OneRoof Property Report - December 2019

Monday, December 2, 2019

PROPERTY REPORT

Ker-ching!

The top sales of 2019

House price index: Every suburb covered

Page 13

Page 15-23

SHOULD’VE BOUGHT IN

QUEENS

TOWN PROPERTY’S BIGGEST WINNERS AND LOSERS SINCE 2000 3-6

2

OneRoof Property Report

DATA CRUNCH

We’re still punching above our weight

Owen Vaughan Note from the editor

W

elcome to our final OneRoof Property Report of 2019, the last for the second decade of the millenium.

Here you'll find the latest property values for every suburb in New Zealand — and you can see how your suburb has fared over the past year.

For even more information on your corner of the country, head to oneroof.co.nz/news/property-report. To dig deeper, use our interactive map.

As the decade turns over, we wish we'd had a crystal ball in 2000 — or even 2010 — to predict just how much the market would change.

Twenty years ago, Google was a baby company, Facebook was four years away, and smart phones wouldn't appear for another seven.

In that time, our real estate market has had a major slump and a massive increase.

We’ve had devastating earthquakes, a leaky homes crisis, huge immigration, housing shortages, and rocketing house prices.

Now there are huge differences across the country as places like Auckland and Queenstown shoot away, some regions boom off the back of the big towns, and others languish.

Find out in our story how the market has changed in the past 20 years, the winners and the losers — and where we think the next hot spot will be.

We talk to industry experts about their predictions for the next year as we head into a general election with continued low interest rates and new home building picking up steam.

Start planning your next 20 years in the property market.

INSIDE

COVER STORY HIGHS AND LOWS MARKET UPDATE LATEST SUBURB VALUES COMMENT SUBURB FOCUS

3-5 6-7 13-14 15-23 25 28-31

Increasing exposure to global markets has resulted in NZ becoming a place to do business

James Wilson

T

he end of the calendar year is always a time for reflection. And as we head into 2020, what better time to look at not only the performance of the new housing market over the last year, but also over the last 20 years. How have bricks and mortar fared since 2000?

What is evident from crunching the numbers is New Zealand has substantially changed. At the start of the millennium, we were a country with affordable housing stock compared with other similar countries.

Now we're a country where house prices are more or less in line with the rest of the world (we're no longer the cheap option for international buyers).

In 2019, expect to pay more to live in the main cities, and less in the regions.

This change has mostly been fuelled by New Zealand’s increasing exposure to global markets and increased net migration. We've become a popular place to invest, bring business, buy houses and call home.

Put simply, we are a small country which over-performs.

This brings with it major economic benefits but also a series of downsides, most notably housing affordability and home ownership rates.

Conversations around

frameworks that support the housing market and seek to address those issues are well underway, and the initial focus areas are reassuring: a review of the Resource Management Act and the mechanisms impeding quick and efficient housing development; a focus on building healthier more sustainable housing stock; and a look into viable longer-term rental/rent-to-buy initiatives.

Narrowing the focus, 2019 has proven another active year for the housing market, although the big changes have been behind the scenes as opposed to within: the reset of Kiwibuild; the dumping of a proposed capital gains tax; the loss of tax breaks for investment properties; the increased focus on healthy homes legislation and standards; the results of the census and local authority elections; and, perhaps most important, further cuts to the Official Cash Rate.

The cumulative impact of all of the above has been to make buyers and homeowners more cautious. The drop in listing volumes, especially in Auckland, has skewed the market somewhat — first home buyers are taking advantage of low interest rates and less competition to snap up "affordable" homes, but there is only so many of those to go around in the main urban centres.

Meanwhile, homeowners in the million-dollar-plus category have been holding out for a pick-up in the market, and recent sales stats suggest Auckland is finally seeing that after two years of a slump.

Despite the above, we are still seeing strong housing

market results in smaller locations as investors and first home buyers alike compete for affordable stock. As predicted, rates of value growth have stalled somewhat in these locations, which is reassuring as the census results indicate that not all of these locations have had the population growth to sustain such rapid house price growth.

What will 2020 bring?

When we examine the performance of the housing market in 2019 we see a market which was soft at a nationwide level, fuelled by stalled value growth in Auckland and other main urban locations. However, unlike some predictions, value levels did not fall of the proverbial cliff; they simply slowed or flattened as much of the hype left the market.

The underlying fundamentals that underpin value growth are still balanced to support value levels, namely

$615,000

Current median house value for New Zealand

2%

Quarterly change

4.2% Annual change

$47 billion Total values of sales for NZ in last 12 months

-24%

Change in sale value year on year

strong demand fuelled by historically low interest rates, coupled with stable and strong net migration (circa 55,000).

Despite strong upward trends in new building consents, it is evident that the building sector and framework which supports it is still plagued by capacity constraints and unable to produce the volume of new builds required to balance the supply-demand equation The cumulative impact of the above should result in the status quo continuing into the first quarter of 2020.

However, homeowners who may have held off selling for fear of making a loss will likely realise that the worst hasn't happened and maybe it's time to re-enter the market. We are beginning to observe this, with investor numbers rising and first-home buying activity showing no signs of flagging.

Of course, the above market confidence may soften again as we approach the 2020 general election and participants again take a sideline approach to the housing market to see what pans out.

Overall, I am not as optimistic that we will see a big spike in house prices in the main cities, and it's likely house price growth in New Zealand's smaller urban centres will continue to soften.

A lot will ride on the election result and housing policies that will be proposed. However, based on historic housing market cycles, I expect that we won't see significant changes in the main centres until the latter half of 2020 and early 2021.

- James Wilson is director of valuation innovation at OneRoof data partner Valocity

Thinking of selling in 2020?

TOP 5% ALTOGETHER

OF BAYLEYS SALES PEOPLE 2018/2019 A LT O G E T H E R B E T T E R

We will help you get the best possible result making the process easy, painless and on your terms.

We don’t do average; We only do outstanding. Curious?

Contact us today.

Jock Kooger 021 321 856 jock.kooger@bayleys.co.nz | Bayleys Ponsonby BAYLEYS REAL ESTATE LTD, PONSONBY, LICENSED UNDER THE REA ACT 2008

Residential / Commercial / Rural / P roperty Services

OneRoof Property Report

3

PROPERTY REPORT OneRoof.co.nz | June 4, 2019

3

COVER STORY

THROUGH THE ROOF How the last two decades changed the path of New Zealand’s housing market. CATHERINE MASTERS reports.

I

n hindsight, it's easy to see where easy money could be made. At the start of the new Millennium, Queenstown was a popular tourist destination but was yet become a home to international billionaires, Hollywood directors and Silicon Valley escapees.

The median price for property in Queenstown at the end of 1999 was $195,000. In Auckland it was $235,000, a tad lower than the $236,000 Wellingtonians had to stump up

for a home. Flash forward to 2019 and that $195,000 investment in Queenstown — equivalent to the deposit many Auckland buyers face pulling together — has shot up 396 per cent, with Queenstown’s median price now $966,500. The city's property market is without doubt the biggest winner — so far — of the 21st Century.

The last 20 years in New Zealand real estate have been tumultuous. The country has

“The region that has seen the biggest percentage increase is Mackenzie.”

experienced a leaky homes scandal, a market slump, several devastating earthquakes and rocketing house prices that have benefited those that own but alienated those that don't.

OneRoof and its data partner Valocity tracked median prices for every New Zealand territorial authority over the last 20 years. The figures show how much the course of the country's property market has changed -—and indicate where the next boom towns are to be found.

Nationally, the median house price has risen 242 per cent since the end of 1999. Every region has enjoyed a lift. Some, like Queenstown, have done better than others.

According to the data, the region that has seen the biggest percentage increase is Mackenzie. Twenty years ago buyers in the region could pick up a home for $71,500. Now they'd typically have to shell out $435,000 —an increase of 508 per cent.

Mackenzie, home to Aoraki/ Mount Cook National Park and ski-fields that are every bit as stunning as those in neighbouring Queenstown Lakes, is OneRoof's pick for further big increases in property values.

It has all the elements to be the next Queenstown -—a solid economy, relative affordable housing and scope for largescale development.

Visitors to Lake Tekapo and Twizel will have seen a marked

4

OneRoof Property Report

COVER STORY increase in residential construction, and it doesn't take a much imagination to envisage a transformation on a par with Queenstown's and house prices to match.

OneRoof editor Owen Vaughan says: “Everybody is looking for the next Queenstown and Mackenzie could well be it. Although the area lacks an all-important airport, it is still well connected, with Christchurch just several hours' drive away. Those that buy into the area now could well be sitting on a million dollars or more by 2040.”

The OneRoof-Valocity data illustrates the big changes in New Zealand's major metros.

Valocity director of valuation and innovation James Wilson says: “Over the last 20 years the market has shifted from one of comparatively even values across the main urban centres to one where there are significant variations.”

At the start of the century, it cost as much to buy a house in Auckland as it did in Wellington — and prices tracked upwards at a similar rate until just before the GFC, when Auckland surged ahead.

Between 2009 and 2014, Wellington prices stagnated, while Auckland's rocketed.

Auckland's median house price now sits at $830,500 —an increase of 253 per cent on 1999 — while Wellington, which sits close to the bottom of the growth table, has a median house price of $750,000, a rise of 217 per cent.

Overseas money Further down the table is Christchurch, where the median house price grew 185 per cent in the last 20 years, while sitting at the bottom is Wairoa, in Hawke's Bay, which has seen house prices rise 128 per cent.

Wilson says: "In the year 2000, all of our main urban metros had median values that sat within a $200,000 band of each other. In 2019, the largest difference in median prices — between Queenstown and Dunedin — is well over half a million dollars.

"This disparate growth can mostly be attributed to the fact that our wealthiest urban markets — Auckland and Queenstown — have been exposed to international drivers, such as increased immigration and overseas money, more than any other

The one to watch

C

Tourist attraction: The Church of the Good Shepherd in Tekapo.

market in New Zealand."

A number of other factors have influenced the housing market over the last 20 years: the 2007 Global Financial Crisis saw house prices tumble and New Zealand’s official cash rate fall from 7.5 per cent in September 2008, to 3.5 per cent in early 2009.

Other factors include changes in immigration and home-ownership rules, the Christchurch and Kaikoura earthquakes, which damaged tens of thousands of homes, and the leaky homes crisis, which has cost the country billions of dollars. Through it all, New Zealand’s housing market has continued on an upwards trajectory.

If you bought and sold in the last 20 years it's highly likely you came out smiling, unless you’ve been stuck with a leaky home.

LeAnne and Jon Taylor are coasted the wave of falling prices after the GFC, then lucked in with not only the Auckland housing boom but the new Auckland Unitary Plan.

They bought and sold at the right time then left Auckland for Katikati, in the Bay of Plenty, where they own a home and have just bought a café.

Boom profits LeAnne says she and Jon are born-and-bred Aucklanders who met overseas then, like

Cashed in during the boom: Kirsty Cooper and husband Scott Mason

thousands of young couples, came back and stayed with mum and dad to save for their first home, a “bog-standard, three-bedroom, rectangle box” in Glen Eden, which they bought in 2004 for $215,000.

In 2007, the GFC struck and in 2008 New Zealand property prices fell sharply. So in 2009 LeAnne and Jon decided to keep their first house as a rental (selling later for $420,000) while buying another home in Glengarry Rd for $400,000.

The Glengarry Rd property had the 2000sq m they wanted for their three children and the animals. Life was peaceful — then along came the Unitary Plan which freed up land to be developed.

Suddenly, LeAnne says, they had construction right at their window.

They decided to move to Katikati, where LeAnne’s parents were living, and in 2015, at the height of the Auckland housing boom, listed their Glengarry Rd property. It sold within a week to a developer for $1.18m — nearly $800,000 more than they had paid.

Rate cuts Westpac’s chief economist Dominick Stephens says the main driver for such big price rises in New Zealand homes over the past 20 years is a global drop in interest rates, coupled with immigration.

Over 20 years ago the oneyear fixed mortgage rate in New Zealand was over 10 per cent, but now we are looking at under 4 per cent, he says.

“That’s more than halving what it costs to service a mortgage.”

Stephens says that at least from World War II through to the late 1980s, interest rates were on a slow rise — but they have been falling ever since.

“The New Zealand housing market has just been one of many asset markets affected by global drop in interest rates over the past 30 years. “ When interest rates fall people find it cheaper and

oralie Reid, an agent with OneAgency in Mackenzie, says the area has been undervalued for some time, but that is now changing.

“Economic factors are driving [an increase in property values]. We have aquaculture, fishing, tourism, hospitality, construction, Aoraki Mt Cook National Park, we now have an international dark sky reserve status too,” she says.

The biggest town in the district is Twizel, with about 1250 residents. It is surrounded by canals for the Upper Waitaki Hydroelectric Scheme which generates power for close to a million homes.

The canals run with the same turquoise waters as Lake Pukaki and are home to some

easier to borrow money and buy assets, and people with money are happy to accept a lower yield on investments.

“Both of those things mean higher prices relative to rents or relative to incomes, and I think this has driven asset prices of all stripes up around the world.”

The end result of the property market over the past 20 years has been a random reassignment of wealth from non-home owners to home owners, which “I think rightly has created lots of social concern”, Stephens says.

While hefty prices in Auckland have kept some out of

“The housing market has just been one of many asset markets affected by global drop in interest rates over the past 30 years. “ the property market altogether, others have moved to cheaper regions to get on the property market. Still others have made gains on their Auckland properties and have moved out to smaller towns.

David Norman, Auckland Council’s chief economist, says population growth is undeniably the fundamental driver in Auckland's housing market. “It’s no surprise that through our two periods of most rapid population growth in the last 20 years — early 2000s and most recently 2013 to 2016 — we saw the fastest growth in house prices.”

One of the ways the Auckland market differs from the rest of New Zealand is because of its dominant role in net international migration, Norman says.

“Unlike the rest of New Zealand, which saw negative net external migration between 2011 and 2013, Auckland did not. We are the gateway city for new migrants and typically attract more than half of them, even though we’re about 35 per cent of the total population of New Zealand.

“What we see is that as house prices in Auckland increased, many people here, often closer

of the best salmon and trout fishing in the country.

Neighbouring Lake Tekapo is also a fast-emerging tourism destination. So is Fairlie, the closest town to the Mt Dobson ski area which lures seasonal workers.

Tourism and short-term accommodation come hand in hand and it’s mainly what is driving the property market, says Reid.

“People are buying houses for short-term accommodation and our district plan allows it.”

She says the district as it has a caring community. “It’s a natural beauty of the area and a Kiwi dream of having a crib surrounded by lakes and mountains. Everyone looks after each other quite well and it’s the town that reminds people of their childhood.”

to retirement, have taken their house price gains and moved mostly to other parts of [the country] where house prices are more affordable.”

Easier lifestyle Among those who cashed in and moved out is Kirsty Cooper, who bought a threebedroom state house in Auckland’s Avondale with a friend in 2011 for just over $400,000 .

They stayed there for a couple of years, before deciding they could make more money by renting out the house and renting themselves. Then in 2015, when prices were strong, Kirsty’s friend bought her out.

“I came out of it with almost an extra $100,000. That’s not bad at all. Some people don’t earn that much working.”

Kirsty and her now husband Scott set their eyes on Dunedin.

They couldn’t believe the prices: “We were looking at places that would have been a million dollars in Grey Lynn that were $250,000 at the time.”

