Often buyers are builders or developers who remediate the properties and

More pressure on housing New Zealand’s unadjusted annual net gain of migrants was a record 70,300 in the October 2016 year, Statistics New Zealand says. This surpasses the previous annual record of 70,000 in the September 2016 year. “The record annual net gain in migration was driven by the increase in migrant arrivals,” population statistics manager Jo-Anne Skinner says. “At the same time migrant departures decreased, adding to the high net gain.” Migrant arrivals numbered 126,100 in the October 2016 year, setting a new annual record. Migrant departures were 55,800 in the October 2016 year.

flick them on or bowl the house and replace it with a new or multiple dwellings on one site. Buyers need to be careful and see reports from qualified surveyors. But buyers going to auction haven’t, until the market cooled, had the time to get the necessary report on a potentially leaky home and have taken risks. What’s more, says Gaites, it’s unusual for vendors to allow the necessary invasive testing to properly determine if the home has a weather tightness problem. If they do, it will have tell-tale holes left in it which could deter buyers. Unfortunately for owners, even a reclad and a CCC won’t return the value of their home to that of an otherwise equal home on the same piece of land.

pay $100,000 towards the remediation, the cashed up buyer might pay around $150,000 below the expected market value of the property. Rainey Law has had the first case, but it expects to see more, where the apartment owner declared bankruptcy and the Official Assignee “disclaims the property as onerous property”. In effect, it is abandoned and the body corporate takes it over to recoup some remediation costs.

We have found over time that all these consultants saying, ‘You can fix this up for less money’, were wrong.

Class action Thorn is leading the class action against cladding manufacturer James Hardie on a “no win, no fee” basis supported by international litigation funders. The case involves homes, commercial buildings, schools, hospitals and others that were constructed with claddings such as James Hardie’s Harditex, Monotek, and Titan Board. She says ASX-listed James Hardie tried to argue that there was a 10-year limitation under the Building Act. But Thorn says that only covers the building work, not the products. The $200 million class action involves more than 360 buildings and 1000 property owners.

Whether or not remediated, homes built between 1991 and 2004/5 come with a costly stigma, found Massey University’s Song Shi, Iona McCarthy and Uyen Mai. They are on the verge of releasing research into the price effect and say the drop in value is 11 per cent on average for general market stigma plus 5-10 per cent for post-remediation stigma. In the apartment market, cashed-up buyers have a formula for buying into leaky buildings, says Peter Holmes, general manager at Crockers Property. Where the remediation costs are known, but the work has not been yet done, they will typically deduct the estimated cost of the work, a contingency and then about one third more to cover their profit. In the case of an apartment where the owner needed to

The human cost Thorn says at least two of her clients have taken their own lives. Others have gone bankrupt and many more are living in homes that are severely impacting their health. In 2009 academics working in the field of public health at the University of Otago in Wellington estimated that the physical and mental health costs associated with leaky buildings was $26 million a year. Rainey remembers attending meetings in apartment buildings with mostly older apartment owners who appeared to go downhill physically and mentally over the years that the case ran on. “It is heartbreaking.” Ball knows of tradespeople involved in building the leaky buildings who have committed suicide or lost life savings. One tradesman who was the “last man standing” for a Whangaparaoa home owner had to pay around $60,000 on a job that he would have earned around $3000 for his portion of the work. It crushed him financially.

Lawyer, Tim Rainey

Buyers lack confidence There has never been a greater proportion of people who think it is a bad time to buy a house than now, according to the November ASB Housing Confidence survey. According to the survey’s findings, the drop in sentiment is apparent outside Auckland, although sentiment in the Super City remains low. It says expectations of house price increases, as well as higher debt servicing costs, appear to have subdued survey respondents’ sentiment around buying a house. The latest loan-to-value ratio restrictions could also be playing a part, says the report with investors across the country requiring a 40 per cent deposit to buy an investment property. The upside could be that the slowdown may give some first-time buyers a fighting chance to enter the property

market. However, the bank says buyers may remain cautious given recent house price appreciation and are likely to be wary of perceived changes in borrowing costs. Breakdown of the net quarterly figure for New Zealand: ■ 10 per cent say it is a good time to buy, while 35 per cent say it is a bad time. (It was 13 and 33 per cent respectively last quarter). ■ 42 per cent say it is neither good nor bad (was 41 per cent) and 13 per cent don’t know (13 per cent). In Auckland, sentiment was steady with a net -33 per cent thinking it was a good time to buy (more people think it’s a bad time to buy.) Outside Auckland, a net -24 per cent thought it was a good time to buy (from -16 per cent last quarter) in the North Island.


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December 12, 2016 | PROPERTY REPORT

Agent shaken but not stirred Earthquake zone residents hope aftershocks and property market will settle down after initial jolts, reports Lawrence Watt

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uestions remain over the future of Wellington and upper South Island real estate, after the November 17 earthquake and ongoing aftershocks. David Platt, an owner of Tommy’s Real Estate, works and lives in central Wellington. The quake woke him as his apartment building shook

violently. “I was expecting that Cuba St would be red-stickered,” he said. But that didn’t happen, and he believes the damage has been more prevalent on reclaimed land, than in other parts of town. “There was a little bit more chattel damage in apartment buildings, than in houses,” he says. Sales volumes for November at Tommy’s are likely to be 25 per cent down, following the quake. Platt is not too concerned as sales normally slow over Christmas and he is expecting, other things being equal, for volume to pick up after the holidays. The hope is that there will not be another jolt, closer to Wellington. “An 8.1 jolt might be a different story,” he says. Platt says most Wellington buyers are moving from one suburb to another, with only around 5 per cent being from

The office block at 61 Molesworth St, a central Wellington building damaged in the November 17 earthquake, being pulled down.

Auckland and 5 per cent from overseas. “Ninety per cent of buyers are moving from one suburb to another,” he says. Just 18 kilometres from the earthquake’s epicentre, David Lee, general manager of Bayleys Marlborough, in Blenheim, says “there is no slowing down of the property market,” which is fed by “an eclectic mix”, including out-of-town buyers. There will be insurance issues regarding buildings for sale, though. The Marlborough Express reported a section of town has been shut down and a two-storey building redstickered. Some lessons can be learned from what happened to the market after the Christchurch earthquake back in 2010 and 2011. Paradoxically, the Christchurch earthquake did not bring about a huge property crash. Many people remained living in Christchurch, where their jobs and families were. And because the earthquake destroyed 7000 homes, there ended up being more supply than demand, according to Quotable Value NZ.

PHOTO/MARK MITCHELL

In the short term Christchurch property values increased between 2012 and 2014. Since then, new houses have been built and prices have levelled. “Values have risen only moderately in that time,” says QV home value general manager David Nagel. “Prices are lagging behind value growth seen in Auckland and Hamilton, but have increased more by percentage, since the previous peak of 2007, than Wellington and Dunedin,” he said. Other earthquake-related factors also affect property values. Fixing a building to meet today’s minimum earthquake standards “can be a very expensive process,” particularly for properties built before the 1980s. Nagel said: “QV’s valuers have reported that some buildings with low ratings are either being demolished, or sold ‘as is’ as it is not cost effective for owners to carry out the work to bring them up to par.” Even in Auckland, the University of Auckland’s Maidment Theatre will be demolished, after costs to bring it up to standard were estimated at $16 million. Any value changes, as a result of the quakes, will not show through for some months, says Nagel.

Big advantages in tiny homes DIANA CLEMENT More Kiwis are downsizing their lives into smaller spaces than they imagined. And despite the headlines, some are delighted to do so. It’s not about being squeezed into a shoebox because that’s all they can afford. An apartment, duplex or terraced home can be homely and it’s cheaper to run and has less maintenance. The New Zealand Green Building Council (NZGBC) says data published by BRANZ shows that an average New Zealand house size has increased by more than 65 per cent over two decades while the occupancy rate had dropped from 3.1 to 2.7 persons per house over the same period. Ironically it costs around as much to build an 80 square metre home in New Zealand as a 130 square metre one, says architect Karl Baker of Construkt. But building smaller homes means that Kiwis can still have the all important back yard on a smaller piece of land. Although smaller homes aren’t proportionately cheaper to build, the land costs less, points out Baker. Construkt designed the Axis small homes that were built by Universal Homes at Hobsonville Point. Two distinct groups of buyers were interested in those homes, says Baker. One was young couples, who, although they’d grown up on the standard quarter acre sections, had lived in apartments at university and hadn’t accumulated lots of belongings. The other was 50-60-something empty nesters who no longer wanted the responsibility of a rambling home. Living in a smaller home isn’t necessarily commensurate with the exact reduction in size. A small home, says Baker, uses clever design to make up for the lack of space. Where possible, architects will avoid having corridors in smaller homes and they can also “borrow space” from one

Smaller homes can increase supply, but banks are wary.

PHOTO / GETTY

room to another. For example, says Baker, the dining room is usually dropped from a smaller home with the dining table being incorporated into the kitchen. Storage is the most problematic issue with designing a smaller home, says Baker. Roof pitches can be heightened to allow for loft storage in individual small homes, but not always for apartments. Other options include a storage shed outside to accommodate a bicycle and outdoor equipment. Clever tricks include putting the laundry under the stairs or building drawers into the stairs can help, although this can be expensive. The bedrooms in the Axis homes, as with many small homes, tend to be 1.5m by 1.5m smaller than standard suburban properties. Albeit small, the bedrooms will fit a queen size bed and bedside tables and there will be room to walk around the bed, says Baker. They won’t usually fit other furniture such as a chest of drawers. Smaller homes have many advantages. They may be lock up and leave. In remote beach areas, for example, some

owners have chosen to build small baches with lockable shutters adding to security. They know that these homes aren’t going to be broken into. Or they use them as a Kiwi base while travelling the country or overseas. Another advantage of thinking small is that tiny homes have less of an impact on the environment. They use less in terms of building materials. Andrew Eagles, chief executive of the New Zealand Green Building Council, adds that as well as using fewer resources when they’re being built, smaller homes have a positive benefit on how a town or city deals with flooding — which is a growing issue in New Zealand. “A smaller house has a smaller roof, meaning less rain is hitting the roof and running off to be dealt with by the stormwater system. Smaller homes and developments are more likely to have a higher proportion of garden or lawn space, which is a permeable surface (meaning) water is absorbed into the earth instead of running off concrete surfaces and swamping the stormwater system.” Not all small home buyers go for individually architecturally designed homes. Group home builders such as Keith Hay Homes and other household names often have stylish small options, which may even be relocatable. Even shipping containers are being turned into functional and smart small homes. Sometimes design allows two homes to be bolted together to expand the home as needs must or finance becomes available. That can be the case with container and modular homes. More information is available on PrefabNZ.com. Unfortunately one of the issues of smaller homes is that government, council and the banks can have hurdles to get over. They have all been through the leaky home crisis so are nervous about something that doesn’t fit the norm. Yet they would provide more homes on less land.


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December 12, 2016 | PROPERTY REPORT

Park position a winner SANDRA GOODWIN

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s summer beckons, the developer behind edgy upmarket new apartment development The Vulcan at 1 Halsey St, Victoria Quarter is watching the benefits of its park-side location unfurl. The Leuschke Group-designed boutique freehold apartment complex will be built across the road from Victoria Park, offering 38 apartments in dual park-side and city-side towers. One of the directors of Plutus Holdings, the parent company behind this project, Neil Salter, says his assertion that this will be Auckland’s version of living park-side in New York is playing out before his eyes. Salter says: “There are numerous apartments on offer around Auckland but we’re getting consistent feedback about what’s driving buyers to come here. “Number one is location, across the road from the greenery of the park and close to so much dining, entertainment, public transport and so many shops.” “There’s so much more activity in the park with the warmer weather — people doing boot camps, having picnics, walking dogs or just sitting quietly in the afternoons with a coffee and a book. People living in these apartments are going to feel connected to this environment and the great locations so close to them.” The apartments’ long, narrow site running between Halsey St and Dock St is near Wynyard Quarter, about five minutes’ walk from the Viaduct and the CBD and not much more to Britomart or Ponsonby. Dwellings across the two towers will have varying views of

Buyers signing up for The Vulcan apartments say they want to be close to the park as well as having dining, entertainment and public transport within easy reach. ILLUSTRATION / SUPPLIED

the park and city, with some harbour and harbour bridge views from upper levels. The Vulcan’s lobby will be on Dock St, the quiet no-exit street running between the site and one side of the newish Spark building which has its main entrance on Victoria St West. The apartments will be just around the corner from Les Mills, with Victoria Park New World nearby. Salter is pleased with sales progress — 12 unconditional dwelling sales plus six under contract, within a short time of marketing, and spread evenly across the Parkview Tower and Cityview Tower. Purchasers include city professionals, downsizers and folk who want a city base. He says the second key factor driving interest in The

Vulcan is the building and interior’s edgy, distinctive style. Salter admires the boldness and strength of Leuschke’s design for the concrete building which plays with reflectivity using bronze exterior framing and graduated intensity metallic frit glass on balconies. Interiors incorporate some exposed concrete walls, concrete-look tiles, marble benches, wooden floors, ECC lighting and Miele appliances. Configurations include one-bedroom plus flexi-room apartments and two-bedroom apartments, some of the latter including a car park. Prices range from $625,000 to $1.84 million. It is scheduled for completion at the end of 2018. ON THE WEB: thevulcan.co.nz

Volatility reflects uncertainty in market

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s anticipated, the latest round of lending restrictions announced by the Reserve Bank in late July have taken some heat out of the property market. Let’s consider listings first. For a week or two after the announcement there was a surge in new listings. While slightly earlier than usual, I am putting that down to a normal spring seasonal lift. But it was brief, and the next couple of months were much weaker than they should have been for that time of the year, right across the country. Then, rather unexpectedly, new listings picked up again in early October, and in the last few weeks have been at the highest level we have seen for a few years. It would seem that people needed a couple of months to work out what the lending restrictions meant for them and, rather than listing in August or September, are doing so only now. Despite this late surge in new listings, the number of properties for sale remains low across the country. Another weekly series that we track is our index of buyer demand, based on the number of electronic valuations ordered by banks of behalf of their customers. Like listings, this briefly jumped after the RBNZ announcement. This was likely because people were worried they may not be able to get a home loan. What has followed has been a low level of buyer demand across most of the country. In the top half of the North Island the buyer demand has been at or below what it was in mid-winter immediately before the announcement.

MARKET WATCH JONNO INGERSON, DIRECTOR OF RESEARCH, CORELOGIC

Usually the demand would have been steadily increasing throughout spring. Across the rest of the country the demand is higher than mid-winter but still below what you would expect for this time of year. The new lending restrictions targeted investors by requiring a 40 per cent deposit. According to our latest buyer classification analysis the share of sales going to investors has held firm so far. There continues to be a decline in the share of sales to people moving house, while first home buyers are also holding firm. We are now seeing some effect of the reduced demand on values. When I compare the rate of value increase over the past three months to the three months before that, many parts of the country have slowed. This slowdown is most pronounced in the top half of the North Island, but has been less so in Wellington where some suburbs further out of the city have continued to ramp up in value. Speaking of Wellington, the Kaikoura earthquake events have caused considerable damage to dozens of building in the CBD. As further engineering inspections are carried out,

more buildings are being deemed unsafe and will not be inhabitable until repaired which will be many months in most cases. Some buildings are so badly damaged that they will need to be demolished. What that means for the people working in those buildings will vary from case to case, but for the time being uncertainty is the word of the day. While there is little to no damage to residential properties in the Wellington area, there has been a freeze put on new insurance policies from Selwyn District and Westland District in the South Island right through to Kapiti Coast and Masterton Districts in the North Island. People buying a house in these areas can take on only the existing owners’ insurance policy and cannot raise the level of cover. Again, this will cause uncertainty for potential buyers and sellers and will likely slow down activity. Uncertainty is likely to see a volatile property market for the next few months at least.

CoreLogic is a leading property information, analytics and services provider created by the merging of PropertyIQ and Terralink International. CoreLogic helps clients identify and manage growth opportunities, improve performance and mitigate risk through innovative, technology-based services such as QV.co.nz.

Data supplied by QV.co.nz / Herald graphic


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December 12, 2016 | PROPERTY REPORT

The GREAT escape New Plymouth is proving popular with families looking for a more relaxed lifestyle than they could afford in Auckland.

Promises of relaxed lifestyles, less traffic and affordable houses are luring people out of Auckland, writes Sandra Goodwin

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t’s been the talk of the town for a while now — how some Aucklanders, often spurred on by the Super City’s super property prices, are selling up and moving to the regions. So where are they going? And how much cheaper are the properties they’re typically buying? CoreLogic senior research analyst Nick Goodall says: “More and more Aucklanders these days are selling out of the Super City and shifting to the regions. “In 2015 we saw more than 3600 households trade the big city life for the more relaxed lifestyle elsewhere. This was a 60 per cent increase on the year before. “So far in 2016 we’re tracking at a similar rate with 2700 Aucklanders flying the coop in the first three-quarters of the year. “Aucklanders have always favoured relocating to the regions and major cities near the Super City. It’s clear they prefer not to stray too far from what they’re used to.” Consistently number one is Tauranga, often favoured by retirees, with Whangarei, Thames Coromandel, Hamilton, the Far North and the Waikato district all featuring heavily in the top destinations for Auckland escapees. Goodall says: “They’re likely to appreciate still having relatively close proximity to Auckland where many of their family and friends may remain. “Settling somewhere with similar weather to our largest city is also likely to play a part.” He believes the fact many of the locations have historically been popular holiday destinations means Aucklanders’ familiarity with them boosts their confidence to move. Reducing the amount of money tied up in property by several hundred thousand dollars is the typical result for exAuckland property owners relocating and buying elsewhere according to CoreLogic year-to-date 2016 averages. Auckland sellers who bought in Tauranga paid on average $235,000 less than they sold their Auckland property for, in Whangarei on average $351,000 less, in ThamesCoromandel $340,000 less, in Hamilton $250,000 less and in the Far North $306,000 less. Buying in the Waikato district brought a $200,000 average property price reduction, in Christchurch $341,000 less, in Rotorua $394,000 less, in Western Bay of Plenty $278,000 less and in the Kaipara district $364,000 less. However, regional property supply is limited, with CoreLogic reporting the number of listings available in the regions being consistently down on a year ago.

PHOTOS /GETTY, POSED BY MODELS

Top 10 places Aucklanders move to The top 10 destinations* for Aucklanders who have a sold a property and bought another one outside the city this year, are: 1. Tauranga: average property value is now $652,000. QV figures still show strong 27 per cent growth in Tauranga’s annual value change but it is possible it’s slowing down after hitting 28.5 per cent in August 2016. 2. Whangarei: average property value $452,000. Whangarei’s annual value growth is sitting at 23.9 per cent, its strongest value growth since 2006 (in the lead up to previous property market peak). 3. Thames Coromandel: average property value $624,000. Annual value growth currently 15.5 per cent which may have begun to flatten. 4. Hamilton: average property value $537,000. Continues to have strong property value growth at 25 per cent but that’s down on July 2016’s 31.5 per cent. 5. Far North including Kerikeri, Kaitaia and Paihia: average property value $360,000, still below previous 2007 peak of $398,000. Annual value growth running at 11.6 per cent after hitting 16 per cent in September 2016. 6. Waikato district including Pokeno, Huntly, Tuakau, Te Kauwhata and Raglan: average property value $421,000. Annual value growth 30.2 per cent; its strongest growth since 2006 (in the lead up to previous property market peak). 7. Christchurch: average property value $498,000. Has 4.7 per cent recent annual value growth, having already experienced much value growth earlier in the rebuild.

QV valuers have hands-on experience with former Auckland property owners who have relocated. Thomas Ujdur, valuer and team leader northern for QV homevalue Whangarei sees people commuting to Auckland from as far north as Mangawhai, particularly if they can spend part of their time working from home. He’s seen Auckland grandparents moving north to follow their children and grandchildren. Locations within commuting distance of Hamilton such as Te Awamutu, Morrinsville, Ngaruawahia, Raglan and Cambridge have been increasingly popular says QV homevalue Hamilton valuer Stephen Hare. He’s watched Thames values being driven up by people

8. Rotorua: average property value $363,000. Recent annual value growth still strong at 25.9 per cent but under the 27.1 per cent it was running at in August of this year. 9. Western Bay of Plenty including Katikati, Omokoroa, Waihi Beach and Te Puke: average property value $597,000. Annual value growth sitting at 33 per cent — the strongest growth across the whole country and stronger value growth than the locale experienced at any time in the lead up to previous property market peak. 10. Kaipara district including Mangawhai Heads, Mangawhai and Dargaville: average property value $436,000. Annual growth 20.2 per cent, slowing slightly from prior months’ peak of 20.9 per cent. *Destinations ranked using CoreLogic buyer classification data with additional information from the QV House Price Index.

buying there to commute to Auckland. Some areas attracting first home buyers who have been priced out of Tauranga are Te Puke, Paengaroa, Te Puna and Pyes Pa reports David Hume, valuer for QV homevalue Tauranga. Rotorua’s become an alternative for those priced out of Tauranga, says QV Rotorua valuer Michael Power. Its appeal is helped by being an easy drive to larger centres such as Tauranga, Hamilton and Auckland. Rotorua Lakes council marketing arm, Destination Rotorua, has launched a campaign encouraging Aucklanders Continued on page 8


December 12, 2016 | PROPERTY REPORT

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December 12, 2016 | PROPERTY REPORT

Moving away from the rush Continued from page 6

to move to Rotorua. The campaign targets Aucklanders including families, working professionals and those of midhigh socio-economic status to embrace Rotorua. Moving out A couple of months ago Brett and Jacqui Piskulic sold up their Mangere Bridge home of 10 years, moving their family to a lifestyle property 10 minutes out of Kamo above Whangarei. Brett says: “Jacqui floated the idea of moving out of Auckland a while ago and we got serious about it earlier this year. “She’d made noises about us moving to Invercargill, where she’s originally from, but that seemed too cold and far away to me.” Around Whangarei seemed a good option as the couple and their daughter and two sons had enjoyed holidaying up north. They made sure there were good clubs available for their children’s sports before deciding to relocate. The couple say they’ve got no interest in ‘knocking Auckland’ as the move was about pursuing a lifestyle they wanted which would allow them to spend more time as a family. A real estate agent they trusted in the new location knew what they were looking for after selling their non-waterfront Mangere Bridge home. They bought a similarly sized, somewhat newer home on about a hectare of land for a little less money. Brett’s been able to continue his career behind the scenes in the electricity supply industry working remotely, interspersed with some out-of-town trips. He’d leave home early in Auckland to avoid commuter bottlenecks but he and Jacqui often got stuck in congestion taking children to sport. Brett says: “I’m traffic intolerant and felt like I was wasting life away stuck in the traffic.” They weren’t much hooked into Auckland’s cafe society and have found great beaches and bushwalks around Whangarei. They’re grateful two staff from Waterlea School came up to help transition their 10-year-old son with special needs, Nikolai, into his new school. They also took a few day trips to their friendly new location pre-move. Jacqui’s social but says technology including messaging and video calling helps maintain contact with Auckland friends and family. She says: “I love the fact we live looking out at greenery and have space around us.” New Plymouth House-sitting for a New Plymouth cousin for a week last Christmas convinced ex-Torbay residents Rachel and Dan Court to move their family there in August. Rachel says: “Within a couple of days we said, ‘This is crazy; everything seems so easy down here’. “Dan’s a surfer and could get up and drive five minutes to go surfing every morning.” The Courts’ blended family with six children was finding day-to-day Auckland life fast-paced, living in a threebedroom one-bathroom 1950s Torbay house on a crossleased site. Rachel says: “Dan’s a self-employed tradesman who often got stuck in traffic going to do quotes and I didn’t really feel like I had time to do much outside of work once everything else got done.” They sold their Torbay property for $990,000 at the end of June, shortly after paying $480,000 for a 2.4 hectare lifestyle property in Tataraimaka outside the little township of Oakura.

Tauranga (above), Whangarei (below, right) and Hamilton have all had their populations boosted by the “Auckland escapees”.

Rachel says things fell into place when she heard wordof-mouth about the job she got as a New Plymouth public health nurse earning exactly the same wages as she did doing that role in Auckland. Dan’s spending a spell as house husband while they settle in; confident he can use his trade skills or skipper’s ticket when they’re ready. They’ve already extended their 1920s bungalow from three to four bedrooms, content with its sole bathroom for now as two older children have stayed in Auckland with family. Rachel says: “We’re so happy. We’ve got a view of the ocean and a view of Mount Taranaki, paddocks and open land and stock. “It feels like we’re rediscovering the old Kiwi values. We’re putting in a mini orchard and the two younger boys love riding their push-bikes around the paddocks.” Regional jobs Do your research about jobs before heading to the regions, advises managing director of Adecco NZ, Mike Davies. His company’s 16 offices throughout the country are constantly looking for good staff but Mike acknowledges well-paid professionals won’t automatically find the same sort of roles outside Auckland. He says: “You obviously can’t just rock down to Tauranga and expect to be a nuclear physicist.” He says prior research is just as important for Aucklanders contemplating setting up their own businesses to support themselves post moving to the regions. While demand for tradespeople has been strong across many regional towns, opportunities in industries such as fisheries, tourism, meat processing, agriculture and forestry vary hugely by location. Mike’s confident Auckland’s property prices and pace of life will see more businesses relocate to the regions, especially for location flexible services such as call centres. Spark spokesperson Michelle Baguely says they don’t monitor the numbers of customers who’ve relocated from Auckland and work remotely from home in the regions. However, she recommends they investigate technology services and available internet speeds before any move by contacting retail providers, checking out their websites or even talking to owners of potential properties if possible. “We’ve had customers who have moved away from

PHOTOS / GETTY IMAGES

Auckland to small holiday towns hoping to run their companies which routinely transfer large video files and enormous data files.” She says while services are constantly improving some towns rely on infrastructure built years ago and fibre will cover only 75 per cent of the population once roll-out is complete in 2019. Chorus took over responsibility for maintaining the network in 2011 so that isn’t the role of retail providers such as Spark. In a jam The increasing frustration of Auckland traffic often rates a mention from those farewelling the city. The AA’s principal adviser infrastructure, Barney Irvine, says its member surveys highlight that few issues seem to do more to push Aucklanders’ buttons than road congestion. Barney says: “They say traffic congestion is a top concern of Auckland city living, describing it like an ever-tightening noose around their neck.” Studies have been done suggesting Auckland’s road congestion is in the league of that experienced in cities such as Sydney, Melbourne and Perth. New Zealand Transport Agency figures show how much Auckland motorway commutes into the CBD have typically increased. A Southern Motorway 33km journey from Papakura which averaged 46 minutes in 2013 averages 67 minutes in 2016. A Northern Motorway 17.5km journey from Oteha Valley Rd which averaged 42 minutes in 2013 averages 50 minutes in 2016 while a Northwestern Motorway 16.4km journey from Royal Rd which averaged 25 minutes in 2013 averages 37.5 minutes in 2016. The flow-on effects of home-owners leaving Auckland means some fast-growing regional locations have noticed increasing traffic. An Omokoroa resident (21km north of Tauranga) has noticed her weekday morning commute into Tauranga CBD lengthen markedly over the past 18 months. Meanwhile some Papamoa residents report that extra traffic has stretched their morning commute into Mount Maunganui from typically around 15-minutes six to eight months ago to about 25 minutes nowadays.


9

December 12, 2016 | PROPERTY REPORT

Hit the road with your home Moving a house can be a cheaper option to building new. Lawrence Watt looks at the risks of moving a home lock, stock and barrel

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elocating a house is a cheaper way to buy a dwelling, suiting ‘DIYers’ or folk who are good at organising subbies and workers. Paradoxically, generally it is people buying their second house, who are literally moving houses, says Craig Walker, a house removal specialist. They tend to have a higher percentage of equity than first timers. Walker owns and manages a house removal company business in Kumeu and has been moving houses since 1961, when he was still in his teens. During that time, the most challenging house removal was onto a section with a 45 degree slope, while the biggest house he moved had to be cut into 11 pieces, each one on a truck. The huge Remuera mansion, as with all two-storey houses, needed a crane to help reconstruct it on its new site in the country. Walker says effectively the size of the house does not matter, so long as it can be cut into reasonably sized chunks. The furthest he has moved a house is from Auckland to Linton Army Camp near Palmerston North, no sweat given it was a solid army building. Many costs, such as driveways and services, are similar to building a new house in the boondocks. They will vary substantially depending on how far the house has to be moved to, whether it has to be cut up, how far it is from the road and whether or not a crane will be needed. As with building a new house, you need to consider having a driveway laid, pay for power and telco connections, water, drains and council consents. That’s not to mention, landscaping, driveway and path, and fencing. Walker gives people a list. Occasionally he advises people against it, based on his reading of them. “It’s not for everybody,” he says. Walker estimates the total cost of moving a house and making it habitable is generally around half the cost of building a new house (plus the cost of land). He even gives people a form to use to work out all of the costs. Generally houses are moved late at night, so as not to cause traffic jams, and rather than the expensive option of taking down power or phone lines, the roof is cut off, then replaced. Usually the houses are moved from a suburban street to a country location — a lifestyle block. As a rule of thumb, only weatherboard houses can be moved successfully. Walker says he once saw someone try to move a brick house, but the bricks had to be removed and then re-clad over the house’s wooden frame. Chimneys also have to be rebuilt. “So long as the house is made of timber, it’s okay,” he says. If the house has a large concrete block base, this will need to be built afresh.

Craig Walker, who owns a building removal business in Kumeu, says so long as a house can be cut into reasonably sized chunks it can be moved and rebuilt. FILE / BRETT PHIBBS

WATCH OUT FOR PROBLEMS FROM THE LEFT FIELD Cushla Clark and her partner Rick Horst moved a Mt Eden old villa onto their Matakana property a few years back. Cushla says they love their kauri home but many costs were higher than expected. She says the lines company gave a verbal quote for undergrounding power of around $10,000, but the eventual cost was $50,000. They used a builder to ‘re-gib’ but he substantially underestimated. “He hadn’t looked at the house,” she says. Other costs, needed in rural areas, such as swales (a place to hold water, to prevent runoff) were also a surprise for the former city-slickers. However, the removal went smoothly, partly because they had ensured their section was flat. “The removal company did a great job,” she says

You might expect kitset or factory-built homes to be easier to move but Walker says that most wooden house are strongly made. Although pre-built homes are inevitably narrow enough to fit on a truck, Walker says most houses can be cut into pieces, then re-assembled on the site. Prices for an old ‘character’ three-bedroom house in South Auckland start at around $10,000 on Trade Me, up to $100,000 for a large bungalow or more for a two-storey mansion on Walker’s lot. Over time, the house may have settled on the ground.

When it is made square again, some cracked plaster should be expected. A keen DIY-er can replace the plasterboard or Gib, although plastering requires a knack. Unless you re-line your relocated house, filling in with insulation and replacing the windows with double-glazing, it is unlikely to be as warm as a new home. Walker says the council does not require double glazing to be retrofitted, and that in any case, “good drapes are almost as effective as double glazing”. Roof and floor insulation are basic. Walker says he is getting many inquiries resulting from the new unitary plan — but it is still early days. Potentially some 65,000 former heritage houses can now be moved, as a result of the unitary plan, he says. He expects developers will move houses a short distance to create room for a second house, on sections where the plan permits two or more houses on a site. Once in a while something can go wrong with the removal — although it is unlikely, given the wide experience of reputable firms. A decade back a house removal firm was sued after a house fell into a gully and was damaged beyond repair. Over the years, this writer has seen many moved houses. You generally can’t tell the difference. One included a twostorey mansion which had been used by the Blind Institute in Parnell. It was cut into many pieces and moved to Whitford. Its owners were doing it up while living downstairs. It cost a fraction of buying new, and I recall a happy party there — a break from years of sweat and slog.

Tamaki push to provide more housing

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he latest qv.co.nz E-valuer quarterly Property Report figures show Auckland home values are still rising, just not as quickly when compared to this time last year. The super city now has a total of 99 million dollar plus suburbs and just three suburbs under $500,000 (not all are listed in the report). With much of the new Auckland Plan now operative, it’s over to developers to take on the task of increasing the housing supply on land zoned for greater intensification. It is hoped this will provide more “affordable” housing options. The Tamaki Regeneration Programme, with the backing of central and local government, is already exemplifying how intensification can achieve this — and how it can be done in a way that can have positive outcomes for communities. Over the next 15 years, this programme will see around 2500 of the existing 2800 social houses in the Tamaki suburbs of Glen Innes, Point England and Panmure being redeveloped to deliver approximately 7500 new dwellings. The programme’s portfolio has 170 hectares of prime urban land that is 15 minutes by car from Auckland’s CBD with its own coast, parks and amenities. It already has established transport links including two train stations so typifies the sort of land zoned for intensification under the Auckland Plan.

DATA REPORT ANDREA RUSH QV NATIONAL SPOKESPERSON

The majority of the 2500 former state homes that will be redeveloped are dated single dwellings on single sections. These sections can be redeveloped to site up to four new dwellings under the scheme. The new homes will be a mix of one, two, three, four and even five-bedroom properties — replacing all the social houses, and providing new affordable housing and private market housing within each neighbourhood. The new homes will incorporate a range of housing types including stand-alone houses, townhouses and terrace style dwellings as well as apartments. The Tamaki Regeneration Company says the project is about regenerating the communities by replacing old damp state houses with new, warm, dry and architecturally designed homes that take best advantage of the natural and built surroundings, beautifying green spaces, connecting

streets with new walkways and upgrading existing community facilities as well as creating new ones. As well as facilitating job training, employment and business pathways, the programme aims to achieve physical, economic and social benefits to the area. Early stages of development have been focused in Glen Innes, but planning is under way for projects to commence in Point England and Panmure. As old state houses are demolished, tenants who wish to stay in the neighbourhood are being moved into new social housing as first priority. It’s likely the Tamaki Regeneration Programme is contributing to value growth there as the suburbs are seeing the highest rate of percentage growth of any suburbs in the Auckland region since the previous peak of 2007. The qv.co.nz median E-Valuer for Glen Innes has risen 129.3 per cent from $418,500 in 2007 to $962,950; while Point England has jumped 126.6 per cent from $397,500 in 2007 to $900,550. Wai O Taiki Bay (coastal GI) has also risen 124.6 per cent from $528,600 to $1,189,850 since 2007. Homes being built as “affordable” under the scheme are selling from $479,000 for a one-bedroom to $650,000 for the affordable two-bedroom starter homes, designed to easily add an extra bedroom or garage later, and marketed to meet the price cap for the Welcome Home Loan.


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December 12, 2016 | PROPERTY REPORT

Could be time to fix your loan rate Experts advise homeowners to do their homework before locking into fixed rate loans, writes Greg Fleming

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ast month the Reserve Bank sliced 25 basis points off the official cash rate bringing it to another record low of 1.75 per cent. But if your fixed home loan was coming to term or you were after a new one, your bank didn’t pass on the savings. “The current low volume of domestic deposits has forced banks to increase their use of offshore funding, which also increases costs for banks,” reads the ASB’s press release. It shares that position with all the other major banks. Indeed many commentators believe the days of record low mortgage rates are coming to an end. And then there’s the Trump effect. “In terms of bond rates,” says Gareth Kiernan, chief forecaster of Infometrics, “the lift suggests that Trump’s proposals to spend on infrastructure will boost economic growth in the US and perhaps inflation. This has pushed up bond rates here as well. “The recent rise, if sustained, will add to the upward pressure on fixed rates (especially at the longer end of the yield curve), strengthening the case further for people to fix — so locking in for two years is probably a good option at the moment. “Even if interest rates track sideways over the next one to two years, you’re going to be comfortable having locked in a low rate.” Kiernan advises homeowners to do their research before talking to their bank as, despite the LVR (loan to value) and other restrictions put in place recently, it remains a very competitive market. “Increasingly, over recent years there has been more customer churn as banks have offered significant incentives to new customers that haven’t necessarily been available to existing customers. Smart customers will be aware of what else is out there, won’t be afraid of spending some time talking to other banks, and then going back to their existing bank and asking them to match it.”

Gareth Kiernan, Infometrics chief forecaster, advises home buyers and owners to shop around for the best mortgage deals.

Especially if you have an account that your salary is paid into, or a credit card, term deposits or insurance with the bank. That gives home owners a far more powerful position from which to negotiate. Which is what Auckland homeowner Jeff (not his real name) did last year. “In 2015 my fixed mortgage was up for renewal,” he says. “Before going in to talk to my bank I visited a rival bank across the road which was offering a $500 fee to switch to them with an existing home loan. I went in, got a quote printed out and armed with that went across the road to my

Locking in for two years is probably a good option at the moment.

Gareth Kiernan

bank. They bettered the rate of the bank across the road and paid me $500 to stay with them. A win-win all round.” Well almost, because just a few weeks later, Jeff says that the rates dived. “I’d negotiated 5 per cent which was very competitive then but within a month the rates had plunged to less than 4.5 per cent,” he says. If you’re not comfortable or confident at the negotiating table, Kiernan advises that home owners work through a mortgage broker. “Perhaps I’m a bit biased because I’ve only ever worked through a broker, but I’ve always found them helpful. And the one occasion I tried to deal directly with the bank, the bank wasn’t helpful at all,” he says. “For first-home buyers, using a broker can provide you with information about the broader home-buying and

FILE / NORTHERN ADVOCATE

borrowing process. Brokers are also familiar with exactly how much discounting the banks are willing to do off their carded rates and any other possible deals — which the naive borrower might not know or be able to achieve. “With brokers having been squeezed out of the market over the last 10 years, they also need to offer a wider service than previously, so they can be helpful in terms of broader stuff such as insurance etc. “Finally, for borrowers who don’t fit within the standard bank lending parameters (eg self-employed), brokers will have a good awareness of the non-standard lending options, which can be harder to find or access if you’re not familiar with them.” Geoff Bawden, director of Bawden Consulting, recommends that home owners include a portion of their loan at the floating rate. “Fix the majority to provide stability and float a little to create flexibility and if you have any extra [cash] you can apply that to the floating loan,” he says. “The question you then ask is if you fix, how long do you fix for? Most are chasing rate and historically the cheaper rates are the shorter term rates for one or two years. You often hear comentators suggesting they are a good option. “It comes down to priorities, if budgeting is important then fixing a bit longer, say three years has to be in the mix because it just gives you some surety for that little bit longer. I personally think anything over three years needs a lot more consideration because fixed rates are contracts and five years is a long time to say nothing is going to change.” Is it worth changing banks to get a better rate? “It can be but it is important to remember that a good option is not always determined by interest rate alone. Structure, ancillary services, and even how easy it might be to do something at a later stage all need to be taken into account.”

Exceptionally tuned in to what’s happening in the Ponsonby/Herne Bay area, Karen’s your No.1 property professional. For an outstanding result, let Karen direct your sale.

Karen Spires AREINZ M 027 273 8220 E karen.spires@bayleys.co.nz Bayleys Real Estate Limited, Ponsonby, Licensed under the REA Act 2008.


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December 12, 2016 | PROPERTY REPORT

INDUSTRY ANALYSIS As told to Graham Hepburn

Market slows but remains strong Mike Bayley Managing director Bayleys Corporation

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he year of the underdog continues to surprise — Brexit, Irish rugby and Trump. Yet while many are still reeling in astonishment, the sun has risen, markets have shown resilience, and life goes on. Basking in the spotlight of the global stage for well over its 15 minutes this year, New Zealand continues to perform exceptionally by international standards, with economic growth, professional opportunities and the standard of living capturing the attention of restless residents abroad. Driven by immigration, lower levels of emigration, and the ongoing supply versus demand phenomenon, the Auckland region carries on achieving double-digit sales growth when compared with year-on-year figures. Proving some relief to economists, it is pleasing to see Auckland sharing its limelight with six regions (including Northland and the Bay of Plenty) recently reporting record new median sale prices. This year has seen an increasing number of cranes dot the skyline, building toward the densification we so desperately need. With development, a new buying trend has emerged, as retirees look to more compact apartment living for affordability and convenience, while first-home buyers trade in their quarter-acre dream in greater numbers for a smaller step onto the property ladder. Ironically, the factors underpinning market growth, including historically low interest rates, have made lenders more cautious. While not happy news for fledgling developers and those with little equity, these measures will ensure predicted momentum is sustainable well into 2017.

Chris Kennedy CEO Harcourts

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ationally our average sale price is now $593,187; an amount largely driven up by Auckland’s average price, which is $919,966. As the rest of the country tends to follow Auckland’s lead, it is interesting to note sales were down 4.7 per cent in Auckland during October when compared to September, but are consistent when compared with the same time in 2015. This points to a market that remains strong, but one that is not moving ahead with the force and speed of 12 months ago. Auckland average prices are still creeping up year on year. Houses at the higher end of the price spectrum continue to achieve very good prices, driving up the average. However, there has been a flattening at the mid to lower end. Across the rest of the country, selling prices continue to be strong though sales have dipped. For example, written sales are down by almost 18 per cent compared with 2015 in Christchurch, down by 20 per cent in the central region, almost 13 per cent in Wellington and have remained flat in the provincial South Island. Sellers are having to be more discerning about the ways in which they market and present their properties to captivate buyers. Choosing the right sales consultant and marketing a property well have become vital to achieving a good price. We’ve been spoilt by a strong market for a long time but with sales dropping a little it’s important not to be complacent.

Peter Thompson Managing director Barfoot & Thompson

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ow that the US presidential elections are behind us, some of the uncertainty that was in the market will start to disappear and focus will return to the local factors that affect the market. The New Zealand economy, and within that Auckland’s economic activity, is looking robust and stable. While our economy will always remain susceptible to external events, there is every reason to believe that the local housing market will settle into the normal strong run in to the Christmas/New Year break. The key factors that drive the housing market remain unchanged. Auckland’s population is continuing to rise, house build numbers are lower than needed to ease demand, interest rates remain low and the banks are lending to those with the means to meet repayments. Some of the pressure on buyers to make quick decisions has eased, and that is likely to continue. In the past few months the rise in residential house prices has gradually eased and sales numbers have declined. That prices have held up indicates that as the rising price cycle comes to an end we may achieve the best possible outcome — a soft landing. However, with an election next year, the current more balanced market may be short-lived. Invariably in the two to three months preceding an election trading softens. Sellers intent on avoiding the ‘pre-election season’ are likely to be active in the first six months of 2017. This, combined with greater certainty around international trends, could see a positive rise in market activity.

Graeme Fraser Head of agency operations NZ Ray White

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s we come toward the close of 2016, market conditions are complex, with inventory levels rising. Loan to value ratios on lending that are fully implemented, further potential immigration rises and the official cash rate are all influencing market direction. When grouping these indicators together, we can see consistency forming in the market with supply and demand rates falling back in line and bringing about, particularly in Auckland, a more stabilised price platform. The measure by the Reserve Bank in reducing the Official Cash Rate is primarily designed as further stimulus for sectors outside of property. The retail banks and other lenders have indicated that they won’t be passing through the wholesale reduction to borrowers. In general, sales of owner-occupied properties remain strong and we believe the market will maintain a good depth of buyers when linked with immigration numbers. There have been many comments about the flow and effect of sales out of the main centres, and the market outcomes will continue to deliver positive price increases through the regional areas. There has been more focus on the policy around investment purchasing. Consequently, there has been a slowing of investment sales. The rental market is showing a low vacancy rate with the average rental price in the majority of areas continuing to lift.

Barry Thom and Grant Lynch Unlimited Potential Real Estate

Keith Niederer General manager LJ Hooker & Harveys Group

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he traditional spring flush of listings and sales activity hasn’t eventuated in the Auckland market. The New Zealand economy is in good shape, the Reserve Bank’s criteria with the new LVRs hasn’t had any effect on higher priced property but has certainly had an impact on investors who are finding more choice but are in no hurry to add to their portfolio. We are also seeing the Australian-owned and controlled banks here in New Zealand tightening up on their lending policies, obviously concerned at the risks associated with the present lending books. With the tightening of lending policy this may mean a reduction in mortgage borrowing and that means fewer buyers in the marketplace. The market continues to experience record high sale prices in September and October. I believe prices have peaked and with the days to sell moving out due to more stock, the sooner you sell the better the price. The traditional flush of listings may be delayed until February/March next year as many families consider their options. The regions remain affordable with good schooling and an enviable lifestyle. Low interest rates and immigration will continue but there is only so much you can borrow. The cost of living in Auckland — whether you own your home or rent — will only continue to rise, which will obviously mean many people may have to adjust their spending and lifestyle.

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n this year’s run-up to Christmas there has been much to digest. The media has heralded increased interest rates along with a flattening market. In addition, as some surveys are saying, many think it’s a bad time to buy. Alongside that, we have had to digest a Trump win in the US, more earthquakes and a significant tightening in bank attitudes to lending. These factors, alongside a tightening in LVRs, have undoubtedly impacted buyer enthusiasm. Meantime, there has been a deluge of homes listed. The consequence of all this is buyers taking a cautious approach while vendors have their hearts set on sale prices based on recent history. These factors mean a limited number of buyers with a lot of options, resulting in slowing of sales and something of a stand-off with regard to price. Of interest, the market slowed in similar fashion this time last year but for different reasons, only to kick off again in the New Year. The big picture is that New Zealand continues to be attractive to the rest of the world for its various attributes, both natural and governmental. Immigration continues at a pace far outstripping the rate of new construction. Add the demise of many new apartment projects, and it’s not hard to see high demand continuing. With strong GDP and a robust banking system, the concept of waiting for a significant downside in property prices is not something we would be betting on.


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December 12, 2016 | PROPERTY REPORT

YOUR HOUSE VALUE A quarterly analysis of North Island property values WHAT IS “E-VALUER”?

WHAT THE TABLES TELL YOU

E-Valuer is an estimate of market value and forms part of a QV.co.nz E-Valuer report. It is an automated model which provides an instant estimate of a property’s current market value based on recent sales of comparable properties in the immediate area and other factors. In the tables, an E-Valuer Report was run for each house in the suburb, and then a weighted average was calculated. The result is an average current value of all houses in the area. This may represent a more robust guide than median or average sale prices which measure only what happens to be selling in the area and can therefore be skewed, depending on which parts of the market is more active – the top or bottom end. Where there is insufficient data to calculate enough E-Valuer Reports in an area, value is not shown. While CoreLogic has used reasonable endeavours to ensure the accuracy of the information, the accuracy of the data relied upon to assess the estimated value is not guaranteed.

The data for these tables is provided by CoreLogic and gives a comprehensive summary of actual house sale prices and volumes for the periods and areas listed. The North Island areas detailed generally have at least 500 houses, and sufficient sales, to give meaningful results. Sections are excluded, as are mortgagee sales and “non-market” sales (such as sales to related parties and transfers to trusts). But flats and apartments are included, and are now included in this issue.. Three-monthly median prices have been used to give greater depth and accuracy. They are a useful indicator of trends where the number of sales is high, but offer only a very rough guide in areas where sales are low. For

E-Valuer estimate of

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

Sales price in 3 months to

Median price in 3 months

Median price in 3 months

Median price in 3 months

Median price in 3 months

Median price in 3 months

Median price

median value at 31OCT2016

median value at 30SEP2016

change in 3 months to

median value at 30SEP2015

change in year to 30SEP2016

median value at 30SEP2014

change in 2 years to

median value at market peak

change since 31AUG2016 in relation to CV market peak (CV date in brackets)

to 31AUG2016 (no. of sales in brackets)

to 30JUN2016 (no. of sales in brackets)

to 30SEP2015 (no. of sales in brackets)

to 30SEP2014 (no. of sales in brackets)

to 30SEP2013 (no. of sales in brackets)

change in 3 years to

30SEP2016

(31OCT2007)

(31OCT2007)

30SEP2016

E-Valuer price

smaller areas, they should be treated with caution. The average sales price compared to CV (capital value set for councils every three years which may be used as a basis to apportion rates) gives a general guide to what properties may sell relative to a reader’s own CV (which you will find on your rates bill or council website). Negative values mean that on average properties are selling below their latest CV, while positive numbers mean they are selling above. Most CVs are set between July and September in the year given. The tables should be regarded as giving only broad indications of value. To determine market value of a particular property, visit QV.co.nz for the actual E-Valuer estimate and get advice from valuers and real estate agents.