Once they moved to Dunedin they “went a bit ridiculous. We ended up buying a big old brick villa on 1600sq m of land. It cost $436,000. They later decided it was too big and sold it for more than $600,000. Now they’ve bought a cottage in Opoho for $500,000.

Kirsty says: “Our lifestyle is definitely better down here than we would have been able to have up in Auckland.”

If the last 20 years have been tumultuous, Stephens says the next 20 are unlikely to be anywhere near as dramatic.

What happens in the years ahead will depend on interest rates, he says. If they go up house prices could fall, but if they stay where they are prices could rise some more.

He thinks interest rates will stay relatively low, however, and predicts they will lift again in five or ten years’ time – so there could be a period of modest house price decline in the mid-2020s.

OneRoof Property Report

5

1999 to 2019: Ranking the house price jumps The graphic below shows the growth in median house prices in New Zealand between 1999 and 2019. The 24 territorial authorities highlighted are ranked according to percentage growth, with Mackenzie at the top seeing the biggest price leap and Wairoa at the bottom seeing the smallest. The number at the bottom left corner in each box is the 1999 median house price while number in the the top right corner is the 2019 price. Go to OneRoof.co.nz/PropertyReport to see more regions.

MACKENZIE $435k

508%

QUEENSTOWN $967k

396%

PORIRUA

HASTINGS

$651k

320%

NEW PLYMOUTH

LOWER HUTT

$440k

288%

NELSON

WHANGANUI

$553k

256% $155k

PALMERSTON NORTH

WELLINGTON

$237k

290% $151k

NAPIER

GISBORNE

$520k

271%

$370k

270% $100k

AUCKLAND

WHANGAREI

$831k

253%

$502k

246% $145k

TAURANGA

HAMILTON

ROTORUA

$660k

243%

$570k

235%

CHRISTCHURCH

$423k

202% $140k

$439k

185% $154k

$449k

225% $138k

$170k

FAR NORTH

$750k

217%

$590k

$235k

$193k

$125k

KAPITI COAST

$80k

$430k

244%

302%

$285k

256%

338%

$563k

$140k

$150k

$114k

UPPER HUTT

$565k

277%

$285k

$65k

$140k

$120k

$155k

352%

$495k

313%

INVERCARGILL

$438k

$97k

$195k

$72k

DUNEDIN

WAIROA $155k

128% $68k

6

OneRoof Property Report

THE REAL ESTATE ROLLERCOASTER

Highs and lows of a market From the leaky homes crisis and GFC to the surge in property values and rise of mum and dad investors, ASHLEY CHURCH looks back at 20 event-packed years.

T

wenty years ago I was living in Palmerston North, working in an industry unrelated to property, living in a house I had bought for $159,000 the year before, and using a mobile phone for which the only real purpose was making phone calls. In every respect, my life today is completely different, and just as we were all different people 20 years ago, the property market was also different — and its highs and lows are the result of the things which happened along the way. Some of those could have been predicted. Others couldn’t.

But how do you rank those highs and lows? For me, the property market is a metaphor for how we’ve done for ourselves, at least in a financial sense – so I’ve chosen the events of the past 20 years, based on how much they have impacted on the back pocket or purse of the largest number of Kiwis.

THE LOWS Government intervention in the property market If we know anything about the New Zealand property market over the past four decades, it’s that it generally defies attempts at Government interference and does what it’s going to do, regardless. Despite this, both Labour and National have continued to interfere in the market over the past 20 years, introducing measures such as the Brightline Test on October 1, 2015, the foreign buyer ban on October 22, 2018, and the ringfencing of tax losses from April 1 this year. While the motivations behind these measures varied, none have achieved the purposes for which they were intended and, ultimately, they have just ended up costing Kiwis money for no real benefit.

The fall of Blue Chip Investments In February 2008, Blue Chip Investments, a structured property investment company, collapsed under the strain of debt due to a scheme that relied on the price of property going up every year with no contingency for when the market flattened or dropped. Around 2000 shareholders on both sides of the Tasman — some of whom lost their homes as a result of investing in the scheme — were left out of pocket to the tune of around $250m. Blue Chip’s high-profile director, Mark Bryers, was subsequently bankrupted and the company’s name has become a metaphor for dodgy property dealings.

The collapse of 67 finance companies Yes, you read that number correctly. Between May 2006 and the end of 2012 there were 67 finance company collapses in New Zealand. Not all of these companies operated in the mortgage market, but those which did tended to focus on the higher risk business which the major banks stayed away from. The most high-profile collapses among these were those of South Canterbury Finance, Hanover Finance and Bridgecorp Holdings, At the height of their expansion, these and other finance companies held assets of about $25 billion. Subsequent reports blamed lack of oversight and proper financial management for the collapses and the whole fiasco led to sweeping legislative and regulatory changes.

The global financial crisis By the time US investment bank Lehman Brothers collapsed in September 2008 — kicking off the Global Financial Crisis — New Zealand was already in recession, so the effects of the GFC were less dramatic here than they were in other parts of the world. That said, house prices still dropped by 8.6 per cent from their peak over the following couple of years, before picking up again in 2011 as the nation headed into yet another property price boom cycle.

The leaky homes crisis While the leaky homes scandal is mostly associated with the early years of the new millennium, it actually had its genesis in the years following the introduction of the 1991 Building Act. This short-sighted piece of legislation relaxed controls on residential building, allowing the framing of homes to be constructed from untreated timber (which often rotted) and the use of fibre cement sheets for cladding, which were not watertight. This led to a very large number of the homes built between 1994 and 2004 having weather-tightness problems or being unhealthy to live in due to moulds and spores developing within the damp timber framing. In 2009, the repairs and replacement costs associated with the crisis were estimated to be about $11.3 billion. Around 34 pr cent of this was borne by Government and councils, with homeowners bearing the brunt of the remainder of the cost.

Loan to Value Ratio restrictions On October 1, 2013, the Reserve Bank of New Zealand introduced restrictions on mortgage ‘loan-to-value ratios’ (LVR), which prohibits banks from lending to home buyers with less than a 20 per cent deposit (with a small number of exceptions) and investors with less than a 30 per cent deposit. The Reserve Bank claimed the measures were necessary to slow the rate of house price inflation — an objective which they spectacularly failed to achieve. House prices continued climbing for another three years in Auckland — only flattening at the point of the cycle at which they would be expected to do so — and are still climbing in other parts of the country, giving the lie to the myth that the LVR restrictions slowed the market. Despite this, the Reserve Bank has persevered with this experiment and, in doing so, has closed tens of thousands of first home buyers out of the property market. In my opinion, the negative impact of the LVRs, particularly on first home buyers, makes it one of the most profoundly stupid economic and housing policy blunders of the past 40 years. The Reserve Bank have deprived many young people of an opportunity to develop household wealth — and the impact will continue to be felt for decades.

About 10,000 houses were demolished and 100,000 damaged in the 2011 Christchurch earthquake.

The Christchurch and Kaikoura earthquakes Earthquakes aren’t new to New Zealand — but their deadly power has certainly been a significant feature of our national psyche. I rank two of them, in particular, as having the most impact on the property market of any event over the past 20 years. The first struck Christchurch

OneRoof Property Report

7

that never failed to surprise

A typical scene during the housing boom in Auckland: potential buyers flock to an on-site auction at Hobsonville Pt, a development on what was Whenuapai air force land.

at 12.51pm on February 22, 2011, causing widespread damage and killing 185 people. In its aftermath an estimated 10,000 homes required demolition and over 100,000 were damaged. Estimates of the cost of the rebuild of the city — which is ongoing — sit at around $40 billion with claims that it will take 50 years. The second quake, on November 14, 2016, was centred in Kaikoura but caused extensive damage to property in Wellington and Nelson. The impact of these two quakes is ongoing, not just in respect of the loss of lives and cost of claims but also in the impact that they have had on construction standards, on how insurance premiums will be levied, and on our national perception of our own mortality.

THE HIGHS Private sector housing construction Despite the failure of Kiwibuild, census and building stats tell us that we’ve more than kept pace with the need to build new dwellings. Between 1986 and 2013 we built 565,000 new dwellings — and we built a further 290,000 between 2013 and 2017. These numbers are in stark contrast to the regular warnings about a shortage of homes. While it’s still too soon to say there isn’t a housing shortage after all, it’s certainly starting to look that way.

The internet and the digital economy It may seem strange to include the internet and the digital economy in a list of the property market highs, but their inclusion is well deserved. As recently as the late 1990s towns and cities throughout New Zealand were struggling with the threat of depopulation and the loss of traditional industries. But that all changed as internet speeds got faster and the technology it carries became more sophisticated. Ultra-fast broadband, high-definition streaming, and a vast array of software and apps means the tyranny of distance once strangling provincial New Zealand has largely evaporated. This has flowed into strong capital growth in house values throughout many parts.

The dominance of first home buyers In the ‘lows’ column I’ve given a pretty strong serve to the Reserve Bank for its short-sighted LVR restrictions. Yet we now know that first home buyers were still the single largest group of house buyers everywhere except Auckland and in every year between 2013 and 2018. Whether they’ve achieved this through hard graft, the ‘bank of mum and dad’ or

86.7%

Value of New Zealand’s mortgage market in 2018 as expressed by percentage of GDP

51.4%

Mortgage market’s share of GDP in 1998

33%

Number of Kiwi homes that are mortgagefree

59,189

Net migration in the year to December 2001

67,386

Net migration in the year to August 2019

some other strategy, I don’t know. I’m just pleased that they’re still in the market, despite the huge obstacle put in their way.

Mum and dad investors Those who seek to remove property investors from the market need to be careful what they wish for. These people are the true heroes of the property sector, providing around 440,000 of the roughly 525,000 rental properties in New Zealand and saving the taxpayer billions — every rental provided privately is one less needed to be provided by the taxpayer. It’s a testament to their vision and fortitude that they continue to be active in the market, despite being demonised by advocacy groups and politicians.

Strong immigration growth New Zealand has transformed from a country which lost more people than it gained in any given year, to an immigration hotspot and a magnet for people with education, money and a desire to make a new life in our south pacific paradise. Our net population grew by almost 175,000 between 2016 and 2018, and while annual numbers have come back from their peak in 2016, they’re still high by historic standards.

Low, low, low mortgage interest rates Most economists believe the upward trend in house prices since the mid 1980s is largely due to a steady reduction in mortgage interest rates. While I don’t completely buy into this view — primarily because our housing market periodically goes off the boil even when interest rates are low — I have no doubt it’s a contributing factor. In January 2000, the average twoyear fixed mortgage interest rate was 8.4 per cent. In October 2019, that same two-year rate was 4.4 per cent, with some banks even offering rates under 4 per cent. As a result we’ve been in a benign mortgage environment for almost 20 years —and right now the proportion of household income spent on servicing a mortgage is about the same as it was in 1976.

The market The undoubted star of New Zealand property scene over the past 20 years, has been the market itself. Despite a barrage of extreme (and mostly nonsensical) claims from both sides of the political spectrum — and repeated warnings of an imminent market collapse, which never comes — the market ticks on, increasing in value by between 70 and 100 per cent every decade and increasing the wealth of millions of Kiwis.

8

OneRoof Property Report

ANALYSIS

Bindi Norwell

W

hen looking forward, it always pays to understand the road where you’ve come from, and a quick look back over the last year shows us that a lot has happened that is likely to shape the property market in the coming 12 to 18 months.

Low interest rates After the Reserve Bank dropped the Official Cash Rate (OCR) by 50 basis points in August, most of the major retail banks followed suit and lowered their mortgage rates and offered cash incentives for switching banks.

The cut has certainly provided some stimulus for the property market and was particularly good news for first time buyers as it meant that mortgage payments became more “affordable”.

For those already in the market, with a floating or variable mortgage, the cuts presented an opportunity to pay off the mortgage at a slightly quicker rate than previously – that is assuming people don’t decrease their mortgage payments. For families looking to upgrade their property it means that the step up to the next property is likely to be more affordable or

Growing confidence in the housing market will bring value lifts With the warmer weather, so too usually comes an uplift in property prices.

that they might even be able to afford a slightly larger home than initially anticipated for their budget.

With employment and inflation levels within acceptable ranges it’s not entirely surprising that the Reserve Bank has held the OCR at its current level. Many economists are predicting that there will be an additional drop in the first half of 2020 which could provide further stimulus.

Consumer confidence lifting The latest ASB Housing Confidence survey has shown signs of an uplift. All three confidence measures the bank looks at showed respondents are feeling more positive about housing relative to the situation three months ago.

This confidence is starting to show through in terms of house prices, with increases in median house prices across the country.

The national median house price rose 8.2 percent from $561,500 in October 2018 to $607,500 in October 2019. At the larger end of this scale, house prices in Gisborne have increased by 37.1 percent yearon-year from $310,000 to $425,000 and Southland has seen growth of 23.5 percent

year-on-year from $255,000 to $315,000. Even Auckland saw the highest median price in October for 19 months, reaching $868,000.

Lending – mixed picture The easing of LVR lending restrictions at the start of 2019 resulted in increased lending across the board. First time buyers appear to be entering the market with fewer problems lending for this group in the first nine months of 2019 was 12.2 percent up on the same period the year before.

Lending to investors fell 16.4 percent over the same time period, and with all the regulatory changes facing investors there’s an argument that some easing of LVRs could encourage them to re-enter the market.

The Reserve Bank has decided to keep the current restrictions in place but REINZ has always argued that LVRs should be loosened for first time buyers as saving a 20 percent deposit can be very difficult. In Auckland this can be around $172,200; for buyers outside of Auckland, it’s around $121,500.

The current levels of lending outside the limit allows for up to 20 percent of borrowers to

receive more than the 80 percent LVR, which seems to be supporting an increasing number of borrowers (up 35.7 percent for the year to September 19 compared to the year to September 18). On the flip side, banks have been tightening up their lending criteria which has made it more difficult for some people to get access to finance.

Building consents up Building consents are up 14 percent for the nine months to September 2019 when compared to the nine months to September 2018, across the country. These building consents are showing a higher proportion of apartment consents, representing 18.3% of all dwelling consents in September 2019, compared to just 8.4 percent of all consents in September 2018.

This increase in building consents will contribute to a higher number of available properties and continued activity in the market. The increased level of apartments will likely mean more options for first home buyers and a continued move away from the traditional quarter-acre dream.

The number of new building

consents in Auckland is now matching new demand, however, there is still a significant back log in terms of housing supply. Additionally, new models of building such as pre-fabrication and modular homes are helping to speed up the building process which is helping the overall picture.

Whilst many regions are considered “affordable” when compared to Auckland prices, there will continue to be pressure placed on house prices from outside influences such as people moving from larger cities to smaller areas, investment from the provincial growth fund, increased economic activity and wage growth pressure.

Economists are forecasting house price inflation will accelerate by between 5 percent and 7 percent in 2020. With the recent uplift in property prices and the underlying fundamentals looking as if they will continue in the short to medium term, it’s likely that we will continue to see the housing market continue on an upwards trajectory. As a country, we need to build more homes to meet demand and help improve affordability.

- Bindi Norwell is REINZ CEO

OneRoof Property Report

Sell Real Estate Ltd 282 Pt Chevalier Road, Point Chevalier

Pristinebungalowbeauty A welcoming and beautifully presented bungalow with perfect sun aspect.

Great floorplan and set on a generous 637m2 with the best lawns in town.

Positioned within walking distance to Pt Chev School, cafes and the beach.

Four spacious bedrooms; high stud living extension opening to vast decking.

Includes a landscaped garden with studio for home office or teen retreat.

VIEW PRICE CONTACT WEBSITE

By Appointment Only $ By Negotiation Make an Offer

4

2

1

Jo,Derek,Ross,Xenia&Lawrence-0800SELLING

www.sellrealestate.nz/PTC00435

89 Walker Road, Point Chevalier 4

2

2

Effortlessluxurylifestyle Set Date of Sale 11th December 2019 at 5pm - All offers presented.

Two premium luxury homes in a boutique high calibre development by the beach.

Each residence has been designed with exquisite contemporary living in mind.

Both houses offer four double bedrooms and a sunny northwest facing aspect.

Beautifully appointed supremely modern kitchen flows to entertaining deck.

VIEW PRICE CONTACT WEBSITE

By Appointment Only Set date of sale 11th December 2019 at 5pm Jo, Derek, Ross, Xenia & Lawrence - 0800 SELLING www.sellrealestate.nz/PTC00437

GET THE PROFESSIONAL ADVANTAGE As the top Professionals NZ team award winners and with more than $1b in sales, we achieve incredible results. But more importantly, we always put you first.

SALES TEAM 2015

2017

2019

Supporting the Child Cancer Foundation for over 20 years.

NEW ZEALAND 2013

2014

2015

2017

2018

2019

| TEAM@SELLREALESTATE.NZ | WWW.SELLREALESTATE.NZ Sell Real Estate Ltd Licensed REAA 2008

9

10

OneRoof Property Report

Elevated views, luxury & lifestyle in Herne Bay Jervois & Lawrence luxury apartments will take your breath away...

Offering beautifully finished interiors, high quality fittings and stunning views across Auckland and beyond - this landmark property is the result of entrusting a team of the finest developers and designers with a magnificent, elevated Herne Bay location.

2 bedroom apartment

from $1.27m

3 bedroom apartment

from $2.70m

4 bedroom apartment

from $3.73m

Showroom 218 Jervois Road, Ponsonby, Auckland Wednesday to Sunday 11:30am to 1:30pm or by private appointment

Peter Tanner

Will Green

BAYLEYS REAL ESTATE, PONSONBY, LICENSED UNDER THE REA ACT 2008

BAYLEYS REAL ESTATE, PONSONBY, LICENSED UNDER THE REA ACT 2008

+64 21 379 379 peter.tanner@bayleys.co.nz

jervoisandlawrence.co.nz

+64 21 685 856 will.green@bayleys.co.nz

OneRoof Property Report

G N !

I !

L LS T E S FA

THE TIME TO BUY IS NOW! Auckland market rebound is here!!

Astute buyers act now!!!

Buy at today’s low price and completion - end 2020 Lowest ever mortgage rates DON’T MISS OUT The Pacifica - The tallest residential tower in New Zealand upon completion.

Astute

buyers

Landmark

building

are

quickly

before

the

buying market

apartments increases

in once

this again.

Located adjacent to Britomart, walking distance to Commercial Bay and many of Auckland’s best restaurants, entertainment and shopping.

This is your counter cyclical investment move.

Luxury freehold apartment priced from $823,000!!!

Call to book a viewing today

0800 20 20 40 thepacifica.co.nz

CBRE (AGENCY) LTD, LICENSED REAL ESTATE AGENT (REAA2008)

11

12

OneRoof Property Report

THE INDUSTRY VIEW

New energy in the market Real estate leaders on what buyers and sellers should expect in the coming months.

Mike Bayley Bayleys Corporation MD The log-jam in the Auckland market that had been building since around May, fuelled by buyer demand and a dearth of vendors bringing their properties to market, looks to have cleared, with more housing stock being advertised for sale.

That cyclicality now sits on top of a very stable long-term domestic economic situation encompassing steady, albeit unspectacular, domestic economic growth; low levels of unemployment and the enduring sub-two per cent official cash rate keeping mortgage interest rates at low, low levels.

Legislative changes such as the new Residential Tenancies Act, the foreign buyer ban and the loss of tax breaks for rental properties, have all been absorbed into general real estate psyche.

Wage growth has rebalanced the home affordability equation for many, and for rental increases have raised yields to levels more palatable to the investment sector. Again, these factors pertain to a lifting in sales activity.

All of these indicators and drivers in the residential

property market, combined with the warmer/drier weather, are pointing toward greater levels of trading over the coming four to five months in what, apart from a few years during the 2012-2017 era, has been the traditional busy selling period for residential real estate.

While listing numbers and sales volumes are picked to continue to rise over the shortterm, do not expect too much movement on pricing levels, albeit that they will be most likely lifting at a very gentle rate. Expect a more composed type of market behaviour this summer.

Josephine Kinsella LJ Hooker & Harveys MD Following an unusually slow start to spring, the supply of residential properties for sale has experienced a resurgence in most regions.

South Auckland enjoyed busy months in terms of property sales and strong auctions results while listing volumes were strong in the Eastern Beaches. In West Auckland there was a noticeable resurgence for properties under $850,000.

There is lots of energy in the first home buyer market, with

Barry Thom and Grant Lynch UP directors Record low interest rates, the onset of summer, and positive media re the state of the market may have together sparked something of a revival. Buyers are back out in force. We can report a different mood and competitive bidding at most auctions.

The basic question is “will it last?” Next year is election year and that can often cause things to go into wait and see mode. Our sense, however, is that there is a general catch up in play.

Since 2015, until recent months, sales numbers have been falling. The foreign buyer ban was definitely part of this, as was a shift in the attitude from banks generally to what and how they might fund purchasers.

Given the strength of immigration over the period and falling interest rates, we feel the lower sales volumes were driven by negative sentiment. This is changing.

We note several economists predicting an increase in house prices over the next year or three. We agree.

First home buyers are back in force, swapping rent for home ownership thanks to today’s record low interest rate mortgages. This is quickly firming the market around $1,000,000, translating into a trickle-up effect.

As a buyer, if you were waiting for the bottom of the market you may have missed it. Similarly for home owners waiting for a good time to go to the market – this is it!

“affordable” housing in demand.

Prices in Northland have stabilised but listings are down, and while the residential market in Waikato is steady, the rural market has seen dramatic change and there is minimal appetite from banks to take on the risk. However, properties that are well postioned are moving.

Dunedin and Otago are once again showing strength.

Auction clearance rates there are high as is demand for investment properties. Areas like Oamaru, where rentals are in short supply, are offering eight per cent returns.

Lending activity to owneroccupiers continues to rise, driven predominantly by larger average loan sizes rather than more loans. With summer truly upon us, the short-term forecast is stability in the market and an increase in listing volumes.

The forecast for 2020 is positive - there are no immediate signs of dramatic change in the regions and Auckland is likely to bounce back ever so slightly. The biggest challenge will be the market’s response to lack of supply.

Peter Thompson Barfoot & Thompson MD The Auckland residential real estate market in 2020 will build on the positive signs that are being experienced in the fourth

”The market has finally overcome lingering concerns about a possible major price decline, and more people are accepting that current market activity is the new norm and the time is right to make decisions about their future housing needs.” quarter of this year.

Sales numbers grew as we emerged from the winter months, new listings were extremely strong and average and median prices showed modest increases. This has set the scene for a good start to the 2020 selling season.

The market has finally overcome lingering concerns about a possible major price decline, and more people are accepting that current market activity is the new norm and the time is right to make decisions about their future housing needs.

The key to maintaining market momentum in the first quarter of the new year will be the number of new listings reaching the market, coming from a combination of new builds and existing owners making the decision to trade up, downsize or relocate. Low mortgage interest rates and solid employment numbers are adding to the feeling of stability around property decision making.

Later in 2020 the normal winter slowdown followed by the “let’s wait” attitude a scheduled General Election invariably creates will tone down market prices should they start to rise too rapidly.

We may well see a return of investors to the market, who might look to realise funds from other assets to reinvesting in property.

Carey Smith Ray White CEO The market is starting to show the value of the changes in the official cash interest rates, which has meant for many a potential change or upcoming change in their re-negotiated mortgage rates. If there is a further reduction in the OCR, this will signal increased affordability and allow more first home buyers to consider entering the market.

While banks continue to review their retail rates, 2020 will see lending remain tight as potential interest rates continue to drop. This will make homepurchasing more affordable and it could also invariably push up prices if listings remain at a continued lower level.

The changes brought about by the Healthy Homes Act will help investors maintain yield and provide for higher occupancy rates. In the area of property management, regulation will settle down in 2020.

Rents will continue to increase slightly, and vacancy rates will remain low over the coming year.

So, we see the overall market in 2020 being positive. There will be an increasing number of first home buyers and investors entering the market on the back of more affordable home loans.

While property listings will remain competitive, we see this adding to potential price increases across New Zealand.

OneRoof Property Report

13

MARKET WATCH AUCKLAND

Out of the doldrums Auckland’s bounce back after several years of decline has begun in earnest as first home buyers solidify their position as the biggest buying group in the city.

W

hilst the overall the median value for Auckland is, at $885,000, down 1.1 percent on last year, there has been a slight uptick in the city's housing market over the last three months. Growth has been strongest in Manukau - up 1.2 percent over the quarter - but Rodney is still lagging, down 0.5 percent.

The bounce back appears to be a return to more traditional seasonal conditions in Auckland, with the current spring surge in line with activity before the house price

boom at the start of the decade.

Supporting value growth have been the cuts to interest rates (and hints of more to come), a shortage of listings and strong buying activity within certain markets and locations, most notably those suburbs that have a high percentage of homes within first home buyer budgets, which in Auckland has stretched now to between $800,000 and $1 million.

First home buyers are still the biggest buying group in Auckland, representing 28.2 percent of new mortgage registrations in the last quarter.

Investors account for 14.56 percent of the current Auckland market, and although that figure is well below the levels seen during the boom, they have increased their share in the last quarter. Movers continue to represent a significantly smaller section of the market, accounting for only 9.21 percent of registrations.

Higher priced parts of the city have endured the biggest value drops year on year, with the likes of Ponsonby, Westmere, Glendowie, Takapuna and Long Bay all feeling the squeeze. Kumeu is

Higher priced parts of the city have endured the biggest value drops year on year, with the likes of Ponsonby, Westmere and Glendowie all feeling the squeeze.

Auckland's biggest faller, dropping 30.4 percent year on year to $1.11m, although the flurry of new residential developments in the suburb is as much to blame for bringing down the median value as the current challenges in the lifestyle market. The suburbs that have dropped out of the million-dollar club include Albany, Browns Bay, Onetangi, Piha and Three Kings.

Auckland's biggest riser is Omaha, up 16.9 percent year on year to $1.62m, which goes to show not every high value suburb is under pressure.

Omaha's reputation as a beach retreat for wealthy Aucklanders and limited stock have fuelled demand and boosted prices.

Moving house may be off the cards for some, but buying a bach remains a desirable option.

Overall, it would appear that Auckland has returned to more traditional market conditions, with a surge of activity occurring post winter and into the warmer months. Whilst this has not yet correlated into major value increases, with demand levels picking up, a slow uplift in value levels is likely over the next quarter.

Total dollar value of sales (last 12 months)

Photo / Doug Sherring. Herald graphic

$17,690,879,616

FIRST HOME BUYERS Share of new mortgage registrations in the last 3 months

28.2% HEAT IS ON

Where property prices Median Annual are rising value change 1 2 3 4 5 6 7 8 9 10

The biggest house sales of 2019

$1,625,000 +16.9% Omaha Grafton $475,000 +4.4% Waimauku $1,200,000 +4.3% Warkworth $845,000 +3.0% Helensville $810,000 +2.5% $665,000 +2.3% Mangere $900,000 +2.3% Red Beach Auckland Cen. $460,000 +2.2% Mangere Bridge $945,000 +2.2% Snells Beach $750,000 +2.0% 27 Hanene Street, Saint Heliers

$10,500,000

$12,000,000

20 Omaha Block Access Road, Leigh

$10,200,000

14 Aumoe Avenue, Saint Heliers

Where property prices are dropping Kumeu Westmere Long Bay Farm Cove Glendowie Ponsonby Castor Bay Oneroa Mairangi Bay Takapuna

$1,110,000 –30.4% $1,600,000 –10.4% $1,420,000 –9.6% $1,210,000 –9.2% $1,520,000 –8.4% $1,610,000 –8.0% $1,437,500 –7.6% $1,135,000 –7.3% $1,420,000 –7.2% $1,265,000 –7.2%

Auckland City $965,000 Franklin $695,000 Manukau $825,000 North Shore $1,035,000 Papakura $690,000 $930,000 Rodney Waitakere $785,000

Annual change

4% 0% 0% 4.2% 0.7% 2.2% 1.9%

RICH-LISTERS

Auckland’s most expensive suburbs 1 2 3 4 5

COOLING OFF 1 2 3 4 5 6 7 8 9 10

How much you can expect to Median pay in... value

Herne Bay Whitford Coatesville St Marys Bay Redvale

$2,432,500 $2,427,500 $2,360,000 $2,205,000 $1,850,000

+0% N/A –9% +3% –2%

BARGAIN-HUNTERS Auckland’s most affordable suburbs

$9,500,000

9 Bourne Street, Mount Eden

1 2 3 4 5

Auckland Cen. Grafton Orere Point Manukau Wiri

$460,000 $475,000 $495,000 $500,000 $540,000

+2% +4% +12% +2% –4%

14

OneRoof Property Report

Growth for some, slowdown for others Hamilton Hamilton's housing market remains relatively buoyant, with the city's median value up 0.9 percent over the last three months and 5.6 percent to $570,000. Unlike Auckland, the city hasn't suffered a slowdown, but sales volumes are currently tracking 30 percent behind those of 2018.

Some parts of the city are better than others, with Hamilton Central, Silverdale and Whitiora seeing a 10 percent or more lift in median values year on year.

Tauranga The median value of all housing in Tauranga is up 4.7 percent year on year to $670,000, but growth has slowed somewhat in the last three months, with values up just 0.7 percent.

Sales volumes are down significantly compared to the same period last year, but the

good news is that investors are returning to the fray after sitting on the sidelines for the last two years.

Tauranga’s top performing suburbs are Gate Pa, Maungatapu, Parkvale, Poike, Tauriko and Welcome Bay - all up between 6 and 8 percent over the last 12 months. With the exception of Tauriko, the appeal of these suburbs lies in their relatively affordable price points - all have median values below $650,000 (Tauriko's median value is $1.33 million), attracting first home buyers and investors alike.

Wellington Price growth in the capital appears to have stabilised, with the median value of all housing in the city currently sitting at $770,000, a rise of 5.5 percent on last year but more or less unchanged since

the third quarter of the year.

This may be the result of a dip in purchases by first home buyers - the dominant buyer group in the city.

Regardless, affordable housing is driving much of the growth in the city, with the biggest leaps in median values in Grenada North, Newlands, Paparangi, Tawa and Te Aro. All enjoyed value growth of more than 10 percent year on year and all have median values of below $700,000.

Christchurch After a lengthy period of little to no growth, Christchurch's housing market

buyers, who represent 29.49 percent of new mortgage registrations.

saw a slight increase in value levels over the past quarter of 1.1 percent, bringing the city's median value to $445,000.

This rise appears to have been fuelled by an uptick in buying activity by investors, who appear to be targeting new builds, which are more affordable in Christchurch than in other main centres.