30SEP2016

GREATER AUCKLAND RODNEY Arkles Bay Army Bay

$819,300

Gulf Harbour

$794,200

$799,650

3.7%

$691,950

Helensville

$628,950

$629,050

3.9%

$556,650

Manly

$868,450

$868,250

2.2%

$777,650

Omaha

$1,410,450

N/A

N/A

$1,330,500

Orewa

$872,200

$872,950

1.2%

$787,850

$819,250

$814,900 $802,050

4.6%

$725,400

3.3%

$745,550

$627,850 $620,500

29.8%

$531,200

29.3%

$581,400

53.4% 38.0%

15.6%

$616,900

29.6%

$572,400

39.7%

13.0%

$440,950

42.7%

$363,100

73.2%

11.7%

$662,550

31.0%

$570,700

52.1%

N/A

$1,164,100

N/A

$1,016,900

N/A

10.8%

$673,900

29.5%

$562,300

55.2%

12.3% 7.6%

40.6 % (2014 )

$935,000 (3 ) ()

$877,000 (10 )

$675,000 (13 )

$704,000 (5 )

$815,000 (14 )

$603,500 (11 ) $604,500 (10 )

$448,375 (36 ) $529,000 (15 )

28.1 % (2014 )

$692,000 (13 )

$764,750 (42 )

$657,000 (57 )

$537,000 (45 )

$527,000 (65 )

31.3%

43.6 % (2014 )

$673,000 (2 )

$605,491 (16 )

$546,500 (23 )

$459,000 (13 )

$399,000 (21 )

68.7%

42.9 % (2014 )

$775,500 (5 )

$712,000 (20 )

$686,500 (40 )

$539,000 (36 )

$563,000 (38 )

37.7%

31.9 % (2014 )

$910,000 (1 )

$930,000 (8 )

$1,197,000 (14 )

$959,000 (15 )

$802,000 (15 )

13.5%

32.6 % (2014 )

$849,000 (21 )

$848,500 (78 )

$799,000 (86 )

$718,500 (74 )

$629,500 (108 )

34.9% 32.5%

108.5% N/A

Red Beach

$916,550

$919,500

4.1%

$807,800

13.8%

$702,300

30.9%

$573,800

60.2%

41.8 % (2014 )

$719,000 (9 )

$767,500 (36 )

$776,000 (48 )

$643,000 (40 )

$542,500 (48 )

Silverdale

$1,165,450

$1,158,050

2.5%

$1,021,050

13.4%

$862,700

34.2%

N/A

N/A

28.6 % (2014 )

$1,045,000 (10 )

$1,147,500 (30 )

$985,000 (79 )

$840,000 (50 )

$792,750 (40 )

31.8%

Snells Beach

$729,800

$730,350

3.8%

$637,450

14.6%

$540,150

35.2%

$528,300

38.2%

39.1 % (2014 )

$747,500 (4 )

$575,000 (15 )

$666,000 (30 )

$470,000 (19 )

$531,000 (22 )

40.8%

Stanmore Bay

$799,600

$798,750

3.3%

$712,300

12.1%

$613,300

30.2%

$513,700

55.5%

45.4 % (2014 )

$727,000 (9 )

$645,500 (34 )

$649,000 (77 )

$542,000 (53 )

$514,500 (66 )

41.3%

Warkworth

$717,700

$705,600

0.8%

$634,200

11.3%

$536,300

31.6%

$492,200

43.4%

43.7 % (2014 )

$688,000 (11 )

$726,500 (30 )

$649,000 (51 )

$525,000 (34 )

$445,000 (46 )

54.6%

Wellsford

$479,650

$478,900

1.0%

$400,050

19.7%

$330,350

45.0%

$314,600

52.2%

58.3 % (2014 )

$440,000 (3 )

$446,500 (20 )

$394,000 (23 )

$363,000 (16 )

$307,250 (24 )

43.2%

$998,650 $1,369,700

$996,300

$558,800 $747,200

78.3% 83.3%

$924,000 (83 )

36.8%

$1,198,000 (14 )

$966,000 (13 )

$669,500 (44 ) $865,000 (13 )

$526,000 (64 )

35.4 % (2014 )

$719,500 (28 ) $1,030,000 (5 )

$1,089,000 (49 )

$994,700

41.9% 37.7%

45.4 % (2014 )

$1,253,600

12.8% 9.2%

$701,950

$1,369,450

4.3% 2.7%

$883,500

Bayswater

$697,750 (10 )

47.6%

Bayview

$848,300

$857,700

4.2%

$765,350

12.1%

$607,150

41.3%

$430,600

99.2%

38.3 % (2014 )

$834,000 (27 )

$812,000 (42 )

$729,000 (57 )

$544,500 (52 )

$564,000 (49 )

47.9%

Beach Haven

$879,100

$885,950

3.8%

$784,400

12.9%

$637,100

39.1%

$451,700

96.1%

41.4 % (2014 )

$790,000 (43 )

$795,500 (62 )

$729,000 (75 )

$583,500 (39 )

$564,000 (67 )

40.1%

Belmont

$1,181,350

$1,180,950

1.9%

$1,080,300

9.3%

$842,800

40.1%

$604,700

95.3%

47.9 % (2014 )

$1,170,000 (17 )

$1,169,000 (26 )

$1,077,000 (27 )

$777,000 (15 )

$680,000 (12 )

72.1%

Birkdale

$793,450

$790,350

2.6%

$719,100

9.9%

$577,450

36.9%

$397,100

99.0%

43.6 % (2014 )

$779,000 (37 )

$777,000 (61 )

$679,000 (63 )

$551,500 (56 )

$529,000 (49 )

47.3%

Birkenhead

$1,062,150

$1,063,900

3.4%

$952,700

11.7%

$776,000

37.1%

$565,700

88.1%

42.1 % (2014 )

$1,062,000 (33 )

$1,075,000 (50 )

$851,000 (54 )

$654,500 (46 )

$635,500 (66 )

67.1%

Browns Bay

$1,054,200

$1,054,350

2.5%

$964,600

9.3%

$743,700

41.8%

$543,700

93.9%

39.1 % (2014 )

$994,000 (52 )

$946,500 (64 )

$930,500 (70 )

$675,000 (71 )

$637,000 (63 )

56.0% 56.6%

NORTH SHORE Albany

Campbells Bay

$1,816,300

$1,815,250

0.8%

$1,669,350

8.7%

$1,370,500

32.5%

$1,028,600

76.5%

34.0 % (2014 )

$1,691,000 (6 )

$1,805,000 (11 )

$1,627,000 (24 )

$1,049,000 (7 )

$1,080,000 (23 )

Castor Bay

$1,638,950

$1,655,050

4.1%

$1,479,600

11.9%

$1,165,950

41.9%

$940,500

76.0%

47.3 % (2014 )

$1,706,500 (13 )

$1,461,000 (32 )

$1,613,500 (26 )

$1,207,500 (32 )

$960,000 (35 )

77.8%

Chatswood

$1,218,800

$1,227,150

2.6%

$1,165,150

5.3%

$928,700

32.1%

$671,800

82.7%

27.2 % (2014 )

$1,237,500 (8 )

$1,143,000 (10 )

$1,161,000 (16 )

$865,000 (17 )

$849,300 (14 )

45.7%

Devonport

$1,640,100

$1,653,600

0.6%

$1,518,650

8.9%

$1,237,700

33.6%

$951,700

73.8%

37.7 % (2014 )

$1,211,500 (32 )

$1,440,000 (37 )

$1,358,000 (28 )

$1,367,500 (22 )

$1,235,000 (29 )

-1.9%

Fairview Heights

$1,384,100

$1,365,450

3.2%

$1,246,250

9.6%

$983,500

38.8%

N/A

N/A

48.2 % (2014 )

$1,465,000 (15 )

$1,395,000 (21 )

$1,281,000 (20 )

$981,000 (9 )

$885,000 (25 )

65.5%

Forrest Hill

$1,195,100

$1,189,400

1.7%

$1,098,450

8.3%

$857,900

38.6%

$551,200

115.8%

41.0 % (2014 )

$1,114,500 (38 )

$1,033,500 (44 )

$1,107,000 (67 )

$782,000 (48 )

$724,000 (65 )

53.9%

Glenfield

$881,150

$892,350

2.8%

$801,550

11.3%

$638,600

39.7%

$429,700

107.7%

40.6 % (2014 )

$838,000 (80 )

$829,000 (104 )

$778,500 (134 )

$603,000 (100 )

$599,000 (120 )

39.9%

Greenhithe

$1,377,050

$1,382,650

1.0%

$1,262,500

9.5%

$1,035,300

33.6%

$774,600

78.5%

40.6 % (2014 )

$1,233,762 (31 )

$1,282,500 (44 )

$1,280,000 (77 )

$972,500 (32 )

$852,500 (47 )

44.7%

Hauraki

$1,462,300

$1,481,000

2.7%

$1,347,600

9.9%

$1,063,300

39.3%

$768,400

92.7%

47.2 % (2014 )

$1,502,000 (13 )

$1,432,000 (23 )

$1,297,000 (31 )

$1,077,000 (29 )

$808,000 (33 )

85.9%

Hillcrest

$1,064,200

$1,076,050

4.5%

$962,700

11.8%

$763,450

40.9%

$490,500

119.4%

45.3 % (2014 )

$992,000 (27 )

$980,000 (55 )

$925,000 (71 )

$747,800 (39 )

$659,000 (61 )

50.5%

Mairangi Bay

$1,431,200

$1,436,000

-0.2%

$1,318,350

8.9%

$1,049,950

36.8%

$746,200

92.4%

40.9 % (2014 )

$1,337,000 (18 )

$1,412,000 (23 )

$1,321,500 (32 )

$852,000 (36 )

$886,000 (33 )

50.9%

Milford

$1,374,950

$1,392,450

3.5%

$1,259,000

10.6%

$1,016,000

37.1%

$755,700

84.3%

47.4 % (2014 )

$1,194,000 (25 )

$1,289,000 (39 )

$1,159,500 (53 )

$797,000 (41 )

$784,375 (50 )

52.2%

Murrays Bay

$1,492,150

$1,489,300

2.6%

$1,388,750

7.2%

$1,073,200

38.8%

$789,200

88.7%

44.6 % (2014 )

$1,317,444 (14 )

$1,347,000 (21 )

$1,578,000 (23 )

$841,500 (28 )

$1,057,500 (32 )

24.6%

Narrow Neck

$1,504,600

$1,504,850

0.1%

$1,436,300

4.8%

$1,145,900

31.3%

$843,500

78.4%

45.8 % (2014 )

$1,339,500 (6 )

$1,339,500 (14 )

$1,312,000 (17 )

$1,057,000 (7 )

$907,000 (9 )

47.7%

Northcote

$1,069,800

$1,076,350

2.0%

$973,450

10.6%

$772,300

39.4%

$545,200

97.4%

48.1 % (2014 )

$1,029,000 (19 )

$1,161,000 (29 )

$894,000 (46 )

$685,000 (27 )

$660,500 (36 )

55.8%

Northcote Point

$1,369,300

$1,377,350

2.3%

$1,260,900

9.2%

$1,013,450

35.9%

$738,300

86.6%

()

$1,247,000 (17 )

$1,030,000 (13 )

$739,000 (15 )

$756,500 (17 )

N/A

Northcross

$1,114,100

$1,100,850

2.5%

$1,004,150

9.6%

$800,550

37.5%

$567,600

93.9%

37.8 % (2014 )

$1,092,000 (17 )

$1,092,000 (25 )

$940,000 (25 )

$806,500 (20 )

$670,500 (24 )

62.9% 50.2%

Oteha

$878,250

$870,400

3.1%

$775,300

12.3%

$605,400

43.8%

$497,800

74.8%

46.2 % (2014 )

$987,000 (16 )

$835,000 (33 )

$691,000 (75 )

$654,500 (26 )

$657,000 (33 )

Pinehill

$1,400,100

$1,389,850

5.3%

$1,193,050

16.5%

$966,700

43.8%

$733,900

89.4%

56.2 % (2014 )

$1,279,000 (15 )

$1,400,000 (14 )

$1,291,500 (24 )

$952,000 (13 )

$804,000 (33 )

59.1%

Rothesay Bay

$1,364,550

$1,367,900

2.1%

$1,235,350

10.7%

$1,007,100

35.8%

$738,500

85.2%

43.6 % (2014 )

$1,372,250 (10 )

$1,214,000 (16 )

$1,292,000 (15 )

$847,000 (25 )

$824,500 (20 )

66.4%

Schnapper Rock

$1,357,550

$1,378,600

3.8%

$1,249,900

10.3%

$996,800

38.3%

$793,400

73.8%

37.4 % (2014 )

$1,355,000 (11 )

$1,387,500 (16 )

$1,252,500 (32 )

$1,119,000 (16 )

$961,000 (32 )

41.0%

Stanley Point

$1,895,500

$1,897,300

1.0%

$1,762,900

7.6%

$1,467,600

29.3%

$1,114,200

70.3%

35.8 % (2014 )

$1,223,500 (2 )

$1,881,500 (3 )

$1,852,500 (14 )

$1,775,000 (9 )

$1,454,500 (4 )

-15.9%

Sunnynook

$1,001,400

$1,006,550

2.3%

$953,950

5.5%

$734,450

37.0%

$473,900

112.4%

32.0 % (2014 )

$884,000 (21 )

$867,000 (23 )

$914,000 (41 )

$683,500 (18 )

$658,500 (42 )

34.2%

Takapuna

$1,678,400

$1,683,450

6.2%

$1,460,300

15.3%

$1,233,150

36.5%

$934,700

80.1%

53.9 % (2014 )

$1,649,000 (19 )

$1,823,500 (32 )

$1,024,000 (58 )

$871,500 (50 )

$826,000 (59 )

99.6%

Torbay

$1,047,950

$1,046,300

3.4%

$942,950

11.0%

$745,900

40.3%

$554,300

88.8%

34.9 % (2014 )

$937,000 (58 )

$935,000 (81 )

$884,500 (98 )

$715,000 (71 )

$665,000 (91 )

40.9%

Totara Vale

$879,600

$875,600

6.7%

$790,550

10.8%

$633,300

38.3%

$432,700

102.4%

41.3 % (2014 )

$837,000 (29 )

$708,250 (28 )

$758,500 (58 )

$589,000 (27 )

$574,000 (45 )

45.8%

Unsworth Heights

$994,900

$999,000

4.8%

$892,550

11.9%

$717,750

39.2%

$533,000

87.4%

44.8 % (2014 )

$939,000 (21 )

$950,800 (29 )

$877,000 (27 )

$671,000 (28 )

$638,000 (30 )

47.2%

Waiake

$1,345,950

$1,360,200

2.2%

$1,247,450

9.0%

$1,032,950

31.7%

$818,500

66.2%

43.1 % (2014 )

$1,203,000 (5 )

$1,194,000 (6 )

$1,013,000 (4 )

$916,000 (7 )

$1,028,000 (8 )

17.0%

Windsor Park

$1,126,250

$1,131,350

5.5%

$989,850

14.3%

$827,350

36.7%

$583,900

93.8%

36.7 % (2014 )

$909,000 (7 )

$902,000 (6 )

$935,000 (13 )

$737,000 (13 )

$1,037,500 (6 )

-12.4%

WAITAKERE Glen Eden Glendene

$734,950 $769,850

$729,700 $770,450

3.1% 3.0%

$660,400 $691,850

10.5% 11.4%

$503,300 $518,650

45.0% 48.5%

$359,000 $388,600

103.3% 98.3%

49.5 % (2014 ) 51.6 % (2014 )

$709,000 (91 ) $757,000 (28 )

$682,000 (101 ) $745,000 (35 )

$627,000 (147 ) $687,000 (44 )

$502,000 (101 ) $464,000 (29 )

$446,000 (125 ) $442,000 (39 )

59.0% 71.3%

Smart property decisions start here


13

December 12, 2016 | PROPERTY REPORT

E-Valuer estimate of median value at

E-Valuer estimate of median value at

31OCT2016

30SEP2016

E-Valuer price change in 3 months to

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

median value at 30SEP2015

change in year to 30SEP2016

median value at 30SEP2014

change in 2 years to

30SEP2016

30SEP2016

E-Valuer estimate of E-Valuer price Sales price in 3 months to median value at change since 31AUG2016 in relation to CV market peak market peak (CV date in brackets) (31OCT2007)

Median price in 3 months to 31AUG2016

Median price in 3 months to 30JUN2016

Median price in 3 months to 30SEP2015

Median price in 3 months to 30SEP2014

Median price in 3 months to 30SEP2013

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(31OCT2007)

Median price change in 3 years to 30SEP2016

Green Bay

$907,800

$910,200

4.4%

$835,000

9.0%

$641,500

41.9%

$471,300

93.1%

47.6 % (2014 )

$892,000 (10 )

$854,500 (18 )

$811,000 (24 )

$575,000 (15 )

$619,000 (16 )

44.1%

Henderson

$775,500

$773,250

3.2%

$700,700

10.4%

$538,500

43.6%

$401,800

92.4%

48.9 % (2014 )

$734,600 (153 )

$759,000 (189 )

$715,600 (226 )

$549,000 (160 )

$475,000 (218 )

54.7%

Hobsonville

$925,600

$926,100

-0.2%

$848,700

9.1%

$704,800

31.4%

$511,000

81.2%

26.5 % (2014 )

$875,000 (31 )

$905,000 (42 )

$750,000 (59 )

$735,000 (39 )

$660,000 (40 )

32.6%

Kelston

$752,300

$747,100

5.2%

$668,550

11.7%

$515,500

44.9%

$341,600

118.7%

55.0 % (2014 )

$714,000 (15 )

$683,500 (26 )

$699,500 (30 )

$466,000 (18 )

$474,000 (21 )

50.6%

Laingholm

$784,100

$780,800

2.7%

$696,200

12.2%

$581,400

34.3%

$495,300

57.6%

51.2 % (2014 )

$847,000 (9 )

$942,000 (5 )

$685,000 (13 )

$539,500 (8 )

$465,500 (15 )

82.0%

Massey

$756,100

$748,300

2.3%

$684,150

9.4%

$513,100

45.8%

$382,900

95.4%

48.6 % (2014 )

$718,500 (96 )

$694,500 (142 )

$685,000 (191 )

$482,000 (103 )

$446,000 (153 )

61.1%

New Lynn

$753,950

$753,900

3.3%

$669,800

12.6%

$516,600

45.9%

$352,700

113.8%

50.5 % (2014 )

$682,000 (84 )

$724,000 (95 )

$636,000 (135 )

$447,000 (94 )

$417,500 (124 )

63.4%

Piha

$950,550

$955,350

1.1%

$887,850

7.6%

$718,750

32.9%

$768,700

24.3%

10.6 % (2014 )

$787,000 (3 )

$672,500 (6 )

$751,000 (8 )

$679,500 (4 )

$500,000 (6 )

57.4%

Ranui

$697,250

$696,900

5.6%

$615,700

13.2%

$464,750

50.0%

$346,500

101.1%

48.6 % (2014 )

$657,000 (61 )

$664,500 (74 )

$595,000 (84 )

$438,500 (69 )

$419,000 (85 )

56.8% 73.8%

Sunnyvale

$714,450

$714,450

2.6%

$647,050

10.4%

$501,250

42.5%

$369,600

93.3%

46.9 % (2014 )

$722,000 (22 )

$661,500 (26 )

$662,500 (32 )

$471,000 (12 )

$415,500 (26 )

Swanson

$824,750

$823,950

3.5%

$736,150

11.9%

$591,450

39.3%

$460,800

78.8%

50.9 % (2014 )

$854,500 (24 )

$802,500 (30 )

$674,000 (16 )

$604,500 (8 )

$496,500 (22 )

72.1%

Te Atatu Peninsula

$947,300

$950,450

1.6%

$853,800

11.3%

$679,050

40.0%

$457,600

107.7%

49.3 % (2014 )

$992,000 (40 )

$945,000 (74 )

$839,000 (66 )

$682,000 (43 )

$619,000 (73 )

60.3%

Te Atatu South

$832,400

$835,400

3.7%

$738,300

13.2%

$581,100

43.8%

$404,600

106.5%

49.9 % (2014 )

$758,000 (52 )

$731,000 (79 )

$676,000 (99 )

$558,125 (70 )

$547,000 (78 )

38.6%

Titirangi

$936,050

$934,000

3.6%

$839,250

11.3%

$698,900

33.6%

$520,900

79.3%

38.5 % (2014 )

$911,000 (36 )

$846,500 (58 )

$790,000 (70 )

$641,500 (50 )

$616,000 (69 )

47.9%

West Harbour

$1,015,900

$1,019,750

3.0%

$921,400

10.7%

$714,900

42.6%

$546,400

86.6%

48.7 % (2014 )

$1,057,000 (39 )

$990,500 (44 )

$805,500 (56 )

$621,000 (45 )

$641,750 (64 )

64.7%

AUCKLAND Auckland Central Avondale

$490,700

$489,600 $836,050

2.4%

$281,800

$407,000 (261 ) $820,000 (69 )

$415,000 (317 ) $800,000 (80 )

$345,000 (455 ) $753,000 (102 )

67.5%

$405,200

51.5 % (2014 ) 44.2 % (2014 )

$243,000 (397 )

40.2%

73.7% 106.3%

$268,000 (257 )

11.3%

$340,100 $596,150

44.0%

2.9%

$423,600 $751,500

15.6%

$830,700

$583,000 (74 )

$548,000 (93 )

49.6%

Blockhouse Bay

$993,100

$998,950

3.2%

$891,300

12.1%

$702,000

42.3%

$475,000

110.3%

52.2 % (2014 )

$874,000 (39 )

$907,000 (57 )

$872,000 (92 )

$692,500 (40 )

$616,500 (68 )

41.8%

Eden Terrace

$616,850

$613,300

2.6%

$539,900

13.6%

$432,000

42.0%

$361,500

69.7%

52.6 % (2014 )

$580,000 (32 )

$583,000 (29 )

$451,750 (54 )

$278,000 (35 )

$338,000 (30 )

71.6%

Ellerslie

$1,009,350

$1,008,900

1.5%

$900,750

12.0%

$725,500

39.1%

$490,000

105.9%

45.0 % (2014 )

$893,500 (36 )

$834,500 (38 )

$816,000 (54 )

$691,500 (52 )

$655,000 (55 )

36.4%

Epsom

$1,860,900

$1,862,900

2.3%

$1,697,500

9.7%

$1,391,200

33.9%

$908,100

105.1%

39.2 % (2014 )

$1,287,000 (53 )

$1,795,000 (59 )

$1,485,000 (107 )

$1,182,500 (54 )

$1,240,500 (80 )

3.7%

Freemans Bay

$1,304,850

$1,301,350

2.9%

$1,169,400

11.3%

$972,200

33.9%

$683,900

90.3%

31.8 % (2014 )

$842,000 (25 )

$1,087,000 (41 )

$794,000 (19 )

$783,000 (23 )

$982,000 (23 )

-14.3% 68.2%

Glen Innes

$962,950

$959,600

-1.1%

$856,800

12.0%

$686,500

39.8%

$418,500

129.3%

48.8 % (2014 )

$915,000 (9 )

$1,025,000 (10 )

$965,000 (21 )

$734,000 (14 )

$544,000 (8 )

Glendowie

$1,633,000

$1,624,250

3.3%

$1,490,850

8.9%

$1,202,900

35.0%

$817,800

98.6%

36.5 % (2014 )

$1,174,000 (22 )

$1,375,000 (30 )

$1,530,000 (45 )

$1,216,000 (37 )

$915,000 (43 )

28.3%

$513,850

$517,700

5.5%

$451,800

14.6%

$366,000

41.4%

$317,900

62.8%

41.9 % (2014 )

$493,000 (17 )

$575,000 (15 )

$368,750 (44 )

$258,000 (23 )

$238,750 (32 )

106.5%

Greenlane

$1,470,100

$1,468,600

1.0%

$1,332,550

10.2%

$1,062,200

38.3%

$725,100

102.5%

46.8 % (2014 )

$1,203,000 (25 )

$1,242,500 (30 )

$1,103,300 (35 )

$945,500 (30 )

$787,000 (31 )

52.9%

Grey Lynn

$1,367,450

$1,363,550

4.9%

$1,242,400

9.8%

$1,015,850

34.2%

$654,100

108.5%

40.7 % (2014 )

$931,000 (36 )

$1,217,000 (47 )

$1,392,000 (47 )

$892,000 (59 )

$791,000 (74 )

17.7%

Herne Bay

$2,396,000

$2,385,200

3.4%

$2,126,400

12.2%

$1,805,200

32.1%

$1,466,000

62.7%

44.0 % (2014 )

$1,796,500 (12 )

$2,120,000 (12 )

$1,675,000 (19 )

$935,000 (17 )

$1,560,000 (17 )

15.2%

Grafton

Hillsborough

$1,102,300

$1,101,600

1.1%

$993,700

10.9%

$805,450

36.8%

$580,000

89.9%

44.7 % (2014 )

$1,122,000 (23 )

$945,500 (32 )

$952,500 (38 )

$900,500 (16 )

$685,000 (49 )

63.8%

Kingsland

$1,146,000

$1,149,400

1.6%

$1,016,500

13.1%

$819,750

40.2%

$538,300

113.5%

41.8 % (2014 )