With the majority of sales transacting between $400,000 and $500,000, the city remains popular among first home

Dunedin remains the strongest performer among New Zealand's major cities.

Dunedin Dunedin remains the strongest performer among New Zealand's major cities. Annual house price inflation is currently 16.9 percent, (and quarterly growth is 2.3 percent), making Dunedin the only main housing market experiencing double-digit value growth.

The median value for all residential properties in the city is $450,000, which is why the city continues to appeal to first home buyers, who currently represent 28.18 percent of new mortgage registrations.

However, as observed last Property Report, first home buyer activity is slowing, which suggests property prices are beginning to exceed the budgets of most first home buyers.

Queenstown House price growth in Queenstown has stalled, with

the median value of all properties in the city up just 1.3 percent to $987,500. This stalling is considered the net result of continued declines in market activity in the area.

Residential sales volumes fell 15.4 percent between 2017 and 2018, and have continued to slide in 2019, with current sales volumes over the last 12 months down more than 40 percent.

Much of the “blame� for the drop in Queenstown's housing market can be attributed to the overseas buyer ban, which has cut off a key group of buyers that helped push up values over the last two decades.

Multi-homeowners - those purchasing a second property are the only group who have increased their share of new mortgage registrations in the city compared to the same period last year. They represent 14.61 percent of new mortgage registrations, whilst registrations to investors and first home buyers continues to decline - not surprising given the lack of affordable housing.

OneRoof Property Report

15

LATEST SUBURB VALUES

Is your suburb rising or falling?

19

GISBORNE, HAWKES BAY

19

GREATER WELLINGTON

20

NELSON, TASMAN, MARLBOR OUGH

21

WEST COAST

21

CANTERBURY

21

SOUTHLAND

22

OTAGO

23

UR SUB

UPPER NORTH ISLAND / NORTHLAND FAR NORTH AHIPARA AWANUI CABLE BAY COOPERS BEACH HARURU HEREKINO HOREKE HOUHORA KAEO KAIKOHE KAINGAROA KAITAIA KARIKARI PENINSULA KAWAKAWA KERIKERI KERIKERI SURROUNDS MANGONUI MOEREWA OHAEAWAI OKAIHAU OMAPERE OPONONI OPUA PAIHIA PAKARAKA PERIA PUKENUI RAWENE RUSSELL RUSSELL SURROUNDS TAIPA WAIMATE NORTH

$370,000 $320,000 $495,000 $620,000 $570,000 $175,000 $280,000 $395,000 $390,000 $190,000 $337,500 $240,000 $445,000 $305,000 $680,000 $750,000 $485,000 $130,000 $655,000 $565,000 $410,000 $350,000 $615,000 $545,000 $645,000 $250,000 $397,500 $302,500 $732,500 $575,000 $440,000 $805,000

N/A N/A 9% N/A 8% N/A N/A N/A N/A 6% N/A -6% -7% -3% -1% -3% N/A N/A 3% N/A N/A N/A N/A 10% N/A N/A N/A N/A N/A N/A N/A N/A

4% N/A 0% 17% 11% N/A N/A N/A N/A 15% -8% 12% 2% 30% 3% -1% N/A N/A 20% N/A 11% 4% -3% 22% 8% N/A N/A 4% 1% N/A 24% 8%

15 19 42 24 26 3 N/A 6 25 67 7 167 32 34 253 37 36 16 7 11 7 14 18 46 3 7 15 9 25 20 9 6

$1,045,000 $570,000 $1,250,000 $1,040,000 $885,000 $270,000 N/A $480,000 $1,880,000 $566,000 $630,000 $635,000 $865,000 $683,261 $2,800,000 $1,175,000 $1,200,000 $450,000 $1,315,000 $850,000 $430,000 $700,000 $1,451,000 $1,550,000 $640,000 $465,000 $750,000 $530,000 $3,950,000 $6,000,000 $745,000 $685,000

KAIPARA DARGAVILLE DARGAVILLE SURROUNDS KAIWAKA MANGAWHAI MANGAWHAI HEADS MATAKOHE MAUNGATUROTO PAPAROA POUTO RUAWAI TE KOPURU TINOPAI WHAKAPIRAU

$325,000 $415,000 $635,000 $810,000 $777,500 $680,000 $455,000 $650,000 $265,000 $265,000 $190,000 $395,000 $585,000

2% -7% 0% -4% -2% N/A 2% N/A -2% N/A N/A N/A N/A

5% -4% N/A 7% 5% N/A 7% N/A N/A 28% -12% 9% 14%

108 45 39 83 93 4 30 15 5 13 15 11 5

$817,000 $1,000,000 $1,200,000 $3,000,000 $3,398,000 $680,000 $1,080,000 $730,000 $539,000 $375,000 $575,000 $630,000 $880,000

WHANGAREI AVENUES GLENBERVIE HIKURANGI HORAHORA HUKERENUI&SURROUNDS

$410,000 $845,000 $380,000 $462,500 $695,000

-2% N/A -4% -3% N/A

4% 17% 17% 5% N/A

31 14 36 25 8

$605,000 $1,750,000 $665,500 $738,000 $620,000

KAMO KAURI KENSINGTON KIRIPAKA KOKOPU LANGS BEACH MANGAPAI & SURROUNDS MATAPOURI MATARAU MAUNGAKARAMEA MAUNGATAPERE MAUNU MORNINGSIDE NGUNGURU ONE TREE POINT ONERAHI OTAIKA OTANGAREI PAKOTAI PARAHAKI PARUA BAY POROTI PORTLAND RAUMANGA REGENT RIVERSIDE RUAKAKA RUATANGATA TAMATERAU TIKIPUNGA TUTUKAKA WAIPU WHAKAPARA WHANANAKI WHANGAREI HEADS WHAREORA WHAU VALLEY WOODHILL

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

MANAWATU, WH ANGANUI

12 % C-MON HA TH NG E

19

which to buy.

For each suburb, the tables also show for the 12 months the total number of sales and the biggest single sale. Together, they give a comprehensive picture of the property market in your own suburb – and the rest of the country.

QU % CARTER HA NG E

18

TARANAKI

$525,000 $845,000 $465,000 $665,000 $730,000 $1,515,000 $610,000 $905,000 $780,000 $587,500 $785,000 $700,000 $415,000 $767,500 $720,000 $460,000 $615,000 $230,000 $360,000 $520,000 $765,000 $737,500 $405,000 $355,000 $470,000 $540,000 $615,000 $705,000 $785,000 $430,000 $820,000 $770,000 $615,000 $885,000 $722,500 $740,000 $455,000 $445,000

3% 10% 2% N/A N/A N/A 4% N/A N/A N/A N/A 3% -2% 2% 2% -2% N/A N/A N/A 0% 1% N/A N/A 1% -5% N/A -2% N/A N/A 2% N/A 8% N/A N/A -2% N/A 1% 1%

9% 13% 7% 37% 4% 5% 3% 3% 10% 14% 6% 6% 1% 24% 4% 3% 16% 2% 3% 14% 8% 8% 7% 11% 2% 17% 7% 15% 18% 8% -4% 7% N/A 6% 8% 8% 7% 9%

254 21 118 6 3 11 24 9 8 15 29 86 47 35 54 142 12 20 2 30 32 8 5 98 34 12 58 19 13 137 16 56 12 4 22 10 48 42

$1,165,000 $985,000 $1,010,000 $1,350,000 $1,035,000 $2,275,000 $795,000 $1,400,000 $988,000 $895,000 $1,850,000 $1,400,000 $633,000 $1,040,000 $1,540,000 $1,600,000 $910,000 $530,000 $602,000 $920,000 $2,110,000 $800,000 $690,000 $700,000 $1,200,000 $980,000 $1,450,000 $1,150,000 $1,410,000 $740,000 $1,690,000 $1,925,000 $800,000 $1,225,000 $2,000,000 $1,100,000 $818,000 $835,000

$465,000 $805,000 $925,000 $615,000 $970,000 $1,695,000 $1,135,000 $940,000 $1,545,000 $490,000 $1,305,000 $1,390,000 $2,305,000

4% 1% 0% 4% -1% -1% 0% 0% -5% 10% -1% -3% 1%

6% -3% 0% 2% -6% -1% -4% -3% -7% -1% -1% -7% -8%

952 261 143 90 143 219 96 125 119 139 86 193 61

$4,850,000 $1,500,000 $1,768,000 $2,050,000 $1,972,000 $5,850,000 $4,925,000 $1,900,000 $9,000,000 $2,400,000 $6,100,000 $3,525,000 $12,200,000

LAT MEEST $ VDIAN ALU E

BAY OF P LENTY

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

17

12 % C-MON HA TH NG E

15

WAIKATO

QU % CARTER HA NG E

AUCKLAND

LAT MEEST $ VDIAN ALU E

15

B

NOR THLAND

expect to pay for a property in that suburb. The tables also track how well a suburb is performing, showing the changes in value over the last quarter and the last 12 months. These figures are a good indication of demand for property in the suburb and whether it is a good place in

B

● Hold your phone camera over the code to find out more information about your suburb and how it compares to the rest of New Zealand.

What the tables tell you The tables show the latest median value for every suburb in New Zealand, arranged by region from north to south (towns and districts within those regions are shown in alphabetical order). The median value gives an indication of what buyers could typically

UR

The model is intended to provide an estimate of value at the date it was run.

SUB

T

he OneRoof Property Report suburb valuation tables, powered by Valocity, use an automated valuation model (AVM) to provide the latest values for every suburb in New Zealand.

The AVM takes into account recorded property attributes and historical market property sales data to estimate the value of every residential property in a suburb.

GREATER AUCKLAND AUCKLAND — CITY AUCKLAND CENTRAL AVONDALE BLOCKHOUSE BAY EDEN TERRACE ELLERSLIE EPSOM FREEMANS BAY GLEN INNES GLENDOWIE GRAFTON GREENLANE GREY LYNN HERNE BAY

$1,225,000 $580,000 $1,115,000 $760,000 $960,000 $945,000 $1,115,000 $695,000 $1,145,000 $1,045,000 $870,000 $767,500 $660,000 $1,315,000 $1,090,000 $1,360,000 $1,430,000 $1,230,000 $630,000

N/A N/A N/A -2% N/A N/A N/A N/A N/A N/A 1% N/A 1% N/A N/A N/A N/A N/A -2%

-9% 4% -16% -1% N/A -8% -22% 7% -14% N/A -3% -2% 0% 4% N/A -2% N/A -17% 1%

10 9 31 50 31 20 16 15 7 11 40 12 531 8 8 13 N/A 18 236

$1,550,000 $1,190,000 $1,870,000 $2,925,000 $3,400,000 $1,860,000 $2,600,000 $990,000 $1,980,000 $1,600,000 $2,275,000 $850,000 $1,660,000 $2,100,000 $1,390,000 $2,300,000 N/A $2,025,000 $1,680,000

SUB AUCKLAND — MANUKAU ALFRISTON BEACHLANDS BUCKLANDS BEACH CLENDON PARK CLEVEDON CLOVER PARK COCKLE BAY DANNEMORA EAST TAMAKI EAST TAMAKI HEIGHTS EASTERN BEACH FARM COVE FAVONA FLAT BUSH GOLFLANDS GOODWOOD HEIGHTS HALF MOON BAY HIGHLAND PARK HOWICK HUNTINGTON PARK KAWAKAWA BAY MANGERE MANGERE BRIDGE MANGERE EAST MANUKAU MANUREWA MELLONS BAY

$737,500 $1,165,000 $1,170,000 $540,000 $1,350,000 $640,000 $1,160,000 $1,335,000 $960,000 $1,225,000 $1,380,000 $1,205,000 $675,000 $1,070,000 $1,040,000 $820,000 $1,100,000 $920,000 $915,000 $1,035,000 $860,000 $650,000 $945,000 $630,000 $500,000 $620,000 $1,440,000

3% 1% -2% 0% N/A 1% -2% -4% 1% -2% N/A -4% 1% -1% -1% -5% -4% -2% -2% N/A N/A -2% 3% -2% -2% 1% -5%

N/A 2% -3% 2% 0% 1% -5% -6% 3% 3% -10% -10% -1% 0% -5% -2% -4% -2% -4% -0% 7% 2% 2% -3% 0% -2% -6%

13 181 127 112 13 59 103 29 106 50 15 43 55 508 35 52 73 114 177 8 17 145 108 171 43 775 40

$1,021,000 $2,500,000 $3,550,000 $940,000 $1,650,000 $1,050,000 $4,500,000 $2,700,000 $1,430,000 $2,930,000 $3,000,000 $3,900,000 $1,595,000 $3,800,000 $1,625,000 $1,300,000 $2,410,000 $1,900,000 $2,450,000 $1,220,000 $1,500,000 $1,000,000 $1,810,000 $945,000 $1,395,000 $1,950,000 $3,860,000

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

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

12 % C-MON HA TH NG E

$1,856,262 $2,175,000 $7,600,000 $1,810,000 $2,306,000 $6,600,000 $2,000,000 $2,800,000 $4,500,000 $1,750,000 $2,440,000 $1,515,000 $1,750,000 $1,430,000 $1,900,000 $3,100,000 $9,000,000 $3,900,000 $5,150,000 $2,300,000 $2,500,000 $3,185,000 $1,600,000 $6,800,000 $1,520,000 $3,550,000 $1,400,000 $5,201,000 $16,550,000 $2,270,000 $17,600,000 $2,110,000 $5,050,000 $2,480,000 $1,830,000 $2,770,000 $1,869,000 $1,950,000 $2,500,000 $1,720,000 $8,000,000

QU % CARTER HA NG E

85 42 82 54 86 58 59 211 300 293 267 70 40 14 56 247 57 27 59 39 110 17 67 144 9 146 31 95 388 75 177 65 32 127 102 44 31 7 28 45 66

$1,117,500 $495,000 $565,000 $900,000 $895,000 $690,000 $1,770,000 $1,140,000 $1,140,000 $990,000 $805,000 $1,550,000 $815,000 $2,495,000 $545,000

-4% N/A 0% 2% 1% -1% N/A -3% -6% N/A -3% N/A -1% -1% N/A

-4% 9% 4% -3% -5% -1% -3% -7% -5% 3% -1% -17% -1% N/A 3%

56 10 85 109 142 515 10 43 64 23 67 11 112 23 11

$1,539,000 $595,000 $760,000 $1,610,000 $1,430,000 $1,355,000 $3,350,000 $1,802,000 $4,650,000 $1,270,000 $1,100,000 $2,900,000 $1,280,000 $3,220,000 $866,000

AUCKLAND — NORTH SHORE ALBANY $1,020,000 ALBANY HEIGHTS $1,075,000 BAYSWATER $1,165,000 BAYVIEW $790,000 BEACH HAVEN $800,000 BELMONT $1,060,000 BIRKDALE $770,000 BIRKENHEAD $945,000 BROWNS BAY $1,020,000 CAMPBELLS BAY $1,700,000 CASTOR BAY $1,440,000 CHATSWOOD $1,160,000 DEVONPORT $1,545,000 FAIRVIEW HEIGHTS $1,350,000 FORREST HILL $1,115,000 GLENFIELD $840,000 GREENHITHE $1,290,000 HAURAKI $1,325,000 HILLCREST $990,000 LONG BAY $1,415,000 LUCAS HEIGHTS $1,705,000 MAIRANGI BAY $1,430,000 MILFORD $1,190,000 MURRAYS BAY $1,310,000 NARROW NECK $1,385,000 NORTHCOTE $1,015,000 NORTHCOTE POINT $1,260,000 NORTHCROSS $970,000 OKURA $2,365,000 OTEHA $925,000 PAREMOREMO $1,410,000 PINEHILL $1,370,000 ROSEDALE $895,000 ROTHESAY BAY $1,225,000 SCHNAPPER ROCK $1,415,000 STANLEY POINT $1,700,000 SUNNYNOOK $1,010,000 TAKAPUNA $1,335,000 TORBAY $985,000 TOTARA VALE $845,000 UNSWORTH HEIGHTS $945,000 WAIAKE $1,145,000 WAIRAU VALLEY $790,000 WINDSOR PARK $1,125,000

0% N/A 0% 1% -1% 0% -1% 1% -0% -1% -1% -2% 0% 1% -0% 1% -1% -1% -2% -4% N/A 1% 1% 1% 2% 0% 1% N/A N/A -3% N/A -1% N/A 0% 3% -3% 1% -2% 1% 0% 1% -2% N/A 1%

-12% 3% -5% -2% -6% -2% -4% -1% -2% -7% -8% -6% -3% -4% -6% -3% -1% -2% -3% -11% N/A -4% 0% -5% -2% -1% -3% -3% N/A 1% N/A -0% -19% -5% 4% -8% -1% -3% -3% -3% -2% -6% 0% 2%

149 21 32 120 154 46 126 141 146 32 43 30 101 28 118 220 112 68 137 47 11 81 124 49 30 96 36 27 4 84 10 44 7 41 38 32 63 136 227 87 77 28 3 23

$1,640,000 $2,200,000 $2,825,000 $1,400,000 $1,550,000 $3,475,000 $1,271,000 $4,100,000 $4,050,000 $4,100,000 $3,180,000 $1,550,000 $10,000,000 $1,734,000 $2,660,000 $1,385,000 $2,980,000 $5,800,000 $1,705,000 $2,580,000 $3,373,400 $2,850,000 $6,575,000 $4,108,888 $5,000,000 $2,000,000 $3,500,000 $1,600,000 $2,650,000 $2,309,998 $3,375,000 $2,100,000 $1,000,000 $3,770,000 $3,050,000 $3,800,000 $1,568,000 $7,500,000 $3,050,000 $1,225,000 $1,760,000 $4,125,000 $728,000 $2,450,000

AUCKLAND — PAPAKURA CONIFER GROVE DRURY KARAKA OPAHEKE PAHUREHURE PAPAKURA RED HILL ROSEHILL TAKANINI

$800,000 $700,000 $1,190,000 $725,000 $740,000 $610,000 $585,000 $590,000 $720,000

-1% N/A -1% -1% -1% 2% 4% -2% -1%

-1% N/A 7% -1% -3% 0% 3% -3% 1%

81 8 101 77 59 505 38 51 318

$1,175,000 $1,785,000 $3,200,000 $2,117,000 $1,025,000 $1,600,000 $875,000 $1,335,000 $2,450,000

AUCKLAND — RODNEY ALGIES BAY ARKLES BAY ARMY BAY COATESVILLE DAIRY FLAT GULF HARBOUR HATFIELDS BEACH HELENSVILLE HUAPAI KAIPARA FLATS KAUKAPAKAPA KUMEU LEIGH MAHURANGI WEST MAKARAU MANLY MATAKANA

$915,000 $850,000 $890,000 $2,285,000 $2,087,500 $810,000 $785,000 $800,000 $945,000 $1,210,000 $1,180,000 $1,140,000 $825,000 $1,525,000 $985,000 $820,000 $1,210,000

N/A N/A 1% N/A N/A 3% N/A 1% -2% N/A 2% -6% N/A -12% N/A 1% N/A

2% -4% 3% -12% -15% 0% 0% -2% -4% 13% 1% -24% -7% 14% 8% -2% 4%

13 18 30 15 24 135 15 89 34 12 27 74 11 2 13 85 30

$1,575,000 $1,550,000 $1,155,000 $4,645,000 $4,050,000 $2,000,000 $1,545,000 $1,750,000 $1,350,000 $1,410,000 $1,605,000 $3,200,000 $12,000,000 $985,000 $1,450,000 $4,625,000 $2,750,000

NORTHPARK ORERE POINT OTARA PAKURANGA PAKURANGA HEIGHTS PAPATOETOE SHAMROCK PARK SOMERVILLE SUNNYHILLS THE GARDENS TOTARA HEIGHTS TOTARA PARK WATTLE DOWNS WHITFORD WIRI

LAT MEEST $ VDIAN ALU E

-3% -9% -7% 1% -6% -6% -1% -6% -3% -2% 3% -4% -10% 1% -4% -7% -1% -0% -3% 0% -2% -1% -0% -7% -3% -6% -5% -5% -1% -3% -5% -6% 0% -8% -2% -3% -1% N/A -10% 3% -13%

UR B

-4% 1% -5% 1% -3% -3% 3% 1% -2% -1% 1% -2% -1% N/A -2% -2% 2% 4% -5% 4% -2% N/A 2% 3% N/A -2% -1% -2% 1% 3% -4% -3% 2% 1% 5% 3% N/A N/A N/A 7% -3%

SUB

$1,040,000 $1,175,000 $1,495,000 $960,000 $1,250,000 $1,465,000 $1,105,000 $1,070,000 $1,395,000 $925,000 $795,000 $910,000 $670,000 $805,000 $985,000 $860,000 $1,145,000 $1,000,000 $1,560,000 $875,000 $625,000 $1,165,000 $807,500 $1,255,000 $895,000 $1,390,000 $895,000 $1,732,500 $1,720,000 $1,120,000 $1,497,500 $1,130,000 $2,120,000 $1,110,000 $1,345,000 $925,000 $947,500 $1,165,000 $1,190,000 $925,000 $1,655,000

LAT MEEST $ VDIAN ALU E

HILLSBOROUGH KINGSLAND KOHIMARAMA LYNFIELD MEADOWBANK MISSION BAY MORNINGSIDE MOUNT ALBERT MOUNT EDEN MOUNT ROSKILL MOUNT WELLINGTON NEW WINDSOR NEWMARKET OMIHA ONE TREE HILL ONEHUNGA ONEROA ONETANGI ORAKEI OSTEND OTAHUHU PALM BEACH PANMURE PARNELL PENROSE POINT CHEVALIER POINT ENGLAND PONSONBY REMUERA ROYAL OAK SAINT HELIERS SAINT JOHNS SAINT MARYS BAY SANDRINGHAM STONEFIELDS SURFDALE THREE KINGS WAIHEKE ISLAND WAIOTAIKI BAY WATERVIEW WESTMERE

UR B

12 % C-MON HA TH NG E

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

OneRoof Property Report

QU % CARTER HA NG E

16

N/A N/A 1% 1% -2% 1% N/A N/A -1% N/A -5% 0% 0% 1% 1% N/A N/A N/A -1% 1% 0% -2% -1% 0% N/A -2% -4% -4% 1%

1% -0% -1% -2% -4% -1% -1% -5% N/A -5% N/A 0% -4% -3% -3% -2% -6% -4% -4% -5% 1% -4% -1% -1% -4% -23% -10% -5% N/A

2 3 329 88 55 476 21 4 357 4 2 46 37 383 260 24 8 19 175 82 96 198 220 206 16 26 189 23 85

$755,000 $775,000 $1,500,000 $1,230,000 $1,490,000 $2,504,347 $1,730,000 $1,790,000 $1,880,000 $852,000 $645,000 $1,739,131 $1,500,000 $1,320,000 $1,400,500 $1,950,000 $1,940,000 $1,450,000 $1,280,000 $1,080,000 $1,480,000 $1,920,000 $1,380,000 $1,720,000 $1,329,000 $1,775,000 $1,950,000 $1,208,000 $3,620,000

WAIKATO COROMANDEL COOKS BEACH COROGLEN COROMANDEL HAHEI HIKUTAIA HOT WATER BEACH KAIMARAMA KOPU KUAOTUNU MATARANGI MATATOKI ONEMANA OPITO BAY OPOUTERE PAUANUI PURIRI TAIRUA TAPU TE KOUMA TE MATA TE PURU THAMES THORNTON BAY TUATEAWA WAIOMU

$715,000 $705,000 $610,000 $990,000 $685,000 $1,015,000 $830,000 $615,000 $710,000 $600,000 $555,000 $695,000 $1,105,000 $647,500 $810,000 $577,500 $660,000 $570,000 $862,500 $590,000 $595,000 $495,000 $707,500 $530,000 $522,500

-3% N/A 8% -7% N/A N/A N/A N/A N/A 3% -3% N/A N/A N/A 7% N/A 2% 12% N/A N/A N/A 1% N/A N/A N/A

4% N/A 24% 4% N/A 12% N/A 3% N/A 5% -9% -3% 8% -1% 9% -7% 2% 6% 8% 4% 10% 1% 10% 22% 7%

27 3 57 24 6 4 4 4 4 54 2 12 5 2 105 9 69 1 6 5 7 152 12 5 8

$3,000,000 $710,000 $1,345,000 $4,050,000 $930,000 $2,000,000 $1,339,000 $675,000 $1,650,000 $2,150,000 $684,000 $1,001,110 $1,375,000 $630,000 $3,637,500 $1,100,000 $1,775,000 $355,000 $920,000 $725,000 $850,000 $1,260,000 $1,100,000 $530,000 $780,000

$725,000 $865,000 $810,000 $645,000

4% N/A N/A -1%

1% 10% N/A 8%

224 15 5 242

$4,200,000 $3,220,000 $1,200,000 $1,780,000

$410,000 $712,500 $620,000 $965,000 $570,000 $655,000 $550,000 $470,000 $525,000 $420,000 $490,000 $540,000 $562,500 $805,000 $540,000 $425,000 $550,000 $860,000 $675,000 $555,000 $535,000 $625,000 $820,000 $600,000 $795,000 $520,000 $465,000 $460,000 $1,042,500 $1,012,500 $565,000 $700,000 $665,000 $1,255,000 $740,000 $770,000 $660,000 $560,000 $540,000 $562,500 $715,000 $450,000

0% N/A -1% N/A 2% 0% 3% 1% 2% 6% 3% 1% 1% 1% 2% 0% 2% N/A 2% 4% 2% -0% N/A 4% 1% 4% 1% 5% N/A N/A 1% 0% N/A N/A 0% 0% N/A 1% 2% N/A -1% 2%

8% N/A 6% 21% 7% 6% 8% 2% 6% 11% 7% 9% 4% 5% 5% 5% 5% 1% 7% 8% 4% 9% 2% 12% 5% 6% 4% 5% 0% -4% 0% 2% 6% 15% 2% 3% 7% 5% 5% 4% 4% 14%

45 21 53 7 264 31 72 22 189 68 128 68 59 285 59 198 132 13 41 87 293 52 16 176 153 56 130 256 13 12 106 40 17 5 90 122 3 143 41 13 22 33

$620,000 $1,021,000 $1,453,000 $925,000 $1,405,000 $838,000 $2,225,000 $618,000 $812,000 $673,000 $1,560,000 $660,000 $870,000 $1,972,000 $765,000 $1,312,500 $775,000 $1,469,000 $822,500 $1,140,000 $1,500,000 $1,300,000 $1,700,000 $1,400,000 $1,230,000 $720,000 $1,600,000 $860,000 $2,425,000 $1,280,000 $1,680,000 $1,050,000 $812,000 $1,710,000 $1,680,000 $1,250,100 $735,000 $1,610,000 $695,000 $1,500,000 $902,000 $1,475,000

$550,000 $540,000 $335,000 $500,000 $390,000 $540,000 $535,000 $425,000 $815,000 $745,000 $490,000 $750,000 $635,000

N/A N/A N/A 5% 3% N/A N/A 6% 9% N/A N/A N/A N/A

N/A N/A 0% 4% 4% N/A N/A 16% 7% 45% N/A N/A 20%

6 4 12 40 87 4 13 132 75 9 5 9 7

$676,500 $775,000 $378,000 $637,000 $785,000 $800,000 $810,000 $850,000 $1,700,000 $1,300,000 $671,500 $830,000 $730,000

$720,000 $520,000 $525,000 $1,007,500 $520,000 $540,000 $430,000 $742,500 $430,000

N/A 1% 1% N/A N/A N/A 5% N/A N/A

19% 9% 18% 23% N/A N/A 16% N/A N/A

6 235 270 5 4 8 136 5 7

$775,000 $2,250,000 $1,200,000 $1,120,000 $660,000 $885,000 $1,400,000 $640,000 $572,000

OTOROHANGA KAWHIA OTOROHANGA

$390,000 $385,000

N/A 5%

10% 22%

14 102

$615,000 $930,000

SOUTH WAIKATO ARAPUNI KINLEITH LICHFIELD PUTARURU TAPAPA TIRAU TOKOROA

$370,000 $705,000 $660,000 $340,000 $600,000 $400,000 $240,000

N/A N/A N/A 1% N/A -5% 2%

19% N/A 11% 13% 23% 13% 26%

13 3 10 106 3 45 360

$535,000 $685,000 $745,000 $1,250,000 $735,000 $820,000 $825,000

TAUPO ACACIA BAY BROADLANDS FOREST HATEPE

$750,000 $507,500 $445,000

-3% N/A 9%

6% 22% 29%

53 12 N/A

$3,000,000 $810,000 N/A

WHANGAMATA WHANGAPOUA WHENUAKITE WHITIANGA HAMILTON BADER BAVERSTOCK BEERESCOURT BURBUSH CHARTWELL CHEDWORTH CLAUDELANDS DEANWELL DINSDALE ENDERLEY FAIRFIELD FAIRVIEW DOWNS FITZROY FLAGSTAFF FOREST LAKE FRANKTON GLENVIEW GORDONTON GRANDVIEW HEIGHTS HAMILTON CENTRAL HAMILTON EAST HAMILTON LAKE HARROWFIELD HILLCREST HUNTINGTON MAEROA MELVILLE NAWTON NEWSTEAD PUKETAHA PUKETE QUEENWOOD RIVERLEA ROTOKAURI ROTOTUNA ROTOTUNA NORTH RUAKURA SAINT ANDREWS SILVERDALE TEMPLE VIEW WESTERN HEIGHTS WHITIORA HAURAKI KAIAUA KARANGAHAKE KEREPEHI NGATEA PAEROA PIPIROA TURUA WAIHI WAIHI BEACH WAIKINO WAITAKARURU WHAKATIWAI WHIRITOA MATAMATA MANAWARU MATAMATA MORRINSVILLE OKAUIA RICHMOND DOWNS TAHUNA TE AROHA TE POI WAIHOU

17

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

$825,000 $900,000 $715,000 $735,000 $850,000 $770,000 $860,000 $1,060,000 $925,000 $690,000 $680,000 $735,000 $790,000 $725,000 $745,000 $920,000 $800,000 $970,000 $655,000 $700,000 $850,000 $910,000 $795,000 $885,000 $820,000 $1,000,000 $940,000 $820,000 $990,000