$1,364,000 (9 )

$1,013,500 (10 )

$980,000 (17 )

$842,500 (13 )

$870,000 (13 )

56.8%

Kohimarama

$1,654,450

$1,639,250

1.5%

$1,477,600

10.9%

$1,229,300

33.3%

$934,600

75.4%

36.7 % (2014 )

$1,802,500 (12 )

$1,587,250 (24 )

$1,046,000 (30 )

$960,000 (31 )

$1,181,000 (17 )

52.6%

Lynfield

$1,041,300

$1,044,900

2.0%

$933,350

12.0%

$770,200

35.7%

$542,100

92.8%

51.4 % (2014 )

$933,000 (7 )

$814,000 (14 )

$884,000 (11 )

$804,000 (11 )

$588,000 (18 )

58.7%

Meadowbank

$1,294,600

$1,284,200

1.9%

$1,163,150

10.4%

$928,200

38.4%

$606,600

111.7%

40.7 % (2014 )

$1,515,000 (21 )

$1,515,000 (19 )

$965,000 (33 )

$971,500 (26 )

$840,000 (22 )

80.4% 164.9%

Mission Bay

$1,690,500

$1,681,550

2.7%

$1,507,200

11.6%

$1,245,050

35.1%

$948,500

77.3%

48.5 % (2014 )

$2,000,000 (21 )

$1,889,000 (21 )

$1,163,500 (26 )

$885,000 (13 )

$755,000 (21 )

Morningside

$1,046,800

$1,051,400

2.7%

$932,300

12.8%

$730,650

43.9%

$507,900

107.0%

57.0 % (2014 )

$633,500 (13 )

$795,752 (18 )

$565,000 (25 )

$590,500 (18 )

$407,250 (22 )

55.6%

Mount Albert

$1,093,400

$1,091,950

2.5%

$981,350

11.3%

$761,300

43.4%

$517,900

110.8%

50.4 % (2014 )

$973,000 (51 )

$939,000 (68 )

$877,000 (95 )

$722,000 (70 )

$583,000 (103 )

66.9%

Mount Eden

$1,442,400

$1,445,700

3.0%

$1,296,600

11.5%

$1,042,550

38.7%

$688,600

109.9%

45.9 % (2014 )

$1,186,000 (62 )

$1,385,000 (66 )

$1,107,500 (124 )

$921,000 (104 )

$916,000 (105 )

29.5%

Mount Roskill

$976,150

$981,250

2.0%

$886,850

10.6%

$704,400

39.3%

$475,700

106.3%

44.8 % (2014 )

$909,500 (82 )

$869,500 (104 )

$856,000 (120 )

$714,000 (81 )

$633,500 (114 )

43.6%

Mount Wellington New Windsor

$780,800 $981,450

$787,150 $1,003,950

2.3% 2.2%

$710,200 $900,800

10.8% 11.5%

$560,500 $736,150

40.4% 36.4%

$385,800 $458,400

104.0% 119.0%

50.5 % (2014 ) 49.3 % (2014 )

$717,000 (75 ) $1,098,000 (18 )

$705,500 (103 ) $996,500 (17 )

$702,000 (99 ) $886,000 (19 )

$522,000 (97 ) $740,500 (16 )

$478,500 (112 ) $717,000 (19 )

49.8% 53.1%

Newmarket

$721,100

$722,100

1.2%

$650,400

11.0%

$510,800

41.4%

N/A

N/A

47.4 % (2014 )

$763,490 (11 )

$740,000 (10 )

$615,000 (11 )

$618,000 (9 )

$430,000 (13 )

77.6%

One Tree Hill

$1,087,650

$1,082,800

2.2%

$952,850

13.6%

$775,300

39.7%

$520,500

108.0%

43.8 % (2014 )

$976,675 (22 )

$905,500 (18 )

$831,000 (30 )

$806,000 (17 )

$631,000 (30 )

54.8%

Onehunga

$939,600

$937,150

3.7%

$833,450

12.4%

$663,250

41.3%

$464,300

101.8%

46.3 % (2014 )

$894,000 (84 )

$883,000 (83 )

$727,000 (95 )

$644,000 (64 )

$538,500 (93 )

66.0%

Oneroa

$1,183,400

$1,190,350

3.4%

$1,061,150

12.2%

$879,600

35.3%

$688,100

73.0%

55.2 % (2014 )

$980,000 (17 )

$990,000 (23 )

$817,000 (20 )

$627,000 (26 )

$562,000 (29 )

74.4%

Onetangi

$1,173,800

$1,177,400

2.5%

$1,081,150

8.9%

$865,500

36.0%

$739,500

59.2%

60.3 % (2014 )

$835,000 (8 )

$767,000 (12 )

$725,000 (7 )

$542,000 (11 )

$552,000 (17 )

51.3%

Orakei

$1,744,800

$1,749,150

2.5%

$1,559,950

12.1%

$1,292,200

35.4%

$988,300

77.0%

42.0 % (2014 )

$1,351,000 (18 )

$1,409,000 (19 )

$1,530,000 (35 )

$1,022,000 (25 )

$908,500 (32 )

48.7%

Ostend

$876,550

$882,250

3.6%

$773,100

14.1%

$612,900

43.9%

$515,500

71.1%

18.9 % (2014 )

$704,500 (4 )

$818,000 (13 )

$677,500 (16 )

$512,000 (13 )

$417,500 (13 )

68.7%

Otahuhu

$594,050

$600,500

2.1%

$535,000

12.2%

$400,250

50.0%

$298,700

101.0%

56.5 % (2014 )

$542,000 (31 )

$614,000 (33 )

$546,500 (42 )

$432,750 (46 )

$397,000 (63 )

36.5% 24.5%

Panmure

$803,150

$803,600

0.1%

$750,200

7.1%

$575,350

39.7%

$403,300

99.3%

47.2 % (2014 )

$652,000 (19 )

$684,000 (21 )

$760,000 (29 )

$588,000 (19 )

$523,500 (26 )

Parnell

$1,577,450

$1,564,750

2.8%

$1,434,200

9.1%

$1,201,800

30.2%

$915,800

70.9%

24.4 % (2014 )

$886,500 (22 )

$1,070,000 (36 )

$1,230,000 (56 )

$1,565,000 (46 )

$798,000 (51 )

11.1%

Point Chevalier

$1,442,350

$1,440,850

3.5%

$1,284,850

12.1%

$1,027,750

40.2%

$667,500

115.9%

36.5 % (2014 )

$1,318,000 (24 )

$1,437,000 (27 )

$1,028,000 (26 )

$980,000 (37 )

$973,500 (34 )

35.4%

Point England

$900,550

$900,900

-0.6%

$806,650

11.7%

$641,500

40.4%

$397,500

126.6%

32.6 % (2014 )

$716,000 (1 )

$732,000 (11 )

$802,500 (10 )

$570,000 (9 )

$620,500 (6 )

15.4%

Ponsonby

$1,708,200

$1,707,950

2.1%

$1,548,500

10.3%

$1,325,550

28.8%

$853,500

100.1%

34.9 % (2014 )

$1,663,500 (28 )

$1,540,000 (29 )

$1,503,000 (28 )

$1,397,000 (22 )

$1,085,000 (25 )

53.3%

Remuera

$1,915,500

$1,908,650

0.8%

$1,790,750

6.6%

$1,498,400

27.4%

$1,058,800

80.3%

33.6 % (2014 )

$1,493,000 (89 )

$1,494,000 (116 )

$1,655,000 (151 )

$1,258,000 (121 )

$1,160,000 (134 )

28.7%

Royal Oak

$1,126,450

$1,125,350

2.4%

$1,022,500

10.1%

$820,500

37.2%

$561,700

100.3%

45.5 % (2014 )

$924,000 (15 )

$824,000 (15 )

$873,500 (30 )

$714,000 (17 )

$644,000 (29 )

43.5%

Saint Johns

$1,195,900

$1,189,050

5.1%

$1,071,900

10.9%

$863,500

37.7%

$600,800

97.9%

47.3 % (2014 )

$857,500 (20 )

$903,000 (29 )

$935,500 (32 )

$798,500 (30 )

$635,500 (27 )

34.9%

Saint Marys Bay

$2,222,800

$2,216,300

5.6%

$1,957,050

13.2%

$1,638,550

35.3%

$1,212,900

82.7%

27.0 % (2014 )

$1,155,000 (7 )

$2,155,000 (9 )

$970,000 (9 )

$1,660,000 (5 )

$1,812,500 (10 )

-36.3%

Sandringham

$1,109,100

$1,118,200

3.4%

$989,500

13.0%

$780,900

43.2%

$504,400

121.7%

46.6 % (2014 )

$875,000 (35 )

$797,000 (45 )

$997,000 (51 )

$752,000 (53 )

$538,500 (70 )

62.5%

St Heliers

$1,656,300

$1,652,850

3.3%

$1,496,750

10.4%

$1,231,100

34.3%

$927,200

78.3%

38.6 % (2014 )

$1,392,500 (47 )

$1,341,000 (58 )

$1,301,000 (80 )

$1,046,000 (62 )

$867,000 (59 )

60.6%

Stonefields

$1,353,800

$1,357,800

6.9%

$1,168,700

16.2%

$992,550

36.8%

N/A

N/A

47.9 % (2014 )

$1,328,500 (26 )

$1,130,000 (49 )

$1,083,000 (43 )

$662,000 (87 )

$961,500 (36 )

38.2%

Surfdale

$842,550

$839,800

3.1%

$733,850

14.4%

$582,150

44.3%

$516,800

62.5%

48.9 % (2014 )

$673,000 (5 )

$780,500 (10 )

$650,000 (21 )

$519,500 (20 )

$447,000 (20 )

50.6%

Three Kings

$995,850

$999,150

2.9%

$884,450

13.0%

$726,200

37.6%

$514,100

94.3%

46.0 % (2014 )

$879,000 (5 )

$1,237,000 (9 )

$796,000 (9 )

$582,000 (14 )

$575,000 (14 )

52.9%

Wai O Taiki Bay

$1,189,850

$1,187,450

0.9%

$1,059,600

12.1%

$847,850

40.1%

$528,600

124.6%

40.5 % (2014 )

$961,500 (2 )

$2,147,000 (1 )

$1,271,500 (2 )

$758,000 (5 )

$675,000 (7 )

42.4%

Waterview

$937,600

$938,000

3.7%

$855,650

9.6%

$678,650

38.2%

$453,200

107.0%

38.0 % (2014 )

$862,000 (9 )

$917,000 (19 )

$848,500 (22 )

$686,000 (17 )

$652,500 (16 )

32.1%

Westmere

$1,825,850

$1,807,850

5.6%

$1,640,050

10.2%

$1,346,800

34.2%

$869,900

107.8%

27.2 % (2014 )

$1,493,000 (9 )

$1,602,000 (15 )

$1,607,000 (23 )

$1,004,500 (20 )

$1,211,500 (22 )

23.2%

MANUKAU Beachlands Botany Downs

$1,125,550

$1,125,700

1.4%

$1,011,500

11.3%

$862,050

30.6%

$659,700

70.6%

34.2 % (2014 )

$1,071,000 (32 )

$1,070,000 (45 )

$1,136,000 (26 )

$860,000 (33 )

$735,500 (30 )

45.6%

$1,042,600

$1,044,050

4.6%

$893,750

16.8%

$723,500

44.3%

$522,600

99.8%

47.7 % (2014 )

$1,003,500 (24 )

$944,500 (24 )

$908,500 (34 )

$682,500 (31 )

$677,000 (49 )

48.2%

Bucklands Beach

$1,278,200

$1,278,050

3.1%

$1,099,200

16.3%

$910,550

40.4%

$650,000

96.6%

45.6 % (2014 )

$1,173,000 (44 )

$1,320,000 (53 )

$1,042,000 (65 )

$885,000 (35 )

$775,000 (47 )

51.4%

Burswood

$954,600

$971,300

5.8%

$858,300

13.2%

$672,700

44.4%

$474,700

104.6%

38.3 % (2014 )

$944,500 (4 )

$879,000 (11 )

$804,500 (12 )

$740,500 (8 )

$617,500 (5 )

53.0%

Clendon Park

$558,400

$558,000

2.5%

$490,250

13.8%

$359,700

55.1%

$293,100

90.4%

59.1 % (2014 )

$540,500 (38 )

$524,000 (48 )

$472,800 (80 )

$345,500 (66 )

$302,000 (88 )

79.0%

Clover Park

$659,050

$661,550

5.2%

$578,450

14.4%

$432,700

52.9%

$335,700

97.1%

54.0 % (2014 )

$652,500 (25 )

$620,000 (36 )

$549,000 (37 )

$424,000 (26 )

$376,000 (41 )

73.5%

Cockle Bay

$1,266,500

$1,265,750

2.7%

$1,104,150

14.6%

$916,500

38.1%

$694,800

82.2%

41.6 % (2014 )

$990,400 (26 )

$1,067,000 (30 )

$1,067,500 (20 )

$848,000 (22 )

$714,000 (33 )

38.7%

Dannemora

$1,427,400

$1,436,100

1.6%

$1,270,800

13.0%

$1,011,350

42.0%

$718,200

100.0%

50.1 % (2014 )

$1,254,000 (8 )

$1,285,000 (17 )

$1,335,000 (10 )

$915,000 (14 )

$919,500 (22 )

36.4%

East Tamaki

$886,000

$896,650

4.0%

$762,250

17.6%

$638,100

40.5%

$471,000

90.4%

41.5 % (2014 )

$765,500 (24 )

$597,000 (37 )

$647,500 (56 )

$444,000 (31 )

$669,000 (29 )

14.4%

East Tamaki Heights

$1,333,300

$1,341,150

3.8%

$1,139,750

17.7%

$950,100

41.2%

$697,600

92.3%

44.6 % (2014 )

$1,184,500 (14 )

$1,261,000 (18 )

$1,148,500 (24 )

$887,000 (22 )

$834,000 (17 )

42.0%

Eastern Beach

$1,496,250

$1,495,750

5.3%

$1,294,000

15.6%

$1,064,700

40.5%

$792,500

88.7%

40.2 % (2014 )

$999,000 (5 )

$1,308,000 (10 )

$1,556,500 (4 )

$674,500 (8 )

$990,000 (10 )

0.9%

Farm Cove

$1,357,100

$1,362,200

2.1%

$1,203,750

13.2%

$963,600

41.4%

$674,900

101.8%

48.8 % (2014 )

$1,332,000 (11 )

$1,487,000 (13 )

$867,000 (16 )

$759,050 (16 )

$778,000 (8 )

71.2%

Smart property decisions start here


14

December 12, 2016 | PROPERTY REPORT

E-Valuer estimate of median value at

E-Valuer estimate of median value at

31OCT2016

30SEP2016

E-Valuer price change in 3 months to

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

median value at 30SEP2015

change in year to 30SEP2016

median value at 30SEP2014

change in 2 years to

30SEP2016

E-Valuer estimate of E-Valuer price Sales price in 3 months to median value at change since 31AUG2016 in relation to CV market peak market peak (CV date in brackets)

30SEP2016

(31OCT2007)

(31OCT2007)

Median price in 3 months to 31AUG2016

Median price in 3 months to 30JUN2016

Median price in 3 months to 30SEP2015

Median price in 3 months to 30SEP2014

Median price in 3 months to 30SEP2013

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

Median price change in 3 years to 30SEP2016

Favona

$655,350

$652,750

4.0%

$570,100

14.5%

$456,650

42.9%

$346,600

88.3%

54.1 % (2014 )

$656,000 (29 )

$699,000 (27 )

$606,500 (50 )

$455,500 (23 )

$408,000 (22 )

Flat Bush

$1,067,600

$1,066,900

2.4%

$918,400

16.2%

$742,000

43.8%

$582,800

83.1%

44.3 % (2014 )

$1,057,000 (143 )

$977,000 (149 )

$897,500 (162 )

$757,750 (190 )

$697,000 (225 )

60.8% 51.6%

Golflands

$1,090,100

$1,106,200

1.5%

$951,100

16.3%

$770,900

43.5%

$551,600

100.5%

41.9 % (2014 )

$1,033,000 (16 )

$1,159,000 (21 )

$961,000 (20 )

$719,500 (15 )

$790,500 (22 )

30.7%

Goodwood Heights

$877,500

$876,750

3.6%

$772,600

13.5%

$623,850

40.5%

$526,300

66.6%

45.4 % (2014 )

$716,500 (16 )

$739,000 (21 )

$760,500 (24 )

$623,400 (18 )

$532,000 (17 )

34.7%

Half Moon Bay

$1,208,800

$1,209,250

1.5%

$1,053,550

14.8%

$858,350

40.9%

$619,100

95.3%

45.5 % (2014 )

$1,024,500 (32 )

$1,024,500 (40 )

$924,500 (42 )

$726,000 (36 )

$659,500 (34 )

55.3%

Highland Park

$955,400

$960,650

5.7%

$817,750

17.5%

$651,250

47.5%

$472,900

103.1%

47.0 % (2014 )

$932,000 (19 )

$906,000 (25 )

$749,000 (16 )

$589,000 (12 )

$550,000 (18 )

69.5%

Howick

$996,650

$992,650

4.7%

$866,700

14.5%

$715,350

38.8%

$512,000

93.9%

44.9 % (2014 )

$924,000 (59 )

$911,000 (58 )

$832,000 (76 )

$693,000 (68 )

$676,000 (66 )

36.7%

Mangere

$668,200

$663,600

4.1%

$583,000

13.8%

$450,700

47.2%

$339,800

95.3%

45.4 % (2014 )

$639,000 (36 )

$631,500 (36 )

$575,500 (65 )

$475,000 (50 )

$398,500 (64 )

60.4%

Mangere Bridge

$964,950

$963,500

3.5%

$837,350

15.1%

$668,250

44.2%

$455,700

111.4%

37.5 % (2014 )

$832,000 (34 )

$827,000 (41 )

$793,250 (57 )

$617,000 (31 )

$591,750 (30 )

40.6%

Mangere East

$641,800

$642,850

4.3%

$555,150

15.8%

$424,700

51.4%

$317,000

102.8%

61.6 % (2014 )

$644,000 (47 )

$622,000 (70 )

$557,550 (90 )

$426,000 (73 )

$365,500 (78 )

76.2%

Manurewa

$649,350

$650,500

3.2%

$575,250

13.1%

$428,150

51.9%

$336,800

93.1%

59.5 % (2014 )

$606,000 (194 )

$595,000 (235 )

$559,000 (305 )

$396,000 (228 )

$357,000 (256 )

69.7% 89.3%

Manurewa East

$613,850

$626,900

6.4%

$542,000

15.7%

$400,650

56.5%

$321,400

95.1%

64.1 % (2014 )

$643,500 (16 )

$614,000 (18 )

$536,500 (30 )

$389,600 (12 )

$340,000 (19 )

Maraetai

$1,204,850

$1,225,900

2.6%

$1,026,800

19.4%

$877,700

39.7%

$748,500

63.8%

36.9 % (2014 )

$1,070,000 (11 )

$971,000 (20 )

$801,000 (14 )

$759,500 (16 )

$815,750 (12 )

31.2%

Mellons Bay

$1,572,500

$1,573,300

3.0%

$1,383,200

13.7%

$1,147,950

37.1%

$812,100

93.7%

44.6 % (2014 )

$1,420,000 (11 )

$1,485,000 (17 )

$1,335,000 (23 )

$1,089,500 (18 )

$914,000 (13 )

55.4%

Northpark

$1,188,650

$1,188,450

0.2%

$1,040,700

14.2%

$839,950

41.5%

$585,100

103.1%

50.1 % (2014 )

$1,190,400 (18 )

$1,199,500 (22 )

$992,000 (23 )

$855,000 (23 )

$812,500 (18 )

46.5%

Otara

$579,500

$573,150

5.4%

$505,850

13.3%

$358,150

60.0%

$280,300

104.5%

58.9 % (2014 )

$550,000 (30 )

$526,750 (30 )

$499,500 (48 )

$355,000 (35 )

$307,000 (39 )

79.2%

Pakuranga

$933,450

$937,350

2.0%

$825,300

13.6%

$654,650

43.2%

$467,900

100.3%

49.1 % (2014 )

$919,000 (31 )

$847,500 (46 )

$772,000 (61 )

$624,500 (36 )

$565,000 (51 )

62.7%

Pakuranga Heights

$920,250

$925,150

3.3%

$833,250

11.0%

$646,500

43.1%

$448,500

106.3%

41.4 % (2014 )

$906,000 (26 )

$909,000 (29 )

$849,500 (46 )

$628,000 (34 )

$599,250 (46 )

51.2%

Papatoetoe

$704,000

$702,750

1.8%

$617,850

13.7%

$475,200

47.9%

$368,200

90.9%

55.1 % (2014 )

$662,000 (177 )

$660,000 (213 )

$587,000 (308 )

$469,000 (233 )

$390,000 (240 )

69.7% 88.2%

Randwick Park

$598,150

$593,850

2.1%

$524,750

13.2%

$383,050

55.0%

$323,600

83.5%

54.3 % (2014 )

$559,000 (24 )

$537,000 (34 )

$507,750 (58 )

$317,500 (36 )

$297,000 (56 )

Shelly Park

$1,251,700

$1,252,250

2.8%

$1,104,450

13.4%

$909,800

37.6%

$706,300

77.3%

40.2 % (2014 )

$1,350,000 (7 )

$1,054,500 (12 )

$924,000 (13 )

$767,000 (15 )

$704,000 (11 )

91.8%

Somerville

$1,219,800

$1,220,300

1.9%

$1,064,800

14.6%

$876,700

39.2%

$633,800

92.5%

37.3 % (2014 )

$1,002,000 (17 )

$1,035,000 (19 )

$1,083,500 (20 )

$908,000 (23 )

$752,000 (21 )

33.2%

Sunnyhills

$1,299,600

$1,302,950

3.3%

$1,140,100

14.3%

$921,900

41.3%

$638,900

103.9%

46.4 % (2014 )

$896,000 (17 )

$1,009,000 (19 )

$969,000 (36 )

$862,000 (20 )

$714,000 (19 )

25.5%

The Gardens

$1,034,950

$1,028,100

4.8%

$904,200

13.7%

$752,750

36.6%

$620,800

65.6%

35.4 % (2014 )

$1,019,000 (15 )

$957,000 (21 )

$941,000 (16 )

$679,500 (22 )

$664,000 (18 )

53.5%

Totara Heights

$831,450

$830,200

3.3%

$748,800

10.9%

$603,900

37.5%

$487,300

70.4%

37.7 % (2014 )

$673,000 (6 )

$704,000 (17 )

$754,000 (11 )

$569,000 (12 )

$499,000 (11 )

34.9%

Wattle Downs

$791,050

$786,400

2.1%

$715,900

9.8%

$577,000

36.3%

$449,400

75.0%

36.9 % (2014 )

$712,000 (35 )

$727,500 (58 )

$689,750 (48 )

$574,000 (42 )

$475,000 (51 )

49.9%

Weymouth

$620,250

$616,550

3.9%

$548,650

12.4%

$404,700

52.3%

$330,600

86.5%

59.4 % (2014 )

$554,000 (60 )

$534,000 (73 )

$526,000 (85 )

$440,000 (88 )

$344,000 (65 )

61.0%

PAPAKURA/FRANKLIN Clarks Beach Conifer Grove

$747,800

$745,400

3.5%

$650,300

14.6%

$575,750

29.5%

$528,300

41.1%

28.2 % (2014 )

$751,000 (10 )

$608,000 (10 )

$576,500 (20 )

$505,000 (9 )

$426,000 (9 )

76.3%

$779,750

$780,800

0.6%

$695,600

12.2%

$543,000

43.8%

$458,600

70.3%

48.8 % (2014 )

$694,000 (25 )

$777,000 (25 )

$695,250 (26 )

$552,000 (17 )

$554,500 (20 )

25.2%

Manukau

$537,050

$533,800

4.4%

$460,200

16.0%

$380,950

40.1%

$304,500

75.3%

46.6 % (2014 )

$522,500 (14 )

$522,500 (10 )

$367,000 (27 )

$325,500 (18 )

$284,000 (28 )

84.0%

Opaheke

$701,300

$695,700

4.0%

$625,800

11.2%

$476,800

45.9%

$391,900

77.5%

52.3 % (2014 )

$674,000 (21 )

$649,000 (20 )

$619,000 (41 )

$464,000 (15 )

$434,000 (15 )

55.3%

Pahurehure

$760,250

$770,450

6.4%

$696,300

10.6%

$532,800

44.6%

$444,100

73.5%

42.6 % (2014 )

$744,000 (13 )

$735,250 (22 )

$686,000 (30 )

$514,000 (11 )

$471,500 (18 )

57.8%

Papakura

$598,000

$597,350

4.0%

$524,700

13.8%

$388,500

53.8%

$324,400

84.1%

59.1 % (2014 )

$589,000 (150 )

$559,000 (165 )

$504,000 (223 )

$373,000 (133 )

$343,500 (155 )

71.5%

Pukekohe

$652,950

$649,850

3.1%

$578,800

12.3%

$486,600

33.5%

$406,400

59.9%

37.0 % (2014 )

$591,500 (160 )

$589,000 (201 )

$560,000 (211 )

$452,000 (117 )

$452,000 (127 )

30.9%

Red Hill

$601,100

$596,600

4.5%

$522,250

14.2%

$390,650

52.7%

$336,700

77.2%

62.5 % (2014 )

$577,500 (16 )

$545,500 (19 )

$419,000 (31 )

$376,000 (13 )

$329,500 (14 )

75.3%

Rosehill

$669,300

$663,200

3.2%

$578,700

14.6%

$453,750

46.2%

$374,300

77.2%

45.4 % (2014 )

$810,500 (20 )

$824,500 (32 )

$550,750 (38 )

$485,500 (26 )

$408,000 (24 )

98.7%

Takanini

$702,500

$704,250

3.8%

$616,700

14.2%

$471,250

49.4%

$393,200

79.1%

51.2 % (2014 )

$712,000 (74 )

$714,000 (86 )

$626,500 (98 )

$511,000 (76 )

$426,000 (111 )

67.1%

Waiuku

$579,200

$574,350

2.6%

$503,850

14.0%

$414,750

38.5%

$377,600

52.1%

42.9 % (2014 )

$571,500 (48 )

$545,000 (67 )

$505,525 (102 )

$394,000 (61 )

$373,000 (94 )

53.2%

$250,050 $146,700

$246,500

6.5%

$204,100

$175,000 (19 )

$151,000 (23 )

$141,250 (16 ) $128,000 (7 )

17.6%

-18.1%

$194,000 (43 ) $156,000 (32 )

$185,000 (21 )

$130,800

18.9 % (2014 ) 1.0 % (2016 )

$214,000 (39 )

3.4%

$224,200 $177,800

$217,500 (44 )

0.3%

20.8% 11.4%

9.9%

$145,700

$212,300 $140,900

16.1%

Kaikohe

$171,500 (6 )

2.0%

Kaitaia

$186,850

$186,600

0.9%

$162,550

14.8%

$156,600

19.2%

$214,200

-12.9%

-2.5 % (2016 )

$192,750 (30 )

$177,000 (30 )

$139,000 (42 )

$133,250 (20 )

$201,000 (17 )

-4.1%

Kamo

$421,600

$417,300

4.4%

$353,700

18.0%

$314,100

32.9%

$360,900

15.6%

20.7 % (2015 )

$386,500 (62 )

$359,000 (93 )

$347,000 (83 )

$292,998 (48 )

$313,000 (65 )

23.5%

Kensington

$395,050

$391,150

5.9%

$310,900

25.8%

$296,400

32.0%

$344,000

13.7%

31.8 % (2015 )

$343,134 (52 )

$346,000 (49 )

$312,500 (38 )

$291,400 (28 )

$259,000 (31 )

32.5%

Kerikeri

$566,100

$564,200

2.5%

$491,200

14.9%

$455,600

23.8%

$508,700

10.9%

-0.4 % (2016 )

$527,000 (55 )

$569,000 (75 )

$474,000 (111 )

$437,000 (49 )

$368,500 (51 )

43.0%

Mangawhai Heads

$705,400

$706,300

2.4%

$599,800

17.8%

$567,800

24.4%

$552,800

27.8%

40.6 % (2014 )

$639,000 (18 )

$589,250 (28 )

$531,000 (33 )

$414,500 (20 )

$403,500 (20 )

58.4%

Maunu

$542,300

$537,300

4.8%

$458,400

17.2%

$433,900

23.8%

$463,100

16.0%

28.2 % (2015 )

$495,000 (17 )

$498,250 (24 )

$449,500 (24 )

$402,000 (7 )

$374,500 (14 )

32.2%

Morningside

$340,900

$344,550

6.4%

$272,350

26.5%

$238,800

44.3%

$279,200

23.4%

20.1 % (2015 )

$311,500 (21 )

$314,500 (30 )

$278,000 (13 )

$262,000 (6 )

$225,250 (8 )

38.3%

One Tree Point

$633,600

$631,800

7.8%

$529,550

19.3%

$492,300

28.3%

$574,000

10.1%

29.2 % (2015 )

$624,000 (17 )

$562,000 (27 )

$529,500 (22 )

$429,000 (15 )

$419,000 (18 )

48.9%

Onerahi

$394,700

$390,900

4.9%

$325,300

20.2%

$294,550

32.7%

$335,100

16.7%

18.5 % (2015 )

$355,000 (38 )

$357,000 (50 )

$319,500 (46 )

$263,750 (30 )

$275,000 (46 )

29.1%

Raumanga

$269,700

$269,650

5.2%

$215,000

25.4%

$201,200

34.0%

$244,800

10.2%

27.3 % (2015 )

$261,150 (31 )

$251,000 (47 )

$213,000 (40 )

$190,000 (16 )

$196,625 (26 )

32.8%

THE REGION

WHANGAREI/NORTHLAND Dargaville

Ruakaka

$481,750

$478,450

7.7%

$387,600

23.4%

$356,550

34.2%

$397,700

20.3%

30.9 % (2015 )

$482,000 (13 )

$450,500 (12 )

$439,000 (22 )

$344,000 (15 )

$294,500 (16 )

63.7%

Tikipunga

$348,200

$345,650

5.3%

$279,550

23.6%

$253,500

36.4%

$296,900

16.4%

24.2 % (2015 )

$350,500 (38 )

$324,000 (49 )

$271,000 (39 )

$249,000 (21 )

$254,500 (26 )

37.7%

Whangarei Heads

$596,150

$577,700

6.5%

$495,100

16.7%

$451,950

27.8%

$541,600

6.7%

27.9 % (2015 )

$519,500 (4 )

$544,000 (5 )

$414,000 (9 )

$383,000 (4 )

$450,000 (5 )

15.4%

Whau Valley

$390,150

$383,100

6.2%

$311,400

23.0%

$293,800

30.4%

$343,700

11.5%

28.6 % (2015 )

$350,000 (19 )

$339,000 (14 )

$309,000 (17 )

$232,000 (8 )

$304,000 (9 )

15.1%

$401,350 $579,850

5.7%

$325,200 $549,950

23.4% 5.4%

$305,300

31.5%

25.3% -0.8%

$368,500 (74 ) $405,500 (18 )

$313,000 (99 ) $394,000 (23 )

$290,500 (40 ) $367,000 (6 )

45.3%

9.3 % (2014 )

$384,000 (51 ) $439,000 (17 )

$264,250 (44 )

10.4%

$320,200 $584,500

29.0 % (2015 )

$525,250

$347,500 (9 )

26.3%

COROMANDEL/HAURAKI/MATAMATA Matamata $406,200 Matarangi

$595,900

1.4%

Morrinsville

$400,900

$397,450

8.1%

$315,650

25.9%

$300,700

32.2%

$315,400

26.0%

31.4 % (2015 )

$382,000 (49 )

$342,000 (54 )

$295,000 (68 )

$308,000 (37 )

$250,000 (61 )

52.8%

Paeroa

$286,850

$284,400

5.0%

$232,800

22.2%

$206,050

38.0%

$233,400

21.9%

34.8 % (2015 )

$275,000 (5 )

$236,000 (19 )

$218,000 (48 )

$192,000 (29 )

$190,500 (26 )

44.4%

Pauanui

$711,050

$700,700

1.3%

$636,750

10.0%

$623,900

12.3%

$684,500

2.4%

17.0 % (2014 )

$492,500 (32 )

$550,250 (28 )

$522,000 (40 )

$594,500 (10 )

$462,500 (16 )

6.5%

Tairua

$588,450

$582,000

4.9%

$506,000

15.0%

$491,300

18.5%

$537,000

8.4%

24.8 % (2014 )

$464,000 (21 )

$457,000 (27 )

$392,000 (25 )

$434,500 (8 )

$381,000 (13 )

21.8%

Te Aroha

$329,000

$322,800

6.1%

$261,400

23.5%

$248,300

30.0%

$266,200

21.3%

34.3 % (2015 )

$326,500 (24 )

$303,500 (42 )

$264,000 (47 )

$224,000 (18 )

$210,000 (26 )

55.5%

Thames

$428,400

$428,800

4.1%

$346,200

23.9%

$306,950

39.7%

$336,800

27.3%

40.4 % (2014 )

$375,000 (49 )

$378,000 (52 )

$330,000 (57 )

$271,000 (48 )

$315,000 (43 )

19.0%

Waihi Whangamata

$308,400 $622,950

$302,650 $620,650

6.3% 3.7%

$233,000 $536,800

29.9% 15.6%

$214,400 $499,000

41.2% 24.4%

$256,700 $533,000

17.9% 16.4%

38.4 % (2015 ) 28.9 % (2014 )

$303,000 (7 ) $560,000 (49 )

$297,500 (16 ) $542,000 (55 )

$206,000 (57 ) $449,000 (99 )

$207,500 (39 ) $420,000 (51 )

$223,000 (27 ) $402,000 (45 )

35.9% 39.3%

Whitianga

$550,050

$551,800

5.5%

$462,700

19.3%

$430,000

28.3%

$476,200

15.9%

21.6 % (2014 )

$447,000 (66 )

$477,000 (61 )

$385,000 (73 )

$358,000 (32 )

$340,000 (41 )

31.5%

Beerescourt

$380,050 $609,950

$379,600 $607,400

1.1% 2.1%

$297,100 $506,450

27.8% 19.9%

$239,350 $425,550

58.6% 42.7%

$257,900 $432,700

47.2% 40.4%

32.8 % (2015 ) 18.2 % (2015 )

$375,000 (11 ) $583,500 (10 )

$382,000 (9 ) $521,500 (12 )

$302,000 (20 ) $444,000 (21 )

$232,000 (8 ) $575,000 (7 )

$233,000 (9 ) $327,500 (12 )

60.9% 78.2%

Chartwell

$524,900

$523,750

5.1%

$426,700

22.7%

$359,300

45.8%

$364,300

43.8%

27.1 % (2015 )

$538,000 (33 )

$514,000 (41 )

$409,125 (72 )

$373,500 (40 )

$334,000 (44 )

61.1%

Claudelands

$498,700

$492,800

2.7%

$410,500

20.0%

$361,350

36.4%

$352,200

39.9%

25.6 % (2015 )

$510,000 (13 )

$434,000 (21 )

$380,000 (15 )

$329,000 (13 )

$387,000 (13 )

31.8%

Dinsdale

$470,500

$468,950

3.6%

$385,800

21.6%

$330,700

41.8%

$332,400

41.1%

26.3 % (2015 )

$467,000 (43 )

$467,000 (61 )

$385,000 (83 )

$322,125 (32 )

$310,000 (51 )

50.6%

Enderley

$377,950

$378,450

2.9%

$298,300

26.9%

$251,550

50.4%

$270,100

40.1%

30.3 % (2015 )

$330,000 (11 )

$364,000 (20 )

$319,000 (35 )

$247,000 (16 )

$250,000 (19 )

32.0%

Fairfield

$476,050

$476,100

5.1%

$386,500

23.2%

$332,300

43.3%

$340,600

39.8%

22.8 % (2015 )

$408,000 (29 )

$411,100 (34 )

$322,500 (46 )

$321,000 (25 )

$260,000 (41 )

56.9%

Fairview Downs

$461,700

$465,300

7.2%

$379,200

22.7%

$311,200

49.5%

$317,300

46.6%

22.1 % (2015 )

$460,500 (12 )

$419,000 (10 )

$374,000 (21 )

$305,500 (10 )

$284,000 (21 )

62.1%

Fitzroy

$483,400

$484,050

3.4%

$390,200

24.1%

$315,800

53.3%

$313,500

54.4%

21.7 % (2015 )

$435,500 (4 )

$427,500 (6 )

$389,000 (11 )

$276,500 (5 )

$304,355 (7 )

43.1%

HAMILTON CITY Bader

Smart property decisions start here


15

December 12, 2016 | PROPERTY REPORT

E-Valuer estimate of median value at

E-Valuer estimate of median value at

31OCT2016

30SEP2016

E-Valuer price change in 3 months to

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

median value at 30SEP2015

change in year to 30SEP2016

median value at 30SEP2014

change in 2 years to

30SEP2016

E-Valuer estimate of E-Valuer price Sales price in 3 months to median value at change since 31AUG2016 in relation to CV market peak market peak (CV date in brackets)

30SEP2016

(31OCT2007)

Median price in 3 months to 31AUG2016

Median price in 3 months to 30JUN2016

Median price in 3 months to 30SEP2015

Median price in 3 months to 30SEP2014

Median price in 3 months to 30SEP2013

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(31OCT2007)

Median price change in 3 years to 30SEP2016

Flagstaff

$735,100

$736,600

4.2%

$609,400

20.9%

$515,750

42.8%

$490,700

50.1%

20.3 % (2015 )

$704,500 (51 )

$746,544 (78 )

$639,000 (95 )

$551,000 (63 )

$486,000 (58 )

Forest Lake

$487,300

$486,250

3.6%

$388,850

25.0%

$322,300

50.9%

$323,900

50.1%

25.0 % (2015 )

$519,000 (12 )

$494,000 (19 )

$377,000 (12 )

$308,500 (10 )

$329,300 (19 )

45.0% 57.6%

Frankton

$399,700

$399,150

4.3%

$323,650

23.3%

$283,050

41.0%

$295,800

34.9%

22.7 % (2015 )

$375,000 (59 )

$353,000 (56 )

$293,000 (91 )

$283,500 (42 )

$274,000 (56 )

36.9%

Glenview

$500,700

$498,400

4.1%

$399,700

24.7%

$332,250

50.0%

$333,500

49.4%

24.1 % (2015 )

$473,000 (29 )

$474,000 (31 )

$394,000 (38 )

$309,000 (27 )

$306,000 (35 )

54.6%

Hamilton East

$474,100

$471,500

3.7%

$388,950

21.2%

$334,300

41.0%

$331,300

42.3%

16.9 % (2015 )

$450,000 (68 )

$405,795 (83 )

$376,000 (129 )

$311,250 (58 )

$309,500 (70 )

45.4%

Hillcrest

$536,000

$532,300

5.1%

$430,300

23.7%

$375,250

41.9%

$365,400

45.7%

25.4 % (2015 )

$506,500 (21 )

$494,000 (34 )

$409,000 (63 )

$368,500 (26 )

$341,500 (37 )

48.3%

Huntington

$748,150

$750,400

3.3%

$628,000

19.5%

$525,950

42.7%

$532,000

41.1%

24.5 % (2015 )

$712,000 (49 )

$712,000 (42 )

$614,000 (83 )

$504,000 (52 )

$497,000 (49 )

43.3%

Maeroa

$466,800

$465,850

3.4%

$368,550

26.4%

$312,750

49.0%

$317,000

47.0%

24.2 % (2015 )

$445,000 (21 )

$422,500 (20 )

$334,000 (23 )

$290,000 (9 )

$332,000 (19 )

34.0% 45.0%

Melville

$429,350

$428,850

2.7%

$346,000

23.9%

$285,750

50.1%

$292,900

46.4%

22.8 % (2015 )

$406,000 (39 )

$385,000 (43 )

$334,000 (53 )

$295,000 (24 )

$280,000 (35 )

Nawton

$433,700

$432,500

5.7%

$343,800

25.8%

$287,000

50.7%

$298,100

45.1%

28.3 % (2015 )

$401,500 (78 )

$390,000 (83 )

$298,500 (114 )

$266,000 (51 )

$266,500 (84 )

50.7%

Pukete

$562,350

$572,400

5.7%

$451,900

26.7%

$392,600

45.8%

$369,800

54.8%

26.5 % (2015 )

$557,000 (20 )

$504,000 (21 )

$422,000 (24 )

$384,500 (16 )

$329,000 (26 )

69.3%

Queenwood

$644,050

$645,200

4.7%

$536,600

20.2%

$453,700

42.2%

$450,800

43.1%

21.3 % (2015 )

$570,500 (12 )

$548,000 (6 )

$559,000 (13 )

$495,000 (6 )

$483,875 (14 )

17.9%

Rototuna

$706,400

$717,300

3.7%

$593,500

20.9%

$492,550

45.6%

$482,800

48.6%

21.3 % (2015 )

$750,000 (11 )

$668,250 (18 )

$576,000 (32 )

$494,000 (18 )

$474,500 (24 )

58.1%

Rototuna North

$733,400

$734,900

5.1%

$588,450

24.9%

$490,650

49.8%

$465,300

57.9%

28.8 % (2015 )

$732,000 (32 )

$692,000 (36 )

$568,000 (33 )

$503,000 (22 )

$475,500 (44 )

53.9%

Saint Andrews

$555,100

$554,300

4.8%

$463,100

19.7%

$393,700

40.8%

$371,600

49.2%

18.0 % (2015 )

$502,000 (19 )

$485,000 (27 )

$425,000 (37 )

$345,154 (24 )

$327,750 (24 )

53.2%

Silverdale

$482,550

$479,550

4.9%

$383,500

25.0%

$330,900

44.9%

$328,200

46.1%

24.2 % (2015 )

$469,000 (9 )

$421,750 (10 )

$355,000 (17 )

$326,250 (8 )

$320,000 (11 )

46.6%

3.7% 8.0%

$475,200 $216,200

19.0%

$435,650

29.8% 58.7%

$265,500 (34 )

$621,500 (61 ) $274,000 (55 )

$433,000 (81 ) $228,500 (88 )

$434,000 (65 )

$187,200

41.3 % (2016 ) 71.4 % (2014 )

$556,550 (52 )

37.4%

$403,800 $212,500

40.0%

$297,000

$170,500 (28 )

$371,000 (78 ) $185,000 (45 )

50.0% 43.5% 45.3%

WAIKATO/WAIPA/OTOROHANGA/SOUTH WAIKATO Cambridge $565,500 $567,150 Huntly

$297,600

39.8%

Kihikihi

$323,350

$315,150

3.9%

$254,350

23.9%

$244,450

28.9%

$250,700

25.7%

34.4 % (2016 )

$333,500 (18 )

$297,500 (26 )

$249,000 (21 )

$225,000 (9 )

$229,500 (14 )

Leamington

$506,050

$501,100

3.6%

$412,850

21.4%

$384,600

30.3%

$356,100

40.7%

44.4 % (2016 )

$475,500 (54 )

$514,000 (73 )

$429,500 (92 )

$367,900 (55 )

$335,000 (71 )

41.9%

Ngaruawahia

$330,700

$327,900

6.5%

$252,850

29.7%

$222,300

47.5%

$253,100

29.6%

49.3 % (2014 )

$316,000 (27 )

$311,000 (41 )

$236,500 (52 )

$292,000 (30 )

$228,000 (34 )

38.6% 15.0%

Putaruru

$216,150

$214,300

6.1%

$172,700

24.1%

$169,550

26.4%

$193,600

10.7%

31.4 % (2015 )

$186,250 (46 )

$219,000 (45 )

$180,000 (53 )

$164,000 (14 )

$162,000 (20 )

Raglan

$567,300

$565,800

7.6%

$443,200

27.7%

$403,050

40.4%

$454,000

24.6%

41.5 % (2014 )

$409,000 (21 )

$417,000 (26 )

$389,500 (40 )

$367,000 (24 )

$380,500 (16 )

7.5%

Te Awamutu

$395,900

$391,050

3.9%

$320,000

22.2%

$294,000

33.0%

$310,300

26.0%

39.1 % (2016 )

$381,500 (94 )

$362,000 (121 )

$319,000 (132 )

$286,750 (74 )

$291,500 (100 )

30.9%

Tokoroa

$143,800

$142,350

5.8%

$121,100

17.5%

$113,500

25.4%

$142,000

0.2%

24.7 % (2015 )

$133,000 (99 )

$128,750 (90 )

$115,500 (90 )

$108,500 (41 )

$135,000 (38 )

-1.5%

Tuakau

$509,300

$504,550

3.0%

$427,350

18.1%

$357,950

41.0%

$321,800

56.8%

43.4 % (2014 )

$504,000 (23 )

$509,000 (41 )

$448,500 (50 )

$378,000 (43 )

$345,500 (38 )

45.9%

WAITOMO/TAUPO/RUAPEHU $473,800 Hilltop Kinloch $586,650

$470,600 $583,400

5.4%

$397,350 $502,200

18.4%

$328,000 (30 ) $435,000 (11 )

$350,000 (28 ) $358,000 (9 )

$324,000 (12 ) $439,000 (8 )

$318,500 (16 )

14.8%

28.8 % (2016 ) 22.5 % (2016 )

$340,000 (22 )

23.6%

$437,300 $508,400

7.6%

16.2%

$365,500 $471,900

28.8%

3.1%

6.8% 7.9%

$463,000 (11 )

$429,000 (7 )

Kuratau

$416,350

$415,550

4.2%

$395,900

5.0%

$373,850

11.2%

$458,300

-9.3%

-0.9 % (2016 )

$341,000 (6 )

$314,500 (14 )

$340,000 (5 )

$317,500 (4 )

N/A

N/A

Nukuhau

$437,600

$429,250

3.9%

$373,900

14.8%

$349,100

23.0%

$383,200

12.0%

28.2 % (2016 )

$371,000 (19 )

$364,250 (46 )

$386,750 (24 )

$344,000 (19 )

$372,000 (23 )

-0.3%

Ohakune

$219,400

$219,150

1.4%

$198,300

10.5%

$213,900

2.5%

$246,900

-11.2%

5.5 % (2014 )

$200,000 (23 )

$200,000 (31 )

$177,000 (13 )

$177,000 (11 )

$163,750 (8 )

22.1%

Omori

$375,200

$376,900

3.6%

$360,550

4.5%

$348,050

8.3%

$429,000

-12.1%

2.2 % (2016 )

$306,000 (11 )

$288,000 (7 )

$301,000 (5 )

N/A

$439,250 (2 )

-30.3%

Richmond Heights

$390,600

$383,950

1.9%

$315,500

21.7%

$295,850

29.8%

$331,300

15.9%

30.1 % (2016 )

$366,000 (31 )

$374,000 (23 )

$310,000 (23 )

$304,000 (14 )

$249,500 (8 )

46.7%

Tauhara

$252,500

$252,150

0.7%

$207,700

21.4%

$198,950

26.7%

$243,900

3.4%

20.8 % (2016 )

$258,825 (10 )

$257,000 (18 )

$188,500 (15 )

$262,500 (6 )

$241,500 (6 )

7.2%

Taumarunui

$109,600

$109,250

4.7%

$93,200

17.2%

$106,350

2.7%

$131,900

-17.2%

0.4 % (2014 )

$119,000 (40 )

$124,000 (28 )

$72,000 (29 )

$98,500 (16 )

$138,000 (9 )

-13.8%

Taupo

$366,250

$367,100

5.6%

$305,100

20.3%

$284,400

29.1%

$339,200

8.2%

24.1 % (2016 )

$346,000 (57 )

$311,000 (67 )

$250,000 (58 )

$271,349 (40 )

$269,000 (38 )

28.6%

Te Kuiti

$157,450

$158,700

3.3%

$140,450

13.0%

$133,100

19.2%

$176,800

-10.2%

14.0 % (2015 )

$155,500 (25 )

$158,250 (32 )

$159,500 (29 )

$175,000 (9 )

$155,000 (12 )

0.3%

Turangi

$185,650

$184,650

-1.2%

$170,100

8.6%

$170,550

8.3%

$230,500

-19.9%

3.2 % (2016 )

$142,750 (32 )

$167,000 (29 )

$150,250 (26 )

$162,000 (11 )

$141,000 (15 )

1.2%

Waipahihi

$574,050

$572,750

5.2%

$496,050

15.5%

$448,850

27.6%

$546,000

4.9%

15.5 % (2016 )

$553,500 (14 )

$492,000 (17 )

$567,000 (21 )

$532,000 (3 )

$511,500 (8 )

8.2%

$496,750 $728,850

$486,500

4.5% 5.5%

$383,700

26.8%

38.8% 29.9%

52.8 % (2014 ) 44.2 % (2014 )

$455,000 (21 ) $702,000 (15 )

$431,000 (33 ) $736,000 (14 )

$286,500 (40 )

$307,000 (25 )

25.3%

41.0% 31.8%

$355,500 (70 )