12 % C-MON HA TH NG E

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

QU % CARTER HA NG E

$1,620,000 $3,000,000 $7,225,000 $3,450,000 N/A $745,000 $5,850,000 $558,000 $3,350,000 $2,080,000 N/A $5,255,000 N/A $4,550,000 $1,920,000 $2,300,000 $3,300,000 $2,500,000 $2,425,000 $3,800,000 $855,000 $525,000 $3,500,000 $700,000 $2,125,000 $2,800,000 $2,590,000 $1,200,000 $4,500,000 $1,200,000 $1,055,000 $1,480,000

LAT MEEST $ VDIAN ALU E

14 23 39 232 N/A 31 11 1 18 126 N/A 54 N/A 121 85 13 203 30 10 9 2 1 9 2 37 12 16 8 119 57 5 5

UR B

-4% 13% 2% 2% N/A -3% 0% -11% 3% -1% N/A -8% N/A -6% -2% 8% -3% 2% -29% 7% -2% 4% -5% -2% 14% -9% -3% -4% 6% 3% 13% 8%

SUB

12 % C-MON HA TH NG E

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

QU % CARTER HA NG E N/A N/A 5% 2% N/A -1% N/A N/A 3% 0% N/A -5% N/A -6% -3% N/A 1% -0% N/A N/A N/A N/A N/A N/A 1% N/A N/A N/A 4% -2% N/A N/A

LAT MEEST $ VDIAN ALU E $1,070,000 $1,102,500 $1,530,000 $910,000 N/A $565,000 $1,260,000 $590,000 $1,215,000 $915,000 N/A $1,085,000 N/A $1,060,000 $720,000 $1,150,000 $770,000 $960,000 $1,675,000 $1,157,500 $927,500 $1,555,000 $1,100,000 $1,012,500 $1,275,000 $1,590,000 $1,815,000 $865,000 $850,000 $575,000 $915,000 $1,390,000

UR B MATAKATIA MURIWAI OMAHA OREWA PAKIRI PARAKAI POINT WELLS PORT ALBERT PUHOI RED BEACH REDVALE RIVERHEAD SHELLY BEACH SILVERDALE SNELLS BEACH SOUTH HEAD STANMORE BAY STILLWATER TAUPAKI TAWHARANUI PENINSULA TE ARAI TI POINT TINDALLS BEACH TOMARATA WAIMAUKU WAINUI WAITOKI WAIWERA WARKWORTH WELLSFORD WHANGARIPO WHANGATEAU

SUB

MO NTH

S)

OneRoof Property Report

$830,000 $995,000 $835,000 $877,500 $705,000 $645,000 $575,000 $1,185,000 $345,000 $745,000 $890,000 $665,000 $607,500 $360,000 $790,000 $465,000 $755,000 $620,000 $905,000 $865,000 $1,060,000 $705,000 $855,000 $1,280,000 $700,000 $890,000 $382,500 $580,000 $770,000 $905,000 $570,000 $740,000 $940,000 $527,500

N/A N/A N/A N/A N/A N/A N/A N/A 1% N/A N/A N/A N/A N/A N/A 3% -8% N/A N/A -13% N/A -5% N/A 5% N/A -5% N/A -4% -6% 5% 1% N/A 3% N/A

-10% 2% N/A 6% 9% N/A -10% -7% 1% N/A -8% -10% N/A 16% N/A 8% -7% -5% -9% -9% 8% 5% -2% 1% 9% 10% N/A -4% -6% -4% 1% N/A 6% N/A

5 16 3 9 4 7 19 8 188 5 14 3 9 17 5 166 15 5 17 26 18 124 4 101 30 17 2 55 2 35 147 10 34 4

$875,000 $1,630,000 $725,000 $1,100,000 $352,000 $872,000 $1,545,000 $2,820,000 $1,400,000 $1,245,000 $1,313,000 $700,000 $960,000 $420,000 $1,300,000 $1,500,000 $975,000 $615,000 $1,280,000 $1,600,000 $2,870,000 $1,900,000 $1,240,000 $4,078,000 $1,673,940 $1,800,000 $800,000 $1,150,000 $845,000 $1,550,000 $1,333,000 $788,000 $1,320,000 $640,000

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

$765,000 $1,005,000 $455,000 $615,000 $885,000 $840,000 $750,000 $850,000 $920,000 $510,000 $955,000 $710,000

2% -1% 5% -1% 1% 1% 8% N/A N/A 3% N/A N/A

6% 3% 7% 8% -4% 7% 11% N/A -1% 10% 5% 15%

402 17 72 307 25 47 41 11 24 417 14 13

$3,250,000 $2,225,000 $955,000 $1,755,000 $1,500,000 $2,800,000 $961,000 $1,650,000 $1,595,000 $1,400,000 $1,520,000 $1,100,000

$245,000 $295,000 $255,000 $270,000

N/A N/A N/A 10%

23% 13% 50% 29%

4 6 20 125

$330,000 $395,000 $790,000 $800,000

SUB WAITOMO AWAKINO MOKAU PIOPIO TE KUITI

BAY OF PLENTY BAY OF PLENTY AONGATETE ATHENREE HAURAKI SURROUNDS KAIMAI KATIKATI MAKETU OMOKOROA OROPI PAENGAROA PONGAKAWA PUKEHINA

$825,000 $670,000 $802,500 $935,000 $525,000 $495,000 $760,000 $1,075,000 $620,000 $705,000 $775,000

N/A 4% 1% 2% -4% N/A 1% N/A N/A N/A 7%

N/A 5% -1% 2% -4% 5% -7% 10% 13% -2% 7%

34 30 52 47 119 12 92 20 25 7 37

$1,450,000 $1,500,000 $2,000,000 $1,500,000 $2,850,000 $1,530,000 $2,000,000 $1,562,000 $1,445,000 $820,000 $1,425,000

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

WAIKATO AKA AKA BUCKLAND CHURCHILL EUREKA GLEN MASSEY GLEN MURRAY HOROTIU HORSHAM DOWNS HUNTLY MANGATANGI MANGATAWHIRI MARAMARUA MERCER MEREMERE MIRANDA NGARUAWAHIA ONEWHERO ORINI OTAUA PUKEKAWA PUKEMOREMORE RAGLAN RANGIRIRI TAMAHERE TAUPIRI TAUWHARE TE AKAU TE KAUWHATA TE KOHANGA TE KOWHAI TUAKAU WAERENGA WHATAWHATA WHITIKAHU

12 % C-MON HA TH NG E

$1,335,000 $1,300,000 $1,185,000 $1,720,000 $1,590,000 $1,400,000 $710,000 $1,150,000 $610,000 $1,100,000 $660,000 $960,000 $720,000 $610,000 $2,800,000 $717,000 $680,000 $1,680,000 $1,250,000 $1,551,500 $2,000,000

QU % CARTER HA NG E

67 68 40 16 76 8 24 131 22 10 5 51 67 52 266 1 140 62 32 10 33

$525,000 $1,170,000 $1,115,000 $1,050,000

6% N/A N/A 9%

3% 10% 5% 13%

183 18 11 67

$1,599,000 $2,660,000 $1,650,000 $3,000,000

KAWERAU KAWERAU

$245,000

4%

7%

171

$617,000

OPOTIKI OPOTIKI & SURROUNDS OPOTIKI COASTAL TE KAHA WAIHAU BAY

$320,000 $400,000 $370,000 $395,000

0% N/A N/A N/A

3% 7% -15% N/A

91 21 3 2

$1,250,000 $855,000 $660,000 $580,000

ROTORUA FAIRY SPRINGS FENTON PARK FORDLANDS GLENHOLME HAMURANA HANNAHS BAY HILLCREST HOLDENS BAY HOROHORO KAWAHA POINT KOUTU LAKE OKAREKA LAKE ROTOMA LAKE TARAWERA LYNMORE MAMAKU MANGAKAKAHI MOUREA NGAKURU NGAPUNA NGONGOTAHA OHINEMUTU OKERE FALLS OWHATA PUKEHANGI REPOROA & SURROUNDS ROTOITI FOREST ROTORUA CENTRAL SELWYN HEIGHTS SPRINGFIELD TIHIOTONGA TIKITERE UTUHINA VICTORIA WAIKITE VALLEY WESTBROOK WESTERN HEIGHTS WHAKAREWAREWA

$400,000 $385,000 $215,000 $505,000 $802,500 $370,000 $435,000 $410,000 $790,000 $505,000 $320,000 $815,000 $380,000 $870,000 $700,000 $360,000 $380,000 $325,000 $755,000 $260,000 $415,000 $407,500 $587,500 $430,000 $415,000 $520,000 $470,000 $365,000 $380,000 $575,000 $675,000 $870,000 $420,000 $400,000 $800,000 $490,000 $345,000 $365,000

8% 3% -2% 1% -1% N/A -1% N/A N/A 0% 5% N/A N/A N/A 4% -1% 7% N/A N/A 2% 1% -2% N/A 1% 2% N/A N/A N/A N/A -1% N/A N/A -1% 7% N/A -4% 6% N/A

18% 15% 13% 12% -3% 16% 9% 11% 21% 12% 12% 0% 13% -5% 12% 20% 17% 19% 20% 11% 9% 9% 12% 9% 17% 19% 13% 16% 19% 8% 7% 6% 9% 18% 19% 9% 10% 20%

41 29 27 87 46 9 30 14 2 38 44 7 11 15 77 28 76 11 8 2 93 1 9 138 114 18 5 15 19 84 9 21 39 41 3 94 77 2

$550,000 $575,000 $340,000 $1,080,000 $2,050,000 $980,000 $596,000 $750,000 $705,000 $1,200,000 $548,000 $1,450,000 $557,000 $1,600,000 $1,018,000 $570,000 $675,000 $1,350,000 $815,000 $315,000 $1,357,500 $308,000 $1,070,000 $1,000,000 $815,000 $750,000 $1,090,000 $610,000 $420,000 $905,000 $900,000 $1,500,000 $605,000 $840,000 $880,000 $2,200,000 $820,000 $415,366

$535,000 $800,000 $560,000 $495,000 $530,000 $535,000 $510,000 $735,000 $720,000 $600,000 $785,000 $760,000 $695,000 $705,000 $470,000 $475,000 $740,000 $670,000 $590,000 $1,425,000 $615,000

-1% 0% -1% 3% 3% 2% 1% -13% -3% -1% 4% -1% -1% 2% 4% N/A 0% 3% 0% N/A 0%

3% 5% 4% 11% 6% 7% 4% 4% 3% 7% 8% 4% 7% 6% 8% 7% 5% -1% 2% 17% 4%

60 117 76 91 71 37 53 N/A 80 43 343 65 122 557 33 13 226 41 68 15 180

$795,000 $2,215,000 $858,000 $733,000 $665,000 $872,500 $780,000 N/A $3,000,000 $1,100,000 $6,000,000 $2,350,000 $1,655,000 $2,150,000 $620,000 $740,000 $4,850,000 $1,350,000 $1,675,000 $2,075,000 $1,700,000

$675,000 $365,000 $590,000 $480,000 $100,000 $120,000 $765,000 $635,000 $675,000 $185,000 $260,000 $840,000 $450,000

1% -1% N/A N/A N/A N/A -4% N/A N/A N/A N/A N/A 1%

6% 16% 3% N/A 43% N/A 10% 2% 6% N/A N/A 13% 11%

27 51 2 17 22 2 94 15 7 14 8 5 336

$972,500 $934,000 $840,000 $650,000 $250,000 $375,000 $1,730,000 $905,000 $1,017,500 $740,000 $810,000 $950,000 $1,550,000

TE PUKE TE PUNA WAIROA WHAKAMARAMA

TAURANGA BELLEVUE BETHLEHEM BROOKFIELD GATE PA GREERTON HAIRINI JUDEA MATAPIHI MATUA MAUNGATAPU MOUNT MAUNGANUI OHAUITI OTUMOETAI PAPAMOA PARKVALE POIKE PYES PA TAURANGA CENTRAL TAURANGA SOUTH TAURIKO WELCOME BAY WHAKATANE COASTLANDS EDGECUMBE MANAWAHE MATATA MURUPARA MURUPARA SURROUNDS OHOPE OTAKIRI ROTOMA TANEATUA TE TEKO THORNTON WHAKATANE

LAT MEEST $ VDIAN ALU E

11% 9% 19% 25% 15% 42% 12% 7% 16% 6% 25% 10% 12% 16% 8% 15% 30% 6% 8% 16% 12%

UR B

-3% 2% -1% N/A 15% N/A N/A 2% N/A N/A N/A 1% 1% 4% -1% 2% -6% -2% 20% N/A -3%

HILLTOP KINLOCH KURATAU LAKE TAUPO (EAST) MANGAKINO MAUNGANAMU MOTUOAPA NUKUHAU OMORI ORUANUI PUKAWA RANGATIRA PARK RICHMOND HEIGHTS TAUHARA TAUPO TOKAANU TURANGI WAIPAHIHI WAIRAKEI & SURROUNDS WAITAHANUI WHAREWAKA

SUB

12 % C-MON HA TH NG E

$540,000 $725,000 $480,000 $500,000 $235,000 $985,000 $475,000 $542,500 $460,000 $790,000 $500,000 $630,000 $480,000 $360,000 $470,000 $265,000 $260,000 $660,000 $655,000 $547,500 $765,000

UR B

QU % CARTER HA NG E

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

OneRoof Property Report

LAT MEEST $ VDIAN ALU E

18

3% -3% N/A N/A N/A 1% 1% -1% 2% N/A 1% -4% -1% N/A 0% N/A 9% 0% 1% -0% 5% N/A N/A N/A 1% 0% -8% 2% N/A N/A 4% 2% N/A 1% 1% 2%

6% 1% 4% 4% 5% 0% 4% 2% 6% 8% 3% 1% 10% -3% 2% 2% 17% 2% 3% 4% 3% 9% -1% 12% 3% 3% -1% 8% 26% N/A 5% 7% 7% 5% 4% 5%

172 34 18 9 21 42 85 21 41 12 28 22 133 17 35 2 32 101 47 136 32 33 7 5 63 73 32 5 1 14 63 105 17 50 156 51

$930,000 $550,000 $790,000 $1,020,000 $890,000 $2,010,226 $1,100,000 $799,000 $1,370,000 $2,050,000 $800,000 $923,601 $1,300,000 $1,100,000 $800,000 $860,000 $420,000 $998,000 $1,555,000 $3,180,000 $1,450,000 $790,000 $1,600,000 $795,000 $610,000 $1,750,000 $1,575,000 $862,500 $525,000 $1,150,000 $855,000 $912,500 $980,000 $780,000 $860,000 $785,000

$210,000 $275,000 $150,000 $210,000 $255,000 $130,000 $165,000

8% 8% 3% 17% 21% 0% 10%

14% 12% 11% 12% 28% 24% 43%

70 328 27 28 56 34 41

$490,000 $810,000 $625,000 $610,000 $660,000 $215,000 $310,000

$310,000 $280,000

N/A -2%

18% 8%

6 169

$525,000 $1,475,000

MANAWATU-WHANGANUI HOROWHENUA FOXTON FOXTON BEACH HOKIO BEACH LEVIN MANAKAU OHAU SHANNON TOKOMARU WAITARERE BEACH

$275,000 $365,000 $335,000 $345,000 $560,000 $645,000 $250,000 $325,000 $390,000

6% 4% N/A 5% N/A N/A 4% N/A 5%

22% 22% 29% 17% 17% 12% 14% 23% 15%

87 101 11 574 20 31 62 17 45

$675,000 $780,000 $735,000 $950,000 $868,000 $1,340,000 $935,000 $700,000 $1,200,000