$579,550

$345,000 $550,950

$350,600

$726,050

$543,000 (35 )

$501,000 (25 )

$495,000 (21 )

48.2% 41.8%

Pukehina

$593,750

$578,050

4.3%

$455,050

27.0%

$435,100

32.9%

$544,200

6.2%

51.6 % (2014 )

$553,000 (12 )

$663,000 (17 )

$470,000 (14 )

$472,750 (6 )

$344,000 (5 )

60.8%

Te Puke

$422,200

$419,700

5.4%

$315,700

32.9%

$287,400

46.0%

$316,400

32.6%

55.5 % (2014 )

$412,000 (42 )

$366,000 (51 )

$310,000 (109 )

$280,000 (31 )

$262,000 (37 )

57.3%

Waihi Beach

$683,750

$681,800

4.6%

$571,200

19.4%

$565,950

20.5%

$617,500

10.4%

37.2 % (2014 )

$651,000 (21 )

$659,000 (21 )

$471,000 (47 )

$477,500 (18 )

$446,250 (18 )

45.9%

$512,200 $704,300

$513,950

6.1%

$403,750

27.3% 23.1%

$499,600

41.8%

39.2 % (2015 ) 33.0 % (2015 )

$445,500 (14 ) $683,500 (36 )

$410,500 (26 ) $760,000 (41 )

$424,000 (32 )

$575,600

49.7% 37.6%

48.4%

5.7%

$343,350 $515,000

$346,300

$708,500

$317,000 (25 ) $563,000 (45 )

$305,200 (23 ) $509,500 (53 )

46.0% 34.2%

Brookfield

$526,650

$527,000

7.6%

$409,700

28.6%

$343,700

53.3%

$347,300

51.7%

35.6 % (2015 )

$494,500 (29 )

$483,000 (24 )

$355,500 (47 )

$355,000 (29 )

$347,450 (31 )

42.3%

Gate Pa

$424,000

$432,050

5.3%

$323,150

33.7%

$273,700

57.9%

$288,600

49.7%

41.2 % (2015 )

$428,500 (20 )

$395,500 (38 )

$300,000 (55 )

$262,000 (33 )

$261,700 (31 )

63.7%

Greerton

$478,800

$482,500

4.1%

$370,200

30.3%

$311,150

55.1%

$326,300

47.9%

42.1 % (2015 )

$488,000 (27 )

$450,000 (20 )

$358,000 (34 )

$298,000 (28 )

$292,700 (22 )

66.7%

WESTERN BAY OF PLENTY Katikati Omokoroa

TAURANGA Bellevue Bethlehem

$558,800

$574,500 (74 )

Hairini

$486,100

$484,500

4.5%

$383,200

26.4%

$334,100

45.0%

$344,600

40.6%

33.0 % (2015 )

$467,500 (8 )

$392,000 (19 )

$441,000 (17 )

$319,000 (11 )

$271,550 (15 )

72.2%

Judea

$486,850

$484,600

7.5%

$373,400

29.8%

$317,700

52.5%

$324,700

49.2%

33.9 % (2015 )

$448,000 (19 )

$385,000 (26 )

$357,000 (24 )

$306,000 (17 )

$300,075 (30 )

49.3%

Matua

$769,950

$761,400

3.7%

$615,200

23.8%

$542,550

40.3%

$547,800

39.0%

33.2 % (2015 )

$675,500 (26 )

$675,500 (34 )

$561,000 (52 )

$390,000 (45 )

$442,000 (26 )

52.8%

Maungatapu

$591,800

$585,900

3.2%

$452,300

29.5%

$438,750

33.5%

$441,600

32.7%

41.6 % (2015 )

$574,000 (13 )

$568,000 (15 )

$439,000 (23 )

$461,500 (10 )

$380,450 (14 )

50.9%

Mount Maunganui

$788,700

$780,600

6.2%

$642,800

21.4%

$536,800

45.4%

$551,500

41.5%

25.5 % (2015 )

$639,500 (128 )

$626,000 (141 )

$504,000 (226 )

$412,000 (122 )

$381,775 (130 )

67.5%

Ohauiti

$648,900

$652,700

4.4%

$529,800

23.2%

$461,800

41.3%

$462,100

41.2%

32.9 % (2015 )

$676,500 (20 )

$661,000 (19 )

$541,000 (35 )

$445,500 (24 )

$401,500 (20 )

68.5%

Otumoetai

$678,600

$673,350

4.0%

$541,200

24.4%

$477,000

41.2%

$487,900

38.0%

39.3 % (2015 )

$601,000 (29 )

$566,000 (53 )

$486,000 (63 )

$383,000 (34 )

$424,125 (50 )

41.7%

Papamoa Beach

$659,000

$654,700

2.9%

$537,600

21.8%

$457,300

43.2%

$464,200

41.0%

30.5 % (2015 )

$632,000 (155 )

$618,000 (189 )

$526,000 (243 )

$430,000 (145 )

$407,500 (170 )

55.1%

Parkvale

$410,000

$415,250

4.6%

$312,600

32.8%

$264,650

56.9%

$278,600

49.0%

43.5 % (2015 )

$423,000 (15 )

$426,250 (12 )

$307,000 (21 )

$267,000 (11 )

$257,950 (11 )

64.0%

Pyes Pa

$652,150

$655,850

4.5%

$536,200

22.3%

$473,250

38.6%

$475,200

38.0%

32.0 % (2015 )

$648,500 (42 )

$612,500 (48 )

$560,500 (82 )

$420,500 (50 )

$387,500 (41 )

67.4%

Tauranga South

$577,450

$571,050

5.1%

$449,500

27.0%

$392,400

45.5%

$420,300

35.9%

37.9 % (2015 )

$501,000 (21 )

$586,000 (32 )

$439,000 (47 )

$368,750 (24 )

$329,950 (24 )

51.8%

Welcome Bay

$547,400

$541,350

2.1%

$432,100

25.3%

$374,150

44.7%

$379,800

42.5%

32.9 % (2015 )

$547,000 (61 )

$533,000 (51 )

$430,000 (88 )

$358,000 (58 )

$328,300 (73 )

66.6%

ROTORUA Fairy Springs Fordlands

$276,900

$271,800

7.5%

$210,700

29.0%

$194,400

39.8%

$228,400

19.0%

35.5 % (2014 )

$226,000 (7 )

$250,000 (10 )

$176,000 (11 )

$193,000 (12 )

$111,500 (3 )

102.7%

$145,250

$142,800

6.8%

$115,450

23.7%

$104,500

36.7%

$124,400

14.8%

40.9 % (2014 )

$133,500 (13 )

$121,500 (10 )

$116,500 (8 )

$110,000 (4 )

$104,750 (2 )

27.4%

Glenholme

$380,950

$378,750

5.3%

$302,850

25.1%

$284,050

33.3%

$325,100

16.5%

41.8 % (2014 )

$315,500 (26 )

$389,000 (28 )

$307,575 (24 )

$309,000 (19 )

$359,000 (11 )

-12.1%

Hillcrest

$327,850

$327,100

9.0%

$259,750

25.9%

$236,800

38.1%

$263,900

23.9%

37.1 % (2014 )

$273,500 (6 )

$283,000 (12 )

$272,000 (10 )

$261,000 (5 )

$235,000 (11 )

16.4%

Kawaha Point

$418,550

$413,000

2.4%

$349,900

18.0%

$333,950

23.7%

$387,100

6.7%

31.4 % (2014 )

$335,000 (7 )

$404,250 (14 )

$324,000 (13 )

$203,500 (8 )

$233,000 (10 )

43.8%

Koutu

$230,650

$226,350

3.7%

$179,100

26.4%

$162,500

39.3%

$203,000

11.5%

41.1 % (2014 )

$150,000 (10 )

$164,000 (10 )

$137,000 (10 )

$371,000 (2 )

$175,000 (2 )

-14.3%

Lynmore

$521,200

$518,400

8.6%

$425,150

21.9%

$402,050

28.9%

$404,400

28.2%

37.8 % (2014 )

$469,000 (19 )

$454,000 (12 )

$356,500 (28 )

$394,000 (11 )

$426,500 (18 )

10.0%

Mangakakahi

$260,150

$256,650

4.7%

$197,000

30.3%

$178,300

43.9%

$212,300

20.9%

42.2 % (2014 )

$251,000 (19 )

$236,000 (25 )

$202,000 (29 )

$171,000 (7 )

$180,000 (15 )

39.4%

Ngongotaha

$349,050

$345,250

9.2%

$269,100

28.3%

$258,150

33.7%

$283,400

21.8%

38.4 % (2014 )

$320,113 (20 )

$297,000 (19 )

$274,000 (25 )

$243,500 (12 )

$291,000 (19 )

10.0%

Owhata

$336,650

$334,100

7.5%

$267,750

24.8%

$252,350

32.4%

$273,900

22.0%

38.0 % (2014 )

$295,500 (38 )

$268,500 (55 )

$255,500 (50 )

$331,000 (16 )

$264,000 (31 )

11.9%

Pukehangi

$329,600

$326,100

4.9%

$259,900

25.5%

$243,700

33.8%

$267,800

21.8%

38.8 % (2014 )

$285,000 (26 )

$258,000 (37 )

$205,000 (31 )

$281,000 (18 )

$194,000 (17 )

46.9%

Springfield

$438,700

$435,550

4.2%

$365,600

19.1%

$344,100

26.6%

$370,000

17.7%

38.1 % (2014 )

$405,500 (14 )

$393,000 (22 )

$324,000 (26 )

$340,750 (16 )

$319,000 (13 )

27.1%

Utuhina

$319,800

$321,450

11.5%

$246,750

30.3%

$224,900

42.9%

$250,700

28.2%

31.1 % (2014 )

$299,000 (13 )

$284,000 (11 )

$261,000 (10 )

$168,000 (4 )

$201,000 (6 )

48.8%

Smart property decisions start here


16

December 12, 2016 | PROPERTY REPORT

E-Valuer estimate of median value at

E-Valuer estimate of median value at

31OCT2016

30SEP2016

E-Valuer price change in 3 months to

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

median value at 30SEP2015

change in year to 30SEP2016

median value at 30SEP2014

change in 2 years to

30SEP2016

30SEP2016

(31OCT2007)

(31OCT2007)

Median price in 3 months to 31AUG2016

Median price in 3 months to 30JUN2016

Median price in 3 months to 30SEP2015

Median price in 3 months to 30SEP2014

Median price in 3 months to 30SEP2013

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

Median price change in 3 years to 30SEP2016

$233,050

5.4%

$179,950

29.5%

$162,800

43.2%

$204,900

13.7%

39.5 % (2014 )

$220,000 (19 )

$221,500 (22 )

$168,250 (20 )

$131,500 (7 )

$130,000 (11 )

69.2%

WHAKATANE/KAWERAU/OPOTIKI Kawerau $152,850

$151,000

$207,000 (20 )

$142,000 (72 ) $180,000 (27 )

$96,000 (61 ) $161,000 (20 )

$158,000 (11 )

$104,500 (16 ) $171,500 (14 )

34.4%

-1.0%

56.6 % (2015 ) 26.9 % (2013 )

$103,800 (22 )

27.8%

$148,500 $195,300

$140,500 (52 )

$158,050

$103,300 $151,250

1.7%

$193,250

46.2% 22.3%

46.2%

$192,350

5.3% 4.2%

$103,250

Opotiki Whakatane

$361,500

$359,650

5.3%

$292,600

22.9%

$282,450

27.3%

$317,700

13.2%

25.1 % (2013 )

$329,500 (98 )

$326,000 (118 )

$287,000 (100 )

$279,000 (50 )

$260,250 (70 )

26.6%

$288,550

$286,050

3.4%

$256,500 $515,700

11.5%

-1.4 % (2016 ) 9.9 % (2014 )

$273,500 (32 ) $440,500 (20 )

$274,500 (28 ) $445,000 (22 )

$245,500 (24 )

2.1%

$236,800 $470,800

20.8%

$524,400

$246,050 $478,000

16.3%

$530,000

$233,500 (16 ) $440,500 (12 )

$223,000 (17 ) $295,000 (15 )

22.6% 49.3%

Western Heights

$232,900

E-Valuer estimate of E-Valuer price Sales price in 3 months to median value at change since 31AUG2016 in relation to CV market peak market peak (CV date in brackets)

20.7%

LOWER NORTH ISLAND GISBORNE/HAWKES BAY Akina Bluff Hill

9.7%

11.4%

1.7%

$429,000 (21 )

Flaxmere

$194,000

$190,500

6.5%

$162,650

17.1%

$151,000

26.2%

$178,200

6.9%

-0.2 % (2016 )

$181,500 (34 )

$171,750 (46 )

$141,750 (40 )

$133,250 (18 )

$162,000 (25 )

12.0%

Frimley

$409,500

$406,650

2.5%

$354,250

14.8%

$344,200

18.1%

$364,200

11.7%

-0.4 % (2016 )

$364,500 (12 )

$345,100 (12 )

$332,500 (15 )

$319,000 (12 )

$420,250 (21 )

-13.3%

Gisborne

$256,600

$252,750

2.6%

$226,350

11.7%

$223,200

13.2%

$271,200

-6.8%

18.3 % (2014 )

$274,000 (9 )

$397,000 (6 )

$223,000 (12 )

$576,000 (3 )

$159,000 (7 )

72.3%

Greenmeadows

$433,950

$432,650

2.3%

$378,800

14.2%

$366,350

18.1%

$375,800

15.1%

20.8 % (2014 )

$439,000 (19 )

$417,000 (43 )

$342,000 (51 )

$387,000 (17 )

$309,000 (29 )

42.1%

Havelock North

$528,900

$527,800

3.2%

$468,200

12.7%

$441,200

19.6%

$465,200

13.5%

-0.4 % (2016 )

$487,000 (84 )

$497,500 (116 )

$474,500 (92 )

$459,000 (59 )

$415,500 (70 )

17.2%

Hospital Hill

$498,400

$496,650

2.4%

$446,050

11.3%

$436,200

13.9%

$471,700

5.3%

20.8 % (2014 )

$355,000 (14 )

$440,000 (20 )

$412,000 (33 )

$357,000 (11 )

$414,500 (8 )

-14.4%

Inner Kaiti

$284,750

$281,400

3.3%

$252,550

11.4%

$255,500

10.1%

$321,400

-12.4%

9.8 % (2014 )

$311,500 (12 )

$339,500 (8 )

$261,500 (8 )

$312,250 (4 )

$250,000 (5 )

24.6%

Mahora

$333,000

$329,400

1.8%

$288,650

14.1%

$277,050

18.9%

$297,700

10.6%

-3.3 % (2016 )

$296,000 (28 )

$307,500 (23 )

$260,000 (23 )

$237,000 (13 )

$231,750 (16 )

27.7%

Mangapapa

$232,050

$228,250

4.5%

$209,700

8.8%

$209,150

9.1%

$239,500

-4.7%

12.9 % (2014 )

$230,000 (20 )

$222,000 (5 )

$224,000 (21 )

$195,000 (15 )

$193,000 (22 )

19.2%

Maraenui

$197,900

$192,850

9.1%

$156,050

23.6%

$142,900

35.0%

$194,700

-1.0%

32.0 % (2014 )

$190,250 (16 )

$174,000 (14 )

$160,000 (11 )

$148,000 (6 )

$152,500 (4 )

24.8%

Marewa

$298,350

$296,150

3.2%

$252,450

17.3%

$239,600

23.6%

$270,400

9.5%

23.2 % (2014 )

$284,500 (21 )

$284,500 (33 )

$264,000 (25 )

$279,000 (15 )

$227,000 (21 )

25.3%

Mayfair

$290,200

$288,350

2.7%

$251,500

14.7%

$235,750

22.3%

$261,900

10.1%

0.1 % (2016 )

$287,500 (21 )

$270,000 (33 )

$270,000 (29 )

$197,613 (18 )

$255,000 (31 )

12.7%

Napier South

$346,000

$342,100

5.2%

$285,550

19.8%

$272,850

25.4%

$288,600

18.5%

23.3 % (2014 )

$359,000 (25 )

$349,000 (39 )

$262,500 (38 )

$270,250 (26 )

$305,000 (29 )

17.7%

Onekawa

$307,750

$307,600

5.0%

$261,400

17.7%

$250,200

22.9%

$264,400

16.3%

23.8 % (2014 )

$299,000 (29 )

$296,000 (43 )

$269,000 (47 )

$252,000 (21 )

$254,500 (36 )

17.5%

Parkvale

$310,900

$309,250

2.1%

$274,200

12.8%

$259,350

19.2%

$283,200

9.2%

-3.6 % (2016 )

$278,000 (27 )

$270,500 (38 )

$274,000 (25 )

$228,000 (13 )

$274,000 (25 )

1.5%

Pirimai

$321,450

$315,500

3.3%

$271,350

16.3%

$260,500

21.1%

$272,300

15.9%

20.9 % (2014 )

$282,500 (17 )

$305,000 (19 )

$279,000 (21 )

$284,000 (15 )

$269,000 (35 )

5.0%

Raureka

$294,050

$291,850

3.8%

$248,650

17.4%

$240,000

21.6%

$270,500

7.9%

-0.6 % (2016 )

$308,500 (27 )

$314,000 (28 )

$265,000 (24 )

$221,250 (14 )

$220,250 (18 )

40.1%

Riverdale

$301,950

$295,100

2.7%

$276,750

6.6%

$274,400

7.5%

$311,400

-5.2%

8.2 % (2014 )

$261,500 (2 )

$423,000 (5 )

$201,500 (8 )

$270,500 (6 )

$307,000 (5 )

-14.8%

Saint Leonards

$300,900

$298,100

2.5%

$257,450

15.8%

$249,100

19.7%

$270,200

10.3%

0.6 % (2016 )

$289,500 (17 )

$277,500 (20 )

$231,000 (22 )

$262,000 (18 )

$262,000 (15 )

10.5%

Tamatea

$340,400

$329,000

3.3%

$280,900

17.1%

$262,000

25.6%

$289,500

13.6%

23.1 % (2014 )

$318,500 (26 )

$314,500 (22 )

$294,000 (27 )

$265,000 (13 )

$275,000 (23 )

15.8%

Taradale

$431,400

$429,900

3.4%

$370,500

16.0%

$360,650

19.2%

$364,600

17.9%

24.8 % (2014 )

$393,750 (52 )

$381,500 (66 )

$377,250 (92 )

$324,000 (61 )

$337,000 (75 )

16.8%

Te Hapara

$226,350

$222,350

5.4%

$203,250

9.4%

$202,300

9.9%

$245,800

-9.5%

11.6 % (2014 )

$254,000 (23 )

$231,000 (9 )

$195,000 (23 )

$194,000 (23 )

$177,500 (28 )

43.1%

Waipukurau

$228,400

$227,700

2.1%

$201,050

13.3%

$195,700

16.4%

$228,200

-0.2%

14.1 % (2015 )

$211,500 (30 )

$209,000 (55 )

$192,500 (34 )

$179,000 (27 )

$180,250 (24 )

17.3%

Whataupoko

$346,450

$344,450

1.8%

$314,500

9.5%

$317,800

8.4%

$370,200

-7.0%

11.9 % (2014 )

$325,000 (21 )

$341,000 (13 )

$308,000 (23 )

$291,000 (18 )

$297,000 (20 )

9.4%

$300,550 $159,400

$297,350 $157,600

3.1% 2.0%

$265,900

10.8%

$136,500 (48 )

$125,000 (37 )

$211,000 (33 ) $122,000 (21 )

$225,500 (30 ) $133,000 (28 )

22.2%

-7.2%

$275,500 (41 ) $150,000 (58 )

$274,000 (59 )

$169,800

14.5 % (2014 ) 5.6 % (2014 )

$296,500 (42 )

$149,200

11.6% 5.6%

$268,300

$150,350

11.8% 4.8%

$266,450

Dannevirke Featherston

$217,800

$218,050

2.4%

$194,300

12.2%

$190,200

14.6%

$224,400

-2.8%

17.6 % (2014 )

$186,750 (24 )

$196,750 (32 )

$190,000 (18 )

$167,000 (18 )

$193,000 (14 )

-3.2%

Greytown

$434,700

$433,050

1.2%

$396,950

9.1%

$390,400

10.9%

$379,500

14.1%

13.2 % (2014 )

$386,000 (28 )

$400,500 (40 )

$351,500 (18 )

$349,000 (11 )

$369,000 (14 )

4.6%

Lansdowne

$273,300

$272,350

1.8%

$251,900

8.1%

$250,450

8.7%

$273,000

-0.2%

8.9 % (2014 )

$270,000 (37 )

$266,000 (39 )

$238,500 (26 )

$218,000 (20 )

$203,500 (20 )

32.7%

Martinborough

$380,250

$379,800

0.2%

$357,700

6.2%

$356,700

6.5%

$345,500

9.9%

8.2 % (2014 )

$329,000 (21 )

$334,000 (30 )

$326,000 (17 )

$309,000 (17 )

$266,000 (13 )

23.7%

Masterton

$244,750

$243,100

3.2%

$225,350

7.9%

$224,450

8.3%

$241,600

0.6%

8.0 % (2014 )

$245,000 (56 )

$220,000 (71 )

$221,000 (54 )

$213,000 (30 )

$187,000 (49 )

31.0%

Pahiatua

$174,700

$173,900

0.2%

$168,600

3.1%

$168,100

3.5%

$164,200

5.9%

2.7 % (2014 )

$131,000 (33 )

$154,000 (31 )

$131,500 (20 )

$133,000 (13 )

$160,500 (10 )

-18.4%

Solway

$262,600

$259,000

3.5%

$239,700

8.1%

$238,300

8.7%

$248,000

4.4%

12.0 % (2014 )

$254,000 (25 )

$238,375 (36 )

$218,000 (23 )

$230,000 (13 )

$215,000 (27 )

18.1%

TARANAKI/WANGANUI Aramoho Bell Block

$166,200

$167,700 $412,300

4.5% 2.1%

$145,900

14.9% 5.6%

$144,000 $373,050

16.5% 10.5%

$184,900

$390,500

$346,000

-9.3% 19.2%

4.5 % (2013 ) -0.7 % (2016 )

$145,000 (30 ) $401,000 (39 )

$169,000 (17 ) $421,000 (36 )

$150,000 (13 ) $373,500 (40 )

$145,000 (18 ) $361,000 (25 )

$154,000 (13 ) $344,000 (39 )

-5.8% 16.6%

TARARUA/WAIRARAPA Carterton

$414,150

12.8%

Castlecliff

$130,750

$128,400

2.8%

$111,750

14.9%

$113,950

12.7%

$152,800

-16.0%

-4.6 % (2013 )

$107,000 (31 )

$107,000 (38 )

$120,500 (24 )

$98,000 (21 )

$128,500 (16 )

-16.7%

Frankleigh Park

$412,200

$410,500

2.5%

$382,100

7.4%

$364,050

12.8%

$351,200

16.9%

-1.4 % (2016 )

$343,000 (22 )

$357,000 (21 )

$354,000 (17 )

$345,000 (15 )

$295,000 (22 )

16.3%

Gonville

$152,350

$151,950

4.4%

$137,200

10.8%

$133,050

14.2%

$172,100

-11.7%

3.1 % (2013 )

$150,000 (42 )

$151,000 (43 )

$133,500 (38 )

$125,000 (25 )

$157,000 (19 )

-4.5%

Hawera

$243,000

$242,250

0.8%

$237,150

2.2%

$224,650

7.8%

$240,700

0.6%

2.6 % (2015 )

$201,000 (72 )

$222,000 (79 )

$220,500 (74 )

$226,000 (53 )

$226,000 (54 )

-11.1%

Highlands Park

$542,750

$541,750

1.3%

$502,300

7.9%

$493,600

9.8%

$477,200

13.5%

-1.4 % (2016 )

$627,000 (6 )

$430,000 (11 )

$432,500 (16 )

$403,500 (8 )

$432,500 (16 )

45.0%

Inglewood

$314,750

$312,000

-0.1%

$288,850

8.0%

$283,400

10.1%

$267,300

16.7%

-0.6 % (2016 )

$259,000 (26 )

$272,000 (26 )

$263,000 (22 )

$263,000 (29 )

$237,000 (37 )

9.3%

Merrilands

$465,100

$463,800

1.4%

$426,500

8.7%

$417,450

11.1%

$394,800

17.5%

-1.8 % (2016 )

$387,000 (21 )

$387,000 (27 )

$432,000 (18 )

$363,500 (20 )

$377,000 (33 )

2.7%

New Plymouth

$488,700

$488,950

1.3%

$437,100

11.9%

$438,400

11.5%

$414,200

18.0%

0.3 % (2016 )

$388,500 (30 )

$419,500 (32 )

$403,500 (34 )

$357,500 (28 )

$341,000 (36 )

13.9%

Saint Johns Hill

$306,300

$303,050

0.5%

$274,400

10.4%

$272,950

11.0%

$312,600

-3.1%

2.4 % (2013 )

$312,500 (10 )

$289,000 (13 )

$260,000 (18 )

$207,000 (8 )

$249,500 (10 )

25.3%

Spotswood

$312,850

$312,000

-0.3%

$282,150

10.6%

$272,200

14.6%

$252,900

23.4%

-0.6 % (2016 )

$310,000 (15 )

$311,500 (24 )

$259,750 (16 )

$240,000 (20 )

$272,500 (20 )

13.8%

Springvale

$254,750

$253,600

1.2%

$225,900

12.3%

$227,000

11.7%

$263,700

-3.8%

7.0 % (2013 )

$226,500 (30 )

$251,000 (34 )

$212,000 (37 )

$215,000 (23 )

$233,000 (21 )

-2.8%

Strandon

$525,250

$524,500

-0.2%

$481,750

8.9%

$465,300

12.7%

$422,800

24.1%

-0.5 % (2016 )

$461,000 (14 )

$415,000 (18 )

$351,250 (20 )

$423,000 (18 )

$434,000 (12 )

6.2%

Stratford

$232,500

$229,650

1.6%

$216,700

6.0%

$208,800

10.0%

$214,100

7.3%

11.0 % (2014 )

$217,000 (49 )

$223,000 (46 )

$212,000 (37 )

$212,000 (18 )

$176,500 (26 )

22.9%

Tawhero

$218,400

$218,800

2.8%

$196,100

11.6%

$195,050

12.2%

$223,300

-2.0%

7.9 % (2013 )

$246,000 (15 )

$226,500 (20 )

$184,000 (13 )

$157,000 (9 )

$201,500 (14 )

22.1%

Vogeltown

$357,700

$354,550

2.0%

$327,900

8.1%

$319,500

11.0%

$300,100

18.1%

-1.5 % (2016 )

$345,000 (12 )

$389,000 (15 )

$345,000 (10 )

$325,000 (11 )

$283,000 (11 )

21.9%

Waitara

$258,700

$259,000

1.8%

$240,700

7.6%

$222,900

16.2%

$220,500

17.5%

0.9 % (2016 )

$260,000 (25 )

$245,000 (23 )

$249,000 (27 )

$214,000 (24 )

$211,000 (23 )

23.2%

Wanganui

$158,900

$158,000

4.1%

$140,300

12.6%

$137,100

15.2%

$179,800

-12.1%

5.9 % (2013 )

$136,500 (38 )

$138,750 (28 )

$119,000 (24 )

$150,000 (7 )

$154,000 (19 )

-11.4%

Wanganui East

$175,250

$175,300

1.1%

$157,400

11.4%

$154,500

13.5%

$182,300

-3.8%

5.0 % (2013 )

$179,000 (37 )

$167,000 (32 )

$180,000 (19 )

$165,000 (20 )

$162,000 (28 )

10.5%

Westown

$372,500

$372,150

2.5%

$335,700

10.9%

$325,000

14.5%

$314,400

18.4%

-3.1 % (2016 )

$338,000 (30 )

$337,000 (31 )

$306,000 (39 )

$324,000 (35 )

$300,000 (31 )

12.7%

Awapuni

$289,650 $316,050

$289,000 $316,600

4.5% 5.9%

$255,850 $279,350

13.0% 13.3%

$249,550 $275,300

15.8% 15.0%

$257,300 $282,200

12.3% 12.2%

11.2 % (2015 ) 14.4 % (2015 )

$271,000 (25 ) $328,000 (55 )

$227,000 (23 ) $320,500 (42 )

$252,000 (22 ) $290,000 (49 )

$224,000 (19 ) $301,500 (42 )

$244,000 (19 ) $286,000 (53 )

11.1% 14.7%

Feilding

$298,800

$297,300

2.9%

$267,800

11.0%

$261,600

13.6%

$275,100

8.1%

0.0 % (2016 )

$276,000 (113 )

$259,500 (100 )

$257,000 (110 )

$245,000 (93 )

$242,500 (88 )

13.8%

Fitzherbert

$514,050

$514,500

3.9%

$481,200

6.9%

$458,350

12.3%

$477,800

7.7%

7.1 % (2015 )

$523,500 (14 )

$482,000 (23 )

$461,500 (22 )

$449,000 (13 )

$439,000 (12 )

19.2%

Highbury

$264,700

$266,100

5.5%

$236,150

12.7%

$234,000

13.7%

$242,600

9.7%

17.0 % (2015 )

$272,000 (32 )

$245,000 (33 )

$244,000 (35 )

$218,000 (21 )

$237,500 (36 )

14.5%

Hokowhitu

$430,950

$431,150

2.9%

$397,250

8.5%

$381,500

13.0%

$398,100

8.3%

8.1 % (2015 )

$371,000 (44 )

$371,000 (56 )

$362,000 (60 )

$353,500 (46 )

$345,000 (59 )

7.5%

Kelvin Grove

$397,650

$396,700

4.2%

$353,800

12.1%

$335,250

18.3%

$336,500

17.9%

11.3 % (2015 )

$381,500 (42 )

$339,000 (53 )

$362,000 (51 )

$364,500 (36 )

$355,500 (58 )

7.3%

Marton

$169,300

$168,800

3.8%

$152,250

10.9%

$154,000

9.6%

$183,700

-8.1%

10.1 % (2014 )

$156,000 (45 )

$139,000 (52 )

$126,500 (30 )

$132,500 (28 )

$141,000 (29 )

10.6%

Milson

$322,250

$321,100

4.2%

$285,100

12.6%

$271,650

18.2%

$284,100

13.0%

11.1 % (2015 )

$290,000 (22 )

$277,000 (33 )

$289,000 (28 )

$281,000 (31 )

$241,000 (33 )

20.3%

RANGITIKEI/MANAWATU Ashhurst

Palmerston North

$326,250

$324,350

3.7%

$293,750

10.4%

$285,000

13.8%

$300,000

8.1%

14.1 % (2015 )

$326,000 (46 )

$296,000 (41 )

$297,000 (51 )

$273,000 (41 )

$280,500 (46 )

16.2%

Roslyn

$269,450

$267,900

4.3%

$237,100

13.0%

$230,550

16.2%

$241,200

11.1%

16.0 % (2015 )

$254,000 (46 )

$254,000 (37 )

$236,000 (37 )

$236,000 (19 )

$197,000 (27 )

28.9%

Smart property decisions start here


17

December 12, 2016 | PROPERTY REPORT

E-Valuer estimate of median value at

E-Valuer estimate of median value at

31OCT2016

30SEP2016

E-Valuer price change in 3 months to

E-Valuer estimate of

E-Valuer price

E-Valuer estimate of

E-Valuer price

median value at 30SEP2015

change in year to 30SEP2016

median value at 30SEP2014

change in 2 years to

30SEP2016

30SEP2016

E-Valuer estimate of E-Valuer price Sales price in 3 months to median value at change since 31AUG2016 in relation to CV market peak market peak (CV date in brackets) (31OCT2007)

Median price in 3 months to 31AUG2016

Median price in 3 months to 30JUN2016

Median price in 3 months to 30SEP2015

Median price in 3 months to 30SEP2014

Median price in 3 months to 30SEP2013

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(no. of sales in brackets)

(31OCT2007)

Median price change in 3 years to 30SEP2016

Takaro

$279,450

$279,150

4.2%

$244,600

14.1%

$238,200

17.2%

$251,400

11.0%

13.1 % (2015 )

$270,000 (43 )

$249,000 (43 )

$249,500 (24 )

$231,000 (29 )

$253,000 (35 )

6.7%

Terrace End

$330,600

$329,500

3.6%

$297,000

10.9%

$289,150

14.0%

$298,200

10.5%

12.3 % (2015 )

$331,000 (44 )

$321,500 (32 )

$304,000 (32 )

$298,500 (20 )

$251,000 (29 )

31.9%

West End

$310,900

$310,750

4.6%

$277,350

12.0%

$271,500

14.5%

$282,900

9.8%

14.5 % (2015 )

$268,000 (24 )

$280,000 (28 )

$280,500 (32 )

$234,000 (19 )

$232,500 (26 )

15.3%

$169,500 $248,550

$168,250

3.8%

-1.4%

$221,500 (28 )

$159,000 (33 ) $209,500 (32 )

$177,000 (16 ) $203,000 (21 )

$125,000 (13 ) $165,000 (15 )

$137,500 (24 ) $177,000 (13 )

19.3%

12.4%

5.1 % (2016 ) 0.5 % (2016 )

$164,000 (21 )

9.1%

$171,700 $250,400

-2.0%

2.1%

$143,150 $219,800

17.5%

$247,000

$149,350 $226,350

12.7%

Foxton Beach Levin

$240,700

$239,000

3.2%

$203,800

17.3%

$196,150

21.8%

$237,100

0.8%

-1.3 % (2016 )

$220,000 (160 )

$224,000 (193 )

$190,000 (147 )

$183,000 (75 )

$187,000 (92 )

17.6%

Otaki

$295,950

$295,100

4.6%

$257,850

14.4%

$249,300

18.4%

$262,000

12.6%

21.8 % (2014 )

$263,000 (31 )

$269,500 (34 )

$254,800 (41 )

$210,000 (31 )

$232,500 (22 )

13.1%

Otaki Beach

$307,850

$303,950

3.5%

$262,850

15.6%

$257,950

17.8%

$276,500

9.9%

20.1 % (2014 )

$324,000 (13 )

$251,250 (12 )

$215,500 (16 )

$226,250 (16 )

$275,250 (12 )

17.7%

HOROWHENUA/KAPITI Foxton

25.1%

Paraparaumu

$424,150

$418,750

4.7%

$359,300

16.5%

$350,100

19.6%

$355,900

17.7%

19.6 % (2014 )

$379,000 (59 )

$355,000 (62 )

$347,000 (68 )

$319,000 (46 )

$340,000 (41 )

11.5%

Paraparaumu Beach

$488,650

$482,350

3.3%

$419,000

15.1%

$408,800

18.0%

$409,400

17.8%

16.8 % (2014 )

$447,000 (61 )

$449,000 (71 )

$398,000 (64 )

$409,000 (55 )

$394,000 (69 )

13.5%

Raumati Beach

$487,450

$482,000

4.5%

$419,450

14.9%

$410,600

17.4%

$415,700

15.9%

23.5 % (2014 )

$460,000 (22 )

$414,484 (25 )

$425,000 (24 )

$390,000 (25 )

$369,000 (37 )

24.7%

Raumati South

$498,400

$489,750

4.0%

$432,450

13.3%

$418,600

17.0%

$414,900

18.0%

21.7 % (2014 )

$437,000 (21 )

$454,000 (25 )

$394,000 (21 )

$374,000 (19 )

$397,900 (18 )

9.8%

Waikanae

$475,700

$471,850

5.4%

$408,200

15.6%

$391,850

20.4%

$378,900

24.5%

24.8 % (2014 )

$417,000 (45 )

$408,000 (55 )

$367,500 (56 )

$374,500 (41 )

$334,000 (63 )

24.9%

Waikanae Beach

$516,700

$504,700

3.3%

$438,850

15.0%

$425,600

18.6%

$420,800

19.9%

19.0 % (2014 )

$497,000 (13 )

$501,775 (21 )

$417,000 (25 )

$397,500 (16 )

$347,000 (32 )

43.2%

2.2%

N/A

GREATER WELLINGTON PORIRUA Aotea

$718,800 $348,100

$719,150 $342,900

$609,800

21.1 % (2013 )

$299,000 (7 )

$603,250 (14 ) $295,000 (8 )

$264,000 (3 )

$551,000 (19 ) $286,500 (14 )

42.5%

$285,200

$785,250 (18 ) $325,000 (9 )

$590,000 (18 )

$277,400

N/A 20.2%

$677,000 (27 )

21.7%

17.9% 23.6%

14.7 % (2013 )

6.5%

$614,850 $281,800

17.0%

Ascot Park Cannons Creek

$265,050

$258,950

1.8%

$219,100

18.2%

$198,000

30.8%

$222,800

16.2%

20.6 % (2013 )

$254,000 (17 )

$245,000 (9 )

$243,250 (11 )

$178,500 (14 )

$211,000 (12 )

20.4%

13.4%

Papakowhai

$565,500

$560,950

6.5%

$468,050

19.8%

$458,300

22.4%

$463,400

21.1%

29.2 % (2013 )

$587,000 (11 )

$529,000 (13 )

$444,500 (8 )

$434,000 (9 )

$432,750 (10 )

35.6%

Paremata

$609,250

$606,500

5.0%

$519,800

16.7%

$511,900

18.5%

$512,500

18.3%

13.0 % (2013 )

$650,788 (10 )

$611,788 (16 )

$560,500 (14 )

$544,500 (10 )

$465,500 (12 )

39.8%

Plimmerton

$639,000

$631,300

3.8%

$538,650

17.2%

$547,850

15.2%

$560,800

12.6%

17.9 % (2013 )

$634,000 (5 )

$678,750 (12 )

$602,000 (7 )

$519,000 (9 )

$386,000 (2 )

64.2%

Ranui

$320,850

$318,950

4.1%

$268,650

18.7%

$256,400

24.4%

$265,900

20.0%

22.7 % (2013 )

$326,000 (9 )

$392,000 (11 )

$272,000 (12 )

$225,000 (13 )

$259,000 (7 )

25.9%

Titahi Bay

$398,850

$394,550

5.6%

$327,650

20.4%

$317,650

24.2%

$335,900

17.5%

17.1 % (2013 )

$355,000 (33 )

$355,000 (53 )

$312,000 (27 )

$285,000 (21 )

$304,000 (39 )

16.8%

Whitby

$598,850

$582,850

8.6%

$488,350

19.4%

$483,300

20.6%

$491,900

18.5%

22.8 % (2013 )

$547,500 (52 )

$552,000 (55 )

$487,000 (76 )

$469,250 (42 )

$434,000 (46 )

26.2%

UPPER HUTT Birchville

$387,400

$308,100 $298,350

25.3%

$300,650 $298,200

28.4% 23.7%

$311,700

0.2 % (2016 ) -5.1 % (2016 )

$338,500 (8 ) $362,200 (15 )

$297,000 (12 )

$323,000

23.8% 14.2%

$335,000 (13 )

$372,450

$385,950 $368,950

6.7%

Ebdentown

$392,250 (16 )

$318,000 (17 )

$261,000 (11 ) $287,250 (13 )

$277,000 (9 ) $301,000 (11 )

22.2% 20.3%

Elderslea

$404,200

$398,200

5.1%

$335,300

18.8%

$335,150

18.8%

$358,100

11.2%

0.5 % (2016 )

$404,000 (7 )

$385,000 (12 )

$314,500 (8 )

$334,000 (9 )

$334,000 (14 )

21.0%

Pinehaven

$449,900

$448,750

4.2%

$368,050

21.9%

$374,800

19.7%

$372,700

20.4%

-4.2 % (2016 )

$419,000 (7 )

$447,000 (9 )

$362,500 (17 )

$391,500 (12 )

$302,000 (7 )

38.7%

Silverstream

$494,150

$493,150

4.0%

$413,450

19.3%

$409,300

20.5%

$426,100

15.7%

-0.6 % (2016 )

$539,000 (15 )

$485,000 (21 )

$404,000 (25 )

$337,833 (10 )

$424,000 (17 )

27.1%

Totara Park

$381,850

$387,550

4.5%

$305,100

27.0%

$309,350

25.3%

$319,600

21.3%

-2.5 % (2016 )

$360,000 (13 )

$352,000 (19 )

$314,500 (14 )

$305,000 (11 )

$286,000 (20 )

25.9%

Trentham

$380,250

$376,400

4.1%

$305,350

23.3%

$302,350

24.5%

$315,400

19.3%

-0.4 % (2016 )

$385,000 (63 )

$370,000 (57 )

$301,000 (33 )

$294,000 (39 )

$285,750 (30 )

34.7%

Wallaceville

$364,250

$360,450

4.2%

$287,850

25.2%

$283,650

27.1%

$299,400

20.4%

0.1 % (2016 )

$286,000 (15 )

$368,418 (14 )

$334,500 (14 )

$296,000 (9 )

$317,000 (13 )

-9.8%

$456,550 $568,100

$454,700 $562,350

10.2% 3.9%

$370,000 $472,250

22.9% 19.1%

$351,900 $470,550

29.2% 19.5%

$366,200 $480,200

24.2% 17.1%

20.6 % (2016 ) 11.3 % (2016 )

$425,000 (24 ) $381,000 (5 )

$381,000 (25 ) $537,000 (17 )

$425,000 (15 ) $371,250 (12 )

$361,000 (19 ) $581,000 (7 )

$319,000 (19 ) $465,500 (12 )

33.2% -18.2%

Boulcott

$574,050

$569,750

6.7%

$477,050

19.4%

$468,050

21.7%

$468,100

21.7%

21.1 % (2016 )

$544,000 (19 )

$455,750 (14 )

$429,500 (12 )

$309,000 (11 )

$396,500 (16 )

37.2%

Eastbourne

$730,700

$723,700

1.2%

$656,850

10.2%

$658,100

10.0%

$695,300

4.1%

8.2 % (2016 )

$669,500 (16 )

$659,835 (22 )

$646,500 (20 )

$589,500 (16 )

$559,500 (17 )

19.7%

Epuni

$502,200

$500,200

7.1%

$411,100

21.7%

$404,350

23.7%

$409,800

22.1%

19.1 % (2016 )

$633,500 (17 )

$485,100 (14 )

$462,000 (13 )

$424,250 (2 )

$363,500 (4 )

74.3%

Kelson

$474,350

$467,000

5.1%

$383,100

21.9%

$378,800

23.3%

$372,200

25.5%

28.5 % (2016 )

$435,000 (13 )

$443,500 (14 )

$384,000 (17 )

$367,000 (12 )

$379,000 (16 )

14.8%

Maungaraki

$519,650

$515,900

5.1%

$415,500

24.2%

$414,450

24.5%

$410,100

25.8%

24.8 % (2016 )

$522,000 (11 )

$605,000 (23 )

$394,500 (14 )

$379,500 (13 )

$372,250 (12 )

40.2%

Naenae

$342,100

$337,900

8.5%

$260,850

29.5%

$262,250

28.8%

$283,300

19.3%

24.6 % (2016 )

$344,000 (45 )

$324,000 (36 )

$243,000 (46 )

$246,000 (26 )

$257,000 (31 )

33.9%

Normandale

$519,650

$515,900

5.0%

$425,550

21.2%

$421,650

22.4%

$408,400

26.3%

25.0 % (2016 )

$519,000 (5 )

$518,000 (8 )

$442,500 (10 )

$429,000 (3 )

$417,000 (7 )

24.5%

HUTT Avalon Belmont

3.1%

23.7%

Petone

$577,450

$573,450

6.8%

$445,900

28.6%

$435,300

31.7%

$432,400

32.6%

27.1 % (2016 )

$561,000 (35 )

$530,603 (32 )

$496,000 (25 )

$429,000 (28 )

$433,250 (34 )

29.5%

Stokes Valley

$349,750

$349,450

5.9%

$295,800

18.1%

$288,800

21.0%

$305,300

14.5%

18.8 % (2016 )

$334,000 (57 )

$319,500 (80 )

$306,500 (56 )

$278,000 (34 )

$278,500 (46 )

19.9%

Taita

$337,450

$334,100

6.2%

$261,950

27.5%

$254,700

31.2%

$264,000

26.6%

30.4 % (2016 )

$327,000 (20 )

$308,500 (30 )

$295,000 (27 )

$313,000 (18 )

$310,000 (29 )

5.5%

Wainuiomata

$294,200

$296,000

7.1%

$238,000

24.4%

$227,650

30.0%

$255,400

15.9%

24.4 % (2016 )

$291,000 (91 )

$267,000 (102 )

$235,000 (66 )

$230,000 (55 )

$230,000 (66 )

26.5%

Waiwhetu

$462,000

$459,350

7.9%

$373,500

23.0%

$364,700

26.0%

$352,300

30.4%

30.1 % (2016 )

$453,000 (16 )

$368,500 (22 )

$381,000 (21 )

$287,000 (18 )

$314,000 (25 )

44.3%

Waterloo

$556,350

$551,150

7.6%

$436,050

26.4%

$427,100

29.0%

$434,900

26.7%

29.9 % (2016 )

$544,500 (18 )

$524,000 (15 )

$489,000 (26 )

$484,000 (19 )

$399,000 (15 )

36.5%

WELLINGTON Aro Valley Berhampore

$621,100

$619,250 $540,350

3.6%

$460,500 $404,700

$549,000 (5 ) $439,000 (11 )

$559,500 (11 ) $556,891 (23 )

$572,500 (8 ) $447,500 (17 )

$382,000 (3 )

29.8%

34.5% 33.5%

26.4 % (2015 )

26.8%

$481,450 $416,300

28.6%

4.1%

$500,250 $426,100

23.8%

$555,000

$440,000 (6 ) $451,500 (9 )

24.8% -2.8%

22.2 % (2015 )

$454,875 (6 )

Brooklyn

$714,050

$714,350

4.4%

$575,850

24.1%

$565,550

26.3%

$538,400

32.7%

26.6 % (2015 )

$615,100 (18 )

$584,200 (31 )

$542,000 (23 )

$522,000 (21 )

$439,000 (13 )

40.1%

Churton Park

$673,800

$678,600

7.9%

$547,100

24.0%

$531,350

27.7%

$513,900

32.0%

25.0 % (2015 )

$683,000 (35 )

$622,000 (35 )

$612,000 (36 )

$582,000 (31 )

$527,000 (43 )

29.6%

Hataitai

$798,200

$791,350

3.6%

$648,650

22.0%

$633,600

24.9%

$597,500

32.4%

19.7 % (2015 )

$653,100 (15 )

$644,000 (27 )

$600,500 (16 )

$639,500 (14 )

$524,000 (17 )

24.6%

Island Bay

$756,850

$754,150

6.2%

$613,050

23.0%

$594,150

26.9%

$555,100

35.9%

18.8 % (2015 )

$698,250 (14 )

$618,000 (27 )

$592,000 (23 )

$557,000 (21 )

$494,000 (12 )

41.3%

Johnsonville

$537,050

$539,000

4.6%

$423,400

27.3%

$411,950

30.8%

$401,300

34.3%

26.1 % (2015 )

$547,000 (53 )

$511,000 (50 )

$417,000 (45 )

$424,000 (47 )

$424,250 (46 )

28.9%

Karori

$746,200

$743,900

4.9%

$591,300

25.8%

$590,600

26.0%

$552,200

34.7%

20.3 % (2015 )

$620,000 (48 )

$572,100 (75 )

$552,000 (59 )

$513,000 (58 )

$467,500 (58 )

32.6%

Kelburn

$1,055,650

$1,048,500

3.8%

$864,550

21.3%

$839,750

24.9%

$819,700

27.9%

9.3 % (2015 )

$623,500 (6 )

$948,750 (8 )

$852,000 (8 )

$657,000 (5 )

$752,000 (8 )

-17.1%

Khandallah

$848,800

$845,800

2.4%

$703,750

20.2%

$703,800

20.2%

$674,200

25.5%

18.7 % (2015 )

$845,000 (33 )

$783,500 (50 )

$673,000 (39 )

$650,000 (30 )

$621,000 (39 )

36.1%

Kilbirnie

$615,950

$605,650

4.0%

$476,700

27.1%

$456,800

32.6%

$435,900

38.9%

19.7 % (2015 )

$504,000 (9 )

$512,000 (11 )

$521,500 (4 )

$464,000 (9 )

$446,000 (9 )

13.0%

Lyall Bay

$636,750

$629,350

4.6%

$503,350

25.0%

$481,800

30.6%

$464,500

35.5%

19.9 % (2015 )

$644,500 (16 )

$633,500 (16 )

$516,000 (11 )

$591,000 (14 )

$472,000 (14 )

36.5%

Miramar

$690,350

$692,450

6.4%

$534,800

29.5%

$526,300

31.6%

$492,500

40.6%

25.3 % (2015 )

$697,000 (39 )

$615,500 (34 )

$508,000 (39 )

$522,000 (45 )

$469,750 (32 )

48.4%

Newlands

$497,450

$491,750

3.0%

$393,100

25.1%

$388,700

26.5%

$376,200

30.7%

22.5 % (2015 )