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

$395,000 $437,500 $325,000 $705,000 $717,500 $600,000 $365,000 $305,000 $202,500 $600,000

4% N/A 3% N/A N/A N/A 33% N/A N/A N/A

16% N/A 23% 13% 17% N/A 20% 15% 7% N/A

450 22 28 9 7 11 30 16 13 1

$1,100,000 $780,000 $535,000 $1,600,000 $1,500,000 $850,000 $1,200,000 $920,000 $400,000 $495,750

PALMERSTON NORTH AOKAUTERE ASHHURST AWAPUNI CLOVERLEA FITZHERBERT HIGHBURY HOKOWHITU KELVIN GROVE LINTON MILSON PALMERSTON NTH CNTRL ROSLYN TAKARO TERRACE END TURITEA

$750,000 $385,000 $400,000 $375,000 $645,000 $330,000 $520,000 $545,000 $672,500 $415,000 $420,000 $345,000 $375,000 $420,000 $875,000

N/A 0% 0% 4% 2% 2% 3% 1% N/A 4% 4% 5% 4% 2% N/A

21% 12% 11% 17% 12% 10% 13% 14% 17% 19% 15% 13% 15% 15% 15%

24 88 201 51 114 108 227 184 11 155 150 142 129 123 5

$1,780,000 $740,000 $925,000 $525,000 $1,420,000 $600,000 $1,550,000 $1,057,000 $860,000 $940,000 $790,000 $860,000 $575,000 $801,000 $965,000

19

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

WEST END WESTBROOK WHAKARONGO

$390,000 $330,000 $615,000

3% 3% N/A

15% 14% 13%

122 45 3

$1,111,000 $895,000 $690,000

RANGITIKEI BULLS HUNTERVILLE KOITIATA MARTON TAIHAPE & SURROUNDS

$280,000 $190,000 $282,500 $255,000 $180,000

10% N/A N/A 11% -12%

24% 41% 45% 21% 6%

44 25 5 197 48

$685,000 $705,000 $310,000 $580,000 $450,000

RUAPEHU KAKAHI MANUNUI NATIONAL PARK OHAKUNE OWHANGO RAETIHI TAUMARUNUI

$205,000 $187,500 $265,000 $330,000 $230,000 $135,000 $185,000

N/A N/A N/A 20% N/A -13% 12%

12% 25% 15% 18% 24% N/A 23%

6 21 15 109 16 44 129

$324,500 $330,000 $570,000 $640,000 $410,000 $555,000 $750,000

TARARUA DANNEVIRKE EKETAHUNA ORMONDVILLE PAHIATUA WOODVILLE

$245,000 $175,000 $375,000 $240,000 $235,000

7% N/A N/A 3% 15%

26% 13% 27% 20% 31%

198 22 10 116 64

$750,000 $468,000 $430,000 $855,000 $492,500

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

$245,000 $345,000 $685,000 $220,000 $335,000 $320,000 $475,000 $240,000 $470,000 $530,000 $385,000 $495,000 $570,000 $345,000 $430,000 $360,000 $305,000 $230,000 $260,000 $617,500

7% N/A N/A 19% -1% 7% N/A 14% N/A N/A N/A N/A -1% N/A 2% 4% 5% 10% 6% 7%

23% 13% 23% 38% 12% 14% 19% 26% N/A N/A 13% 13% 13% 25% 18% 26% 22% 33% 24% 14%

113 13 8 162 38 34 4 161 8 1 1 9 35 4 59 121 59 158 203 26

$700,000 $570,000 $820,000 $765,000 $699,000 $650,000 $675,000 $611,000 $770,000 $820,000 $465,000 $705,000 $851,438 $600,000 $900,000 $620,000 $670,000 $525,000 $660,000 $780,000

UR B

12 % C-MON HA TH NG E

SOUTH TARANAKI ELTHAM HAWERA MANAIA NORMANBY OPUNAKE PATEA WAVERLEY STRATFORD MIDHIRST STRATFORD

$445,000 $355,000 $415,000 $540,000 $410,000 $490,000 $435,000 $470,000 $570,000 $845,000 $477,500 $760,000 $380,000 $590,000 $415,000 $652,500 $310,000 $495,000 $410,000 $502,500 $770,000 $375,000 $685,000 $695,000 $345,000 $540,000 $590,000 $800,000 $662,500 $425,000 $410,000 $300,000 $802,500 $440,000 $395,000 $525,000

QU % CARTER HA NG E

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

LAT MEEST $ VDIAN ALU E

TARANAKI

SUB

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

12 % C-MON HA TH NG E

QU % CARTER HA NG E

LAT MEEST $ VDIAN ALU E

UR B SUB

MO NTH

S)

OneRoof Property Report

GISBORNE / HAWKE’S BAY GISBORNE AWAPUNI ELGIN GISBORNE HEXTON INNER KAITI KAITI LYTTON WEST MAKARAKA MANGAPAPA MATAWHERO MATOKITOKI OKITU ORMOND OUTER KAITI PATUTAHI RIVERDALE TAMARAU TE HAPARA WAINUI WHATAUPOKO

$380,000 $260,000 $330,000 $937,500 $395,000 $250,000 $630,000 $460,000 $335,000 $857,500 $805,000 $730,000 $745,000 $230,000 $602,500 $420,000 $280,000 $330,000 $837,500 $475,000

N/A 4% 6% N/A 3% 6% 3% N/A 6% N/A 24% N/A N/A 10% N/A N/A N/A 5% -0% 4%

21% 11% 22% 16% 14% 14% 18% 14% 16% 14% 13% 14% 13% 24% 28% 24% 17% 20% 12% 17%

6 35 41 5 35 60 26 13 97 1 1 18 9 53 4 30 15 113 27 85

$1,900,000 $385,000 $615,000 $1,300,000 $730,000 $665,000 $980,000 $676,000 $960,000 $425,000 $522,500 $1,090,000 $1,135,000 $1,125,000 $830,000 $1,100,000 $395,000 $600,000 $1,545,000 $840,000

HASTINGS AKINA BRIDGE PA CAMBERLEY CLIVE CROWNTHORPE ESKDALE FLAXMERE FRIMLEY HASTINGS HASTINGS COUNTRY HAUMOANA HAVELOCK NORTH KARAMU LONGLANDS MAHORA MARAEKAKAHO MAYFAIR PAKIPAKI PAKOWHAI

$415,000 $800,000 $295,000 $555,000 $757,500 $687,500 $275,000 $595,000 $380,000 $457,500 $475,000 $750,000 $975,000 $800,000 $485,000 $795,000 $415,000 $577,500 $855,000

-2% N/A 7% -4% N/A 1% 2% N/A 1% N/A -12% N/A 1% N/A 8% N/A 1% N/A N/A

6% 16% 11% 0% 0% 9% 12% N/A 6% 19% -2% N/A 8% 13% 15% 4% 11% -13% N/A

90 4 35 38 4 24 210 96 87 3 26 382 3 13 107 10 86 1 7

$761,500 $1,650,000 $742,000 $1,200,000 $955,000 $1,210,000 $442,000 $1,260,000 $780,000 $1,100,000 $1,673,000 $2,800,000 $1,350,000 $1,200,000 $935,000 $910,000 $685,000 $801,000 $1,050,000

$760,000 $2,135,000 $1,100,000 $685,000 $665,000 $1,350,000 $1,576,000 $1,300,000 $1,550,000 $882,750 $649,500

MASTERTON CARTERTON CASTLEPOINT MASTERTON MATAHIWI MATAIKONA OPAKI RIVERSDALE BEACH SOLWAY TE WHITI TINUI UPPER PLAIN

HAWKE’S BAY CNTRLHAWKES BAYCNTRY OTANE RANGITIKEI SURROUNDS TAKAPAU WAIPAWA

$360,000 $375,000 $465,000 $225,000 $340,000

1% N/A N/A N/A 3%

22% 32% 31% N/A 20%

183 24 11 19 69

$1,230,000 $1,740,000 $920,000 $697,000 $900,000

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

$675,000 $655,000 $675,000 $720,000 $565,000 $652,500 $305,000 $400,000 $805,000 $680,000 $465,000 $435,000 $525,000 $460,000 $820,000 $450,000 $575,000 $535,000 $690,000

1% -4% 2% -1% 2% N/A 11% 3% N/A 2% -4% 2% N/A 2% 1% -3% 0% 3% 1%

7% 3% 7% 7% 7% 6% 24% 10% N/A 10% 2% 12% N/A 11% 10% 6% 7% 27% 6%

35 37 43 97 137 14 55 141 8 62 127 139 6 85 55 107 302 33 19

$1,750,000 $840,000 $1,500,000 $3,150,000 $1,100,000 $1,500,000 $407,950 $850,000 $936,000 $1,563,000 $1,188,000 $615,000 $515,000 $636,000 $1,390,000 $690,000 $2,800,000 $747,000 $1,800,000

PORIRUA AOTEA ASCOT PARK CAMBORNE CANNONS CREEK ELSDON JUDGEFORD PAPAKOWHAI PAREMATA PAUATAHANUI PLIMMERTON PORIRUA EAST PUKERUA BAY TAKAPUWAHIA TITAHI BAY WAITANGIRUA WHITBY

13% 52%

14 72

$850,000 $490,000

$660,000 $480,000 $440,000 $645,000 $535,000 $605,000 $882,500 $605,000 $595,000 $940,000 $605,000 $660,000 $425,000

N/A 7% 6% N/A 3% 3% N/A 4% 3% N/A 3% 2% N/A

23% 16% 17% 11% 8% 7% N/A 6% 4% 9% 6% 10% 21%

18 140 55 27 240 247 16 120 86 16 276 94 8

$1,390,000 $2,200,000 $850,000 $1,280,000 $1,202,001 $1,330,000 $1,525,000 $2,360,000 $1,350,000 $1,500,000 $2,100,000 $1,715,000 $625,000

$685,000 $585,000 $655,000 $675,000 $920,000 $850,000 $645,000 $625,000 $675,000 $625,000 $700,000 $790,000 $1,235,000 $845,000 $660,000 $670,000 $455,000 $545,000 $465,000 $645,000 $710,000 $840,000 $495,000 $460,000 $735,000 $435,000 $595,000 $670,000 $860,000 $790,000

-1% 4% 1% -2% N/A -2% 1% 0% N/A 5% 1% -3% N/A -3% -5% -2% N/A 2% 9% -2% -5% N/A 10% 8% 0% 10% 2% 1% -4% -3%

6% 15% 10% 6% 9% 8% 8% 8% 9% 14% 11% 5% 10% 10% 16% 10% 12% 6% 11% 9% 4% 11% 14% 8% 11% 12% 8% 9% 4% 9%

31 79 50 48 12 63 38 44 14 67 28 50 9 3 2 55 11 23 132 31 119 5 215 73 22 394 61 79 66 3

$932,200 $1,001,001 $1,375,000 $1,390,000 $2,050,000 $1,620,000 $1,250,000 $848,000 $1,260,000 $1,250,000 $1,720,000 $2,950,000 $2,850,000 $2,500,000 $741,000 $1,122,000 $730,000 $650,000 $1,000,000 $1,165,000 $1,055,000 $1,495,000 $782,000 $752,000 $1,380,000 $980,000 $925,000 $1,300,500 $1,664,000 $948,500

KAPITI COAST OTAIHANGA OTAKI OTAKI BEACH PAEKAKARIKI PARAPARAUMU PARAPARAUMU BEACH PEKA PEKA RAUMATI BEACH RAUMATI SOUTH TE HORO WAIKANAE WAIKANAE BEACH WAIKAWA BEACH LOWER HUTT ALICETOWN AVALON BELMONT BOULCOTT DAYS BAY EASTBOURNE EPUNI FAIRFIELD HARBOUR VIEW KELSON KOROKORO LOWER HUTT LOWRY BAY MAHINA BAY MANOR PARK MAUNGARAKI MELLING MOERA NAENAE NORMANDALE PETONE POINT HOWARD STOKES VALLEY TAITA TIROHANGA WAINUIOMATA WAIWHETU WATERLOO WOBURN YORK BAY

$445,000 $530,000 $365,000 $725,000 $345,000 $690,000 $550,000 $375,000 $675,000 $357,500 $775,000

2% N/A 4% 13% N/A N/A -0% 6% N/A N/A N/A

14% 8% 16% 11% 10% -3% 8% 21% 6% 10% 9%

230 6 450 N/A 6 11 22 123 4 2 13

$1,800,000 $570,000 $1,300,000 N/A $462,500 $1,397,000 $1,130,000 $775,000 $1,230,000 $250,000 $1,000,000

$865,000 $460,000 $722,500 $440,000 $465,000 $1,425,000 $700,000 $700,000 $1,755,000 $785,000 $470,000 $665,000 $450,000 $515,000 $405,000 $725,000

-5% 0% -8% 19% N/A N/A -3% -5% N/A -5% 12% -1% N/A -3% N/A -3%

8% 16% 3% 19% 8% 24% 4% 6% 29% 3% 19% 10% 8% 11% 17% 10%

81 30 36 54 8 2 36 47 6 37 40 22 10 123 19 232

$1,335,000 $665,000 $1,310,000 $545,000 $530,000 $1,700,000 $915,000 $1,540,000 $2,500,003 $1,500,000 $715,500 $910,000 $530,000 $1,110,000 $438,000 $2,150,000

SOUTH WAIRARAPA CAPE PALLISER FEATHERSTON GREYTOWN LAKE FERRY MARTINBOROUGH PIRINOA

$365,000 $370,000 $610,000 $325,000 $560,000 $320,000

N/A 3% 6% N/A 3% N/A

11% 10% 5% 16% 22% N/A

6 108 98 2 93 7

$400,000 $780,000 $1,800,000 $425,000 $2,100,000 $670,000

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

$800,000 $485,000 $655,000 $597,500 $515,000 $515,000 $550,000 $645,000 $830,000 $675,000 $1,110,000 $490,000 $905,000 $875,000 $605,000 $767,500 $680,000 $535,000 $415,000 $520,000 $550,000 $545,000 $515,000 $1,030,000

N/A 2% N/A 2% 3% 3% 5% 5% N/A N/A N/A N/A N/A N/A 1% 2% 3% N/A 4% 2% 6% N/A 4% N/A

19% 15% 15% 14% 18% 11% 17% 22% 18% 15% 21% 15% 27% 16% 12% 15% 14% 15% 4% 16% 21% 18% 17% 21%

2 50 7 39 52 47 47 34 6 12 6 19 7 3 30 43 70 18 35 65 211 7 54 13

$1,185,000 $950,000 $1,425,000 $880,000 $760,000 $854,800 $720,000 $1,383,000 $1,196,000 $970,000 $1,500,000 $760,000 $1,957,000 $1,250,000 $1,200,000 $1,170,000 $967,500 $990,000 $1,270,000 $1,200,000 $920,000 $965,000 $800,000 $1,600,000

WELLINGTON ARO VALLEY BERHAMPORE BREAKER BAY BROADMEADOWS BROOKLYN CHURTON PARK CROFTON DOWNS GLENSIDE GRENADA NORTH GRENADA VILLAGE HATAITAI HIGHBURY HOUGHTON BAY ISLAND BAY JOHNSONVILLE KAIWHARAWHARA KARAKA BAYS KARORI KELBURN KHANDALLAH KILBIRNIE KINGSTON LYALL BAY MAUPUIA MELROSE MIRAMAR