$467,000 (33 )

$444,000 (37 )

$434,000 (25 )

$397,000 (37 )

$405,150 (27 )

15.3%

Newtown

$650,050

$639,950

4.3%

$505,300

26.6%

$483,250

32.4%

$465,900

37.4%

18.3 % (2015 )

$537,000 (19 )

$621,300 (35 )

$472,000 (36 )

$449,000 (19 )

$469,000 (17 )

14.5%

Ngaio

$702,000

$701,200

4.0%

$565,000

24.1%

$555,650

26.2%

$528,000

32.8%

24.3 % (2015 )

$637,500 (22 )

$692,250 (22 )

$576,200 (25 )

$495,000 (15 )

$500,000 (23 )

27.5%

Northland

$747,650

$744,500

4.4%

$599,900

24.1%

$574,450

29.6%

$560,000

32.9%

21.9 % (2015 )

$682,000 (6 )

$623,500 (12 )

$553,000 (7 )

$544,000 (6 )

$477,000 (17 )

43.0%

Paparangi

$533,300

$529,700

4.1%

$423,200

25.2%

$413,300

28.2%

$396,500

33.6%

24.7 % (2015 )

$544,000 (13 )

$523,000 (13 )

$439,250 (16 )

$414,000 (11 )

$401,500 (18 )

35.5%

Seatoun

$1,195,350

$1,188,900

3.4%

$980,750

21.2%

$957,900

24.1%

$935,500

27.1%

11.7 % (2015 )

$806,250 (8 )

$886,000 (20 )

$752,000 (12 )

$761,000 (10 )

$860,500 (10 )

-6.3%

Strathmore Park

$661,300

$661,550

3.3%

$532,350

24.3%

$511,500

29.3%

$485,700

36.2%

11.5 % (2015 )

$526,000 (12 )

$571,788 (22 )

$539,000 (13 )

$584,000 (5 )

$492,000 (11 )

6.9%

Tawa

$518,650

$517,700

4.5%

$415,300

24.7%

$400,050

29.4%

$397,800

30.1%

20.5 % (2015 )

$472,775 (48 )

$478,250 (68 )

$396,000 (60 )

$380,500 (53 )

$397,100 (63 )

19.1%

Te Aro

$471,700

$471,250

4.9%

$398,450

18.3%

$396,800

18.8%

$420,100

12.2%

21.6 % (2015 )

$358,000 (56 )

$334,000 (61 )

$342,000 (63 )

$345,000 (37 )

$329,500 (32 )

8.6%

Wadestown

$916,300

$901,700

4.4%

$760,900

18.5%

$726,550

24.1%

$714,500

26.2%

24.5 % (2015 )

$715,500 (8 )

$781,250 (16 )

$646,150 (18 )

$884,000 (8 )

$745,500 (18 )

-4.0% -6.5%

Wellington Central

$373,150

$371,250

2.1%

$324,750

14.3%

$306,700

21.0%

$331,700

11.9%

12.1 % (2015 )

$259,000 (29 )

$404,000 (18 )

$262,000 (16 )

$322,000 (19 )

$277,000 (16 )

Wilton

$648,500

$645,750

4.0%

$510,800

26.4%

$493,000

31.0%

$479,200

34.8%

22.1 % (2015 )

$597,000 (11 )

$570,000 (13 )

$606,000 (8 )

$505,500 (8 )

$563,500 (7 )

5.9%

Woodridge

$586,550

$584,300

2.7%

$491,000

19.0%

$485,850

20.3%

$470,600

24.2%

8.5 % (2015 )

$613,500 (8 )

$442,000 (5 )

$548,500 (10 )

$546,000 (10 )

$517,500 (16 )

18.6%

Smart property decisions start here


18

December 12, 2016 | PROPERTY REPORT

SPOTLIGHT ON… ST MARYS BAY

One of St Marys Bay’s great assets is the lack of through traffic, making it a quiet, north-facing area.

PHOTOS / DOUG SHERRING, SUPPLIED

Bay is jewel in the crown One of the city’s oldest suburbs has undergone radical changes since Auckland’s early days, writes Graham Hepburn

S

t Marys Bay is a perfect example of the changing face of Auckland from Maori settlement through colonial times to modern city. As one of Auckland’s oldest suburbs it has undergone radical changes since Maori first had pa there for the same reason that the shoreline was attractive to European settlers — transport and proximity to what can be harvested from the sea. The land around St Marys Bay was farmed by settlers in the 1840s before Catholic Bishop Pompallier bought 19ha of land in the 1850s between Three Lamps and the coastline, and named it Mount St Mary. Over the following decades he established a church, schools and orphanage. One of his lasting legacies is St Marys College, these days a hugely popular girls’ school. As the church sold off more of its land, subdivision for residential development began to take place in the 1860s and in the 1870s when a farm was sold off. The early 1900s saw the construction of some of the suburb’s iconic buildings — the Ponsonby Fire Station (now home to Mary’s cafe), the Leys Institute (still functioning as a library) and the Ponsonby Post Office (recently refitted for new bistro Augustus on the ground floor). While the suburb has held on to a lot of its historic buildings, including its character villas, it was cut off from the shoreline when a motorway was put through to connect with the Auckland Harbour Bridge in the 1950s. Shipyards and slipways were closed, and Westhaven was under threat of being filled in until residents banded together to donate their services to create Westhaven Marina. In 2012, Jacob’s Ladder, which was used to connect the suburb with the shoreline down the cliffs, was revamped to connect with a footbridge over the motorway to provide a better connection with Westhaven.

These days, one of St Marys Bay’s great assets is the lack of through traffic, making it a quiet, north-facing area but with easy access to the hospitality and shopping scene along Ponsonby Rd and Jervois Rd. And it is only 3km from downtown Auckland. As Jack Atherton, of Barfoot & Thompson says: “St Marys Bay is considered to be the ‘jewel in the crown’ of the soughtafter northern slopes of the Herne Bay/Ponsonby area. “It’s a relatively small area of only about 280 houses and has some of the best views Auckland has to offer. Part of its appeal is possibly because it’s reminiscent of the villas and setting of the ones on the hills in San Francisco, and can either be looking back over the harbour bridge, Westhaven and/or the city.”

Bernadette Morrison, of Bayleys, says people value St Marys Bay for its central location, harbour views and historic character. “Being one of Auckland’s oldest and more exclusive residential areas, property in St Marys Bay is tightly held,” she says. “There are generally fewer numbers of sales compared to some of the neighbouring suburbs. “This can be attributed to not only the geographical size of the suburb but also, I believe, that once people are here they tend to stay. “Stunning colonial period architecture still stands throughout the community, from local landmark buildings to private residences . . . all adding to the turn of the last century charm.”


19

December 12, 2016 | PROPERTY REPORT

RECENT SALES

PROPERTY PRICES There have been sales in the past 12 months of smaller one- to two-bedroom units in the suburb for less than $1 million. An average property (a villa of three to five bedrooms on 300 to 500sq m) sells for between $2 million and $2.5 million. A top-end property of at least four bedrooms on a site larger than 400sq m sells for $4 million-plus. Bernadette Morrison, of Bayleys, says more than 40 per cent of all sales in the suburb were for more than $2 million in the 12 months to September, according to Real Estate Institute data. Jack Atherton, of Barfoot & Thompson, says: “This year alone there have been at least four house sales over the $4 million dollar mark as demand for luxury homes in St Marys Bay surges ahead.”

RENTS $4.3 million: 11 St Francis De Sales St.

Two-bedroom homes generally rent for around $600 a week but can hit $800 for better examples, while three-bedroom homes start around $900 and can reach $1200 a week for a luxury home. Larger homes can rent from $1200 and higher.

In February a modest four-bedroom home with stunning views at 11 St Francis De Sales St — one of the best streets in the suburb — sold for $4.3 million at auction.

SCHOOLS A three-bedroom villa on an elevated site with sea views at 2 Melford St changed hands for $2.41 million earlier this year.

Ponsonby Primary, Ponsonby Intermediate, Auckland Girls’ Grammar, Western Springs College, St Marys College.

BEST STREETS

$2.41 million: 2 Melford St.

St Francis de Sales St, Yarborough St, Cameron St.

A price in the mid-$2 millions was achieved for 28 Dunedin St, a five-bedroom property with secure double garaging.

LOCAL ATTRACTIONS Jacobs Ladder Originally built in the 1800s to provide access down the cliffs to the shoreline, this structure has been revamped to connect with a footbridge over the widened motorway and provides access to Westhaven Marina, a favourite spot to walk or run. Ponsonby and Jervois Rd strips The bars, restaurants, cafes and boutiques of these two lively strips are on the boundary of the suburb a short walk away, and an easy downhill stroll at the end of the night. Leys Institute An example of turn-of-the-century Edwardian baroque architecture, the 1905 Leys institute was established to serve as a free library and now, under Auckland Council stewardship, still serves that purpose with a focus on the area’s history.

Mid $2 millions: 28 Dunedin St.

Bayleys Selling St Marys Bay and surrounds Bayleys have long been a premier force in real estate in and around St Marys Bay. Our high profile residential agents have an exceptional track record. When you need the best advice possible, turn to the experts – Bayleys Ponsonby. Call us now.

Bernadette Morrison

Duncan Ritchie

Robyn Clark

Karen Spires

Trisha Vincent

Peter Tanner

Blair Haddow

Luke McCaw

Andrea Ritchie

Suzie Paine

HERNE BAY

PONSON NBY GREY LYNN

Simon Smith

George Passmore

Chris Batchelor

PT CHEV WESTMERE

Bernadette Morrison – Sales Manager, 305 Ponsonby Road, Ponsonby, Auckland B 09 375 8494 | D 09 375 8650 | M 021 345 520 | bernadette.morrison@bayleys.co.nz Bayleys Real Estate Ltd. Licensed under the REAA 2008.

Brad Roebuck

Lisa Smyth

Daryl Spense

ARCH HILL

Sally Ridge

Warren Fenning

David Downie

HERNE BAY

FREEMANS BAY ST MARYS BAY

www.bayleys.co.nz


20 December 12, 2016 | PROPERTY REPORT SPOTLIGHT ON... DEVONPORT

Village vibe in the city Devonport’s popularity as a day destination will grow as ferry terminal improvements are completed, writes Graham Hepburn

O

ne of the delights of living in Devonport is being able to take the short ferry ride to downtown Auckland. It’s especially convenient and pleasant when you compare it to the drama of travelling by road during peak hours with only one way in or out of the suburb. The ferry experience will only get better as the Devonport Wharf and surrounds are undergoing a multi-million dollar upgrade. The project, which includes retail outlets, a new boardwalk and an upgrade of Marine Square, is aimed at creating a better connection between Devonport's main street, the wharf, the beachfront, and other amenities such as the new library. Matthew Smith, of Ray White, says stage one of the wharf redevelopment is now complete with the opening of the already popular restaurant Devon on the Wharf, which has glorious harbour views and provides coffee on the go for commuters. He says: “Tenants are now being sought to be included in stage two. This is a major upgrade which will make Devonport more of a destination for day trippers whether they're Auckland-based or just visiting.” It will also make the suburb a more attractive proposition for house buyers. Smith says: “Devonport is still incredibly good value for money and you get a lot of bang for your buck compared to other elegant picturesque residential areas throughout Auckland. “For this reason we're creating more robust marketing campaigns that capture people looking to buy in other areas who hadn't considered Devonport and are delighted to learn what their money can buy.” Victoria Bidwell, of Bayleys, says Devonport is made up of different markets. She says that at Cheltenham you have people who want proximity to the beach while at Stanley Point the school is popular with young families who also like the bigger houses on bigger pieces of land and the sea views. Bidwell says it is hard to find anything in Cheltenham

Devonport is an attractive proposition for house buyers wanting a relaxed environment by the seaside.

under $2 million, with most places selling for between $2.75 million to $3.5 million. She says young couples looking to get into the area are buying two-bedroom units, and a decent example would cost around $850,000. One of Devonport’s icons is North Head, which was settled hundreds of years ago by Maori but wars accounted for the last significant population in the late 1700s. Europeans settlers arrived around 1840, and the suburb was initially called Flagstaff but was renamed Devonport after the English naval town when a base for the Royal New Zealand Navy was established. With its character villas and bungalows, Devonport is an

PHOTO / TED BAGHURST

established suburb that appeals to Kiwis and foreigners, especially European immigrants. The seaside suburb has beautiful beaches such as Cheltenham and volcanic cones such as North Head, an intriguing slice of history with its gun emplacements and tunnels as well as providing beautiful views of the Hauraki Gulf. There are two sailing clubs, an 18-hole golf course and the historic village and shops include a variety of restaurants, cafes, galleries and five-theatre cinema. Devonport’s appeal also lies in the fact that it is in the catchment for high-decile schools and has one of the lowest crime rates in the country.

Hello, we’re now open

Drop in sometime, we’d love to meet you in person and we’re here to help you make well informed decisions about property. We have the expertise, technology and market intelligence to make buying and selling a house the best experience it could possibly be for everyone concerned. A Welcome Gift for You - present this page when you engage Ray White Devonport to market your property and we’ll refund 100% of advertising costs upon a successful sale. Ray White Devonport I www.rwdevonport.co.nz 43 Victoria Road I Devonport I 09 445 9777 I devonport.nz@raywhite.com


21

December 12, 2016 | PROPERTY REPORT

RECENT SALES

PROPERTY PRICES

A charming character villa on 582sq m with four bedrooms (two on the living level plus two children’s bedrooms in the attic space) and a sunny aspect at 13 Mozeley Ave, sold for $1.725 million (CV $1.425 million).

Two-bedroom units start at $650,000 but good examples go for $850,000. A small villa in central Devonport away from the beach would sell for around $1.3 million if unrenovated but up to $1.8 million if refurbished. Top end properties near to the beach or with views sell for $3 million to $4 million. A Cheltenham Beach property where the home was virtually rebuilt sold for $8.7 million.

RENTS Two-bedroom homes typically rent for around $500 a week. Standard three-bedroom homes rent in the $650 to $750 range, while larger homes typically rent from $900 a week.

$1.725 million: 13 Mozeley Ave.

SCHOOLS

On a 539sq m corner site, a character home needing renovation at 39 Allenby Ave sold for $1.35 million (CV $1.125 million).

Devonport Primary, Stanley Bay School, Vauxhall Primary and St Leos, Belmont Intermediate, Takapuna Grammar.

Another villa needing renovation but in a great position at 1 Jubilee Ave changed hands for $2.3 million (CV $1.525 million). A Cheltenham Arts and Crafts bungalow with three bedrooms on 708sq m at 24 Tainui Rd sold for $2.625 million (CV $1.575 million).

BEST STREETS $1.35 million: 39 Allenby Ave.

Cheltenham Rd, Oxford Tce, King Edward Parade, Stanley Point Rd, Jubilee, First and Second Aves.

$2.3 million: 1 Jubilee Ave.

A four-bedroom villa at 37 Allenby Ave sold at auction for $2.3 million. A four-bedroom Arts & Crafts-style home on the waterfront at 110 Vauxhall Rd was sold by Ray White for $4.8 million.

LOCAL ATTRACTIONS Devonport village A popular spot for day-trippers, Devonport village has small shops, cafes, bars and restaurants. There are also pleasant walks along the beachfront. $2.625 million: 24 Tainui Rd.

PHOTOS / SUPPLIED

A three-bedroom, twobathroom character home — beautifully restored and renovated — on 367sq m at 35 Kiwi Rd sold for $1.82 million (CV $890,000). A four-bedroom renovated villa with swimming pool at 3 Waterview Rd changed hands for $1.92 million. $1.82 million: 35 Kiwi Rd.

North Head A volcanic cone that has been altered over the years by the forces of nature as well as humans, North Head offers panoramic views and an insight into New Zealand history. It was used for gun batteries to defend against invading ships, and has an extensive tunnel network. Torpedo Bay Navy Museum Established 40 years ago, the naval museum moved to its larger Torpedo Bay premises about six years ago so it could better display its fascinating collection of exhibits charting New Zealand’s naval history.

Why settle for anything less than a multi award winning agent? BAYLEYS TOP RESIDENTIAL AUCKLAND AGENT YEAR TO DATE 2016/17* AND TOP NORTH SHORE AGENT FOR 10 YEARS VICTORIA HAS COMPLETED OVER HALF A BILLION DOLLARS’ WORTH OF SALES ON THE SHORE

R FO

LE SA

Stanley Point Waterfront

R FO

D OL

S

bayleys.co.nz/1450787

LE SA

Cheltenham Bungalow

bayleys.co.nz/1450770

• International Property Awards London - Winner Best Property Marketing • Winner Bayleys National Waterfront Marketing Award • Winner Bayleys National Residential Marketing Award • Bayleys National Top Achiever 2006 - 2016 • Bayleys National Top 5% Residential Sales • Top Salesperson Bayleys North Shore 2006 - 2016 • Bayleys Takapuna Sales Person of the Year since 2005

Victoria Bidwell M 021 947 080 B 09 487 0735 victoria.bidwell@bayleys.co.nz www.victoriabidwell.bayleys.co.nz

D OL

S

*As at 31st October 16

Devonport Waterfront

bayleys.co.nz/1450748

Milford Beach

bayleys.co.nz

Bayleys Real Estate Ltd, Licensed under the REAA 2008

MULTI-AWARD WINNING RESIDENTIAL AND WATERFRONT SPECIALIST, ACHIEVING EXTRAORDINARY RESULTS IN ALL MARKETS!


22 December 12, 2016 | PROPERTY REPORT SPOTLIGHT ON… NEWMARKET

Hotspot for retail therapy Townhouses and apartments dominate Newmarket’s housing stock but some early homes remain, writes Graham Hepburn

N

ewmarket has long been one of Auckland’s hotspots for those seeking retail therapy – and that reputation will be further enhanced with major shopping developments planned for the suburb. The most significant will be the expansion and redevelopment of the Westfield Newmarket mall that will see more shops, cinemas, a gym, and more parking. A pedestrian overbridge will link the existing mall with the new development across the road. Further along Broadway, towards the Parnell end, The Warehouse Group plans to turn its existing site and adjacent ones it has acquired into a mixed use development with shops — including the Warehouse, Warehouse Stationery and Noel Leeming — as well as offices and apartment tower blocks. These developments, along with various apartment projects – some of them high end – and the redevelopment of the old Lion Breweries site into a University of Auckland campus, mean that Newmarket is on the up. The Nuffield St area, near the train station, has established itself as a trendy spot for bars, eateries and fashion retailers. Rachel Dovey, of Bayleys, says Newmarket is a central and practical suburb to live in, with its proximity to the city, the Auckland Domain, popular schools and good transport links. She says families enjoy easy access to a large number of quality local schools such as Auckland Grammar, Epsom Girls’ Grammar, St Cuthbert’s College, St Peter’s College and Diocesan School for Girls. As well as being close to the motorway, residents are well served by public transport. “The public transport is extremely efficient with the refurbished Newmarket train station and several bus routes easily accessed in the centre of the Newmarket shopping precinct,” Dovey says. The train takes less than 10 minutes to get into the Britomart station downtown, and the frequency of the service has been increased at peak times. Residents also have wide open spaces close at hand. “Those who live in the area enjoy access to some of Auckland’s finest green spaces, which include Mt Hobson, the Auckland Domain and the many walkways around Shore Rd. There are also a number of iconic sports facilities such as the Olympic pools and Remuera Rackets and the addition of Les Mills on Khyber Pass Rd.” During the 1980s, Newmarket was pretty shabby but it has reinvented itself as a fashion destination, a shopper’s paradise just minutes away from central Auckland. It offers a great mix of high street fashion, has a large mall, and designer boutiques tucked backed from the main street. Also within walking distance for residents are such events as the Anzac Dawn Parade, Christmas in the Park and other events hosted in the Auckland Domain. There is a range of real estate options with affordable apartments for first homeowners and at the other end of the

RAY WHITE NEWMARKET

Newmarket’s central location, transport links, shopping variety and the green spaces of Auckland Domain are all part of the suburb’s appeal.

spectrum penthouse apartments or a scattering of traditional family homes. Newmarket is a niche market of condensed housing and apartments, but it is also one of Auckland's older suburbs with housing built in the 1900s. Some villas and bungalows remain although townhouses and apartments now dominate the housing stock. The changing face of Newmarket can be seen in the tale of 14 Sarawia St, a dilapidated villa that Eden Thomson, of Ray White, sold almost three years ago. The owner had been living there for 71 years before selling to developers interested in purchasing the site because it was zoned for

PHOTOS / HERALD FILES

high-density terraced housing. The site now has six terraced houses with sea views about to hit the market. Newmarket has come a long way since the 1840s when the area was farmland along with other businesses such as breweries and hotels. The suburb derives its name from the new cattle markets that were established there in 1850. Later on, market gardens were established either side of Khyber Pass Rd. While many of the suburb’s historic buildings have long since gone, some remain such as the historic and charming homestead Highwic, on Gillies Ave, and the odd commercial building or hotel.

Servicing your real estate needs in the Newmarket & Grafton Area. Phone 09 631 1500

City Realty Limited Licensed (REAA 2008) | 136 Broadway, Newmarket | P 09 631 1500

www.rwnewmarket.co.nz


23

December 12, 2016 | PROPERTY REPORT

RECENT SALES

PROPERTY PRICES Eden Thomson, of Ray White, says a brick unit at 6/6 Sarawia St was under contract for $758,000, $78,000 over the asking price, on the first day it went on the market. “We had approximately 30 groups view it that day and ended up with seven multiple offers. It was like a frenzy. The location was key for this little rental investment, with the train station so close, along with Newmarket shops and facilities available.”

$758,000: 6/6 Sarawia St.

In the past three months, prices have ranged from $260,000 for a one-bedroom, 61sq m apartment to $1.585 million for a 177sq m apartment. The average sales price is $742,436 in the past six months. Rachel Dovey, of Bayleys, says the days to sell a property is currently around 29 days, low when reviewed against a lot of the larger central suburbs. The volume of sales was down by 42 per cent when compared to the previous year when there was a large number of new/completed apartment settlements. The median sale price has increased by 18 per cent over the past two years.

RENTS Two-bedroom apartments start around the mid$500s a week and go a lot higher for better examples. Three bedroom apartments normally sit in the $700 to $900 range, while larger apartments are harder to find, as are standalone homes to rent in the suburb.

SCHOOLS

Eden Thomson says apartments at Queens Square, 176 Broadway, have been “incredibly popular, this year in particular, with nearly 20 sales in 2016 alone”. Unit B301 sold for $670,000. Rachel Dovey, of Bayleys, says a penthouse apartment — three bedrooms and 170sq m — at 8A/27 George St sold for $2.03 million, the highest price in the suburb for the past 12 months.

Newmarket School, Auckland Normal Intermediate, St Peter’s College, Auckland Grammar and Epsom Girls' Grammar.

BEST STREETS George St, Broadway Park, Middleton Rd, Mamie St, Ada St. $670,000: B301/176 Broadway.

$2.03 million: 8A/27 George St.

Thomson also sold 3/11 Sarawia Street, a threebedroom, twobathroom, 185sq m townhouse for $925,000. A 61sq m, one-bedroom apartment at 505/31 Davis Cres sold for $260,000, while a twobedroom, 92sq m apartment at 2B/10 Laxon Tce went for $827,000. A price of $1.036 million was achieved for 611/26 Remuera Rd, a threebedroom apartment. $925,000: 3/11 Sarawia St.

LOCAL ATTRACTIONS Auckland Domain The Domain is the perfect place for walking, kicking a ball, feeding the ducks, enjoying a picnic or smelling the roses. It is also home to the Auckland War Memorial Museum and has some beautiful gardens (including the historic Wintergarden) and some woodland paths for walking or running. Shopping strip Newmarket is renowned for its main street fashion stores and there are also precincts with more boutique shops selling jewellery, fabrics, homewares and gift items. Eating out The dining scene is constantly improving with everything from ethnic eateries to trendy bistros. The area has a real cafe culture with some delicatessens thrown into the mix.

Bayleys are your local Newmarket residential specialists. Centrally located in the this lively and expanding hospitality and entertainment precinct. Our team are synonymous with quality homes and apartments, the best customer service, and crucially delivering of great results. Bayleys people make so much more possible. They collaborate and make their customers the centre of their world. Contact our local area specialists to ensure that your marketing campaign is a great success this summer.

Rachel Dovey – Regional General Manager Eastern Bay B +64 9 520 8888 | M +64 27 268 5550 | rachel.dovey@bayleys.co.nz Bayleys Real Estate Ltd. Licensed under the REAA 2008

www.bayleys.co.nz


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NZ Herald QV Property Report - December 2016