$750,000 $760,000 $995,000 $682,500 $840,000 $840,000 $800,000 $495,000 $530,000 $735,000 $925,000 $907,500 $830,000 $885,000 $655,000 $1,205,000 $1,190,000 $825,000 $1,135,000 $1,000,000 $740,000 $755,000 $810,000 $755,000 $825,000 $800,000

-1% -1% N/A -2% 0% 2% 1% N/A N/A -1% -2% N/A N/A -2% 1% N/A N/A 1% -3% 1% 0% N/A 0% N/A N/A -1%

6% 10% 6% 7% 4% 6% 11% 10% 24% 6% 3% 2% 6% 2% 6% -0% 1% 5% 1% 5% 6% 7% 6% 9% 1% 5%

38 63 6 30 92 128 25 10 16 32 93 9 15 97 191 2 9 226 40 155 57 16 49 23 7 124

$1,855,000 $1,125,000 $1,334,200 $800,000 $1,920,000 $1,350,000 $1,600,000 $650,000 $845,000 $1,100,250 $2,000,000 $1,392,500 $920,000 $2,000,000 $1,330,000 $1,100,000 $1,505,000 $2,385,000 $2,775,000 $2,240,000 $1,512,000 $950,000 $1,357,500 $1,105,000 $940,000 $1,630,000

SUB

SUB

GREATER WELLINGTON

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

102 17 94 65 3 8 23 7 12 4 8

N/A 23%

12 % C-MON HA TH NG E

14% N/A 13% 10% 1% N/A 10% N/A 6% 11% N/A

$440,000 $160,000

QU % CARTER HA NG E

3% N/A 2% 0% N/A N/A N/A N/A N/A N/A N/A

WAIROA MAHIA WAIROA

LAT MEEST $ VDIAN ALU E

$445,000 $832,500 $430,000 $430,000 $650,000 $480,000 $620,000 $820,000 $860,000 $520,000 $375,000

UR B

12 % C-MON HA TH NG E

PARKVALE PUKETAPU RAUREKA SAINT LEONARDS SHERENDEN TANGOIO TE AWANGA TWYFORD WAIMARAMA WAIPATU WHAKATU

UR B

QU % CARTER HA NG E

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

OneRoof Property Report

LAT MEEST $ VDIAN ALU E

20

MARLBOROUGH ANAKIWA & SURROUNDS BLENHEIM CENTRAL BURLEIGH FAIRHALL GROVETOWN HAVELOCK ISLINGTON KENEPURU SOUND MAHAU SOUND MARLBOROUGH SOUNDS MAYFIELD OKIWI BAY PICTON PORT UNDERWOOD RAPAURA RARANGI REDWOODTOWN RENWICK RIVERLANDS RIVERSDALE SEDDON SPRING CREEK SPRINGLANDS TENNYSON INLET TUAMARINA WAIHOPAI VALLEY WAIKAWA WAIRAU VALLEY WARD WITHERLEA

N/A 3% N/A N/A N/A 6% N/A 8% N/A N/A 3% N/A 4% N/A N/A N/A 1% 2% N/A 1% N/A N/A -2% N/A N/A N/A 4% N/A N/A -1%

9% 5% N/A N/A 1% 2% 10% 15% 15% 12% 6% 9% 7% 9% N/A -1% 8% 10% 12% 4% N/A 10% 2% 9% -5% N/A 8% 17% N/A 3%

19 166 22 7 14 48 15 59 3 7 48 12 111 5 8 17 154 74 9 34 21 10 122 16 5 3 55 14 2 149

$1,330,000 $1,460,000 $1,580,000 $1,110,000 $1,500,000 $950,000 $550,000 $2,720,000 $610,000 $720,000 $860,000 $1,075,000 $1,550,000 $566,000 $2,250,000 $1,200,000 $782,608 $2,500,000 $2,125,000 $670,000 $1,100,000 $1,050,000 $1,670,000 $675,000 $800,000 $665,000 $1,190,000 $1,040,000 $316,000 $1,380,000

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

$505,000 $660,000 $590,000 $580,000 $1,015,000 $630,000 $740,000 $682,500 $635,000 $685,000 $865,000 $535,000 $765,000 $495,000 $800,000 $550,000 $485,000 $515,000 $605,000 $680,000 $440,000 $780,000 $505,000 $475,000

0% 1% N/A N/A N/A -1% -3% N/A N/A N/A -2% N/A N/A 0% -2% 0% 1% -1% 2% N/A 0% N/A 0% -2%

4% 6% 9% 12% 7% 6% 10% -6% 9% 10% -1% -2% 8% 10% 3% 6% 4% 8% 10% 7% 13% -5% 5% 12%

23 51 9 15 20 38 4 5 16 18 14 16 19 107 20 359 87 34 71 5 70 5 35 36

$600,000 $1,565,000 $710,000 $750,000 $2,500,000 $1,038,000 $1,490,000 $1,100,000 $1,161,000 $1,190,000 $1,400,000 $909,000 $1,100,000 $1,500,000 $1,600,000 $1,257,000 $850,000 $1,050,000 $1,205,000 $805,000 $655,000 $1,350,000 $1,180,000 $719,000

TASMAN ANISEED VALLEY APPLEBY BRIGHTWATER COLLINGWOOD DOVEDALE HOPE KAHURANGINATIONALPARK KAITERITERI

$930,000 $997,500 $610,000 $467,500 $655,000 $845,000 $555,000 $970,000

-10% N/A 8% N/A N/A N/A N/A N/A

8% -14% 7% 5% -0% 22% 3% 13%

2 2 55 14 3 17 73 11

$935,000 $1,611,400 $1,800,000 $1,100,000 $715,000 $1,450,000 $1,560,000 $1,825,000

21

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

$615,000 $405,000 $685,000 $950,000 $502,500 $470,000 $400,000 $585,000 $755,000 $410,000 $370,000 $535,000 $400,000 $435,000 $902,500 $485,000 $405,000 $475,000 $850,000 $365,000 $330,000 $410,000 $515,000 $445,000 $567,500 $930,000 $575,000 $680,000 $300,000 $475,000

NELSON-TASMAN-MARLBOROUGH

LOWER MOUTERE MAHANA MAPUA MOTUEKA NGATIMOTI PARAPARA REDWOOD VALLEY RICHMOND RUBY BAY ST ARNAUD TAKAKA TAPAWERA TASMAN THORPE UPPER MOUTERE WAKEFIELD

12 % C-MON HA TH NG E

$1,030,000 $1,640,000 $2,640,000 $1,358,888 $1,530,000 $2,300,000 $1,880,000 $2,550,000 $995,000 $801,500 $945,000 $2,950,000 $2,540,000 $1,300,000 $1,305,000 $1,625,000 $2,300,000 $4,050,000 $990,000 $2,500,000 $2,550,000 $1,400,000

QU % CARTER HA NG E

13 61 56 110 66 88 48 22 19 58 13 22 50 12 45 205 223 85 11 54 81 21

LAT MEEST $ VDIAN ALU E

6% 4% 8% 6% 6% 7% 5% -1% 7% 7% 3% 7% 2% 2% 7% 6% 23% 4% 3% 0% -3% 3%

UR B

N/A 5% -3% 2% -2% 1% -0% N/A 1% -1% N/A -2% -2% N/A 2% 3% 5% 0% N/A -1% -3% N/A

$760,000 $637,500 $930,000 $640,000 $785,000 $830,000 $850,000 $1,835,000 $720,000 $655,000 $740,000 $1,100,000 $1,275,000 $835,000 $760,000 $660,000 $565,000 $705,000 $750,000 $970,000 $335,000 $775,000

SUB

12 % C-MON HA TH NG E

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

QU % CARTER HA NG E

MORNINGTON MOUNT COOK MOUNT VICTORIA NEWLANDS NEWTOWN NGAIO NORTHLAND ORIENTAL BAY OWHIRO BAY PAPARANGI RONGOTAI ROSENEATH SEATOUN SOUTHGATE STRATHMORE PARK TAWA TE ARO THORNDON VOGELTOWN WADESTOWN WELLINGTON CENTRAL WILTON

LAT MEEST $ VDIAN ALU E

UR B SUB

MO NTH

S)

OneRoof Property Report

$710,000 $970,000 $760,000 $515,000 $715,000 $640,000 $1,050,000 $620,000 $975,000 $470,000 $490,000 $397,500 $1,175,000 $685,000 $1,035,000 $650,000

N/A N/A 3% 5% N/A N/A -11% 2% N/A N/A 3% N/A N/A N/A 8% 2%

6% 11% 11% 6% -1% 8% N/A 8% N/A -13% 5% N/A 14% N/A 10% 8%

11 2 49 261 4 7 22 392 11 10 38 14 8 4 26 75

$1,250,000 $1,075,000 $1,500,000 $1,700,000 $785,000 $778,000 $2,840,000 $2,000,000 $1,500,000 $675,000 $970,000 $820,000 $1,600,000 $962,000 $2,800,000 $1,705,000

BULLER CAPE FOULWIND CARTERS BEACH KARAMEA REEFTON WAIMANGAROA WESTPORT

$410,000 $300,000 $220,000 $155,000 $270,000 $210,000

11% N/A N/A 7% N/A 11%

10% 5% 29% 19% N/A 11%

2 7 6 52 6 127

$675,000 $435,000 $480,000 $358,000 $460,000 $890,000

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

$380,000 $160,000 $300,000 $135,000 $135,000 $115,000 $290,000 $235,000 $222,500 $315,000 $480,000 $250,000 $160,000 $380,000 $115,000 $115,000 $115,000

N/A N/A N/A -4% N/A N/A N/A -2% N/A 0% N/A -5% N/A N/A -8% N/A N/A

-6% 7% 0% -4% 8% -15% 9% 4% 3% 7% N/A 28% 3% 10% -12% 5% 2%

8 15 2 39 8 14 3 88 4 24 13 N/A 8 20 30 6 5

$470,000 $315,000 $420,000 $232,000 $390,000 $169,000 $395,000 $439,000 $299,000 $800,000 $595,000 N/A $600,000 $530,000 $239,000 $420,000 $225,000

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

$372,500 $350,000 $235,000 $270,000 $245,000 $305,000 $175,000 $340,000 $130,000

N/A N/A N/A 4% N/A N/A N/A N/A N/A

6% 9% 15% 10% 20% N/A 17% 11% 18%

3 9 9 112 4 9 8 1 5

$330,000 $670,000 $600,000 $667,500 $490,000 $510,000 $232,000 $257,000 $560,000

ASHBURTON ALLENTON ASHBURTON ELGIN HAMPSTEAD METHVEN NETHERBY RAKAIA TINWALD

$370,000 $340,000 $705,000 $280,000 $392,500 $300,000 $340,000 $340,000

0% -1% N/A -2% -2% -2% 11% 1%

-1% 0% N/A 2% 2% 0% 11% 5%

213 102 11 88 59 65 45 98

$1,620,000 $1,400,000 $1,590,000 $680,000 $1,630,000 $795,000 $770,000 $1,100,000

CHRISTCHURCH ADDINGTON AIDANFIELD AKAROA ARANUI AVONDALE AVONHEAD AVONSIDE BECKENHAM BELFAST BEXLEY BIRDLINGS FLAT BISHOPDALE BROMLEY BROOMFIELD BRYNDWR BURNSIDE BURWOOD CASEBROOK CASHMERE CASS BAY CHARTERIS BAY CHRISTCHURCH CENTRAL

$355,000 $660,000 $575,000 $275,000 $365,000 $540,000 $350,000 $530,000 $415,000 $265,000 $167,500 $450,000 $335,000 $452,500 $465,000 $520,000 $410,000 $460,000 $650,000 $695,000 $540,000 $385,000

0% 0% -7% -5% 4% 0% 3% 1% -1% N/A N/A 1% N/A 2% -1% 1% 3% -5% -5% N/A N/A -3%

0% 4% -1% -7% 7% -1% 6% 0% 0% 4% -12% -1% 8% 1% -2% -2% 3% -3% -4% -4% 0% 1%

120 51 47 117 80 196 29 37 79 2 3 173 33 60 104 161 174 119 132 3 10 206

$860,000 $910,000 $1,715,000 $435,000 $510,000 $1,300,000 $530,000 $880,000 $910,000 $450,000 $325,000 $855,000 $539,000 $815,000 $1,535,000 $1,315,000 $780,000 $1,250,000 $1,550,000 $682,500 $1,400,000 $2,950,000

WEST COAST

CANTERBURY

$1,800,000 $465,000 $1,175,000 $581,000 $900,000 $875,000 $780,000 $6,825,000 $1,200,000 $3,400,000 $1,400,000 $1,145,000 $1,300,000 $1,200,000 $1,080,000 $1,437,500 $850,000 $1,580,000 $1,410,000 $780,000 $780,000 $1,900,000 $773,500 $1,150,000 $2,298,540 $865,000 $1,210,000 $4,000,000 $2,439,000 $2,400,000 $678,000 $605,000 $610,000 $2,650,000 $1,075,000 $1,200,000 $1,400,000 $484,000 $2,400,000 $775,000 $2,575,000 $1,200,000 $750,000 $700,000 $705,000 $1,880,000 $890,000 $1,020,000 $1,110,000 $840,000 $650,000 $755,000 $690,000 $695,000 $3,525,000 $1,360,000 $2,500,000 $1,250,000 $1,800,000 $1,870,000 $1,500,000 $1,080,000 $485,000 $1,200,000 $600,000 $1,382,500 $820,000 $640,000 $2,750,000

HURUNUI AMBERLEY BALCAIRN CHEVIOT HANMER SPRINGS HAWARDEN LEITHFIELD WAIPARA

$435,000 $655,000 $270,000 $485,000 $260,000 $375,000 $575,000

-1% N/A 23% -1% N/A -4% N/A

0% -3% N/A 4% N/A N/A N/A

88 5 20 62 12 44 10

$1,210,000 $1,020,000 $630,000 $1,290,000 $695,000 $875,000 $750,000

KAIKOURA KAIKOURA

$480,000

8%

9%

62

$710,000

MACKENZIE BUNNYTHORPE FAIRLIE LAKE TEKAPO LONGBURN OMARAMA OTEMATATA TWIZEL

$545,000 $380,000 $992,500 $380,000 $420,000 $345,000 $460,000

N/A 1% N/A N/A N/A N/A 0%

N/A 13% N/A 10% 15% 11% 10%

34 39 26 13 13 21 84

$980,000 $948,600 $1,748,000 $1,375,000 $1,600,000 $510,000 $920,000

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

SELWYN BURNHAM DARFIELD DOYLESTON DUNSANDEL GLENTUNNEL HORORATA KIRWEE LAKE COLERIDGE LEESTON LINCOLN PREBBLETON ROLLESTON SOUTHBRIDGE SPRINGSTON TAI TAPU WEST MELTON WINDWHISTLE

$730,000 $540,000 $450,000 $485,000 $345,000 $390,000 $670,000 $285,000 $460,000 $635,000 $745,000 $555,000 $385,000 $640,000 $700,000 $837,500 $625,000

N/A -4% N/A N/A N/A N/A N/A N/A 1% -1% -4% 2% -1% N/A N/A -2% N/A

N/A 1% 1% -2% 19% 7% 3% 18% -1% 4% 2% 0% 1% N/A N/A -3% 11%

13 87 10 13 20 17 25 2 83 261 108 633 31 36 12 96 5

$1,350,000 $1,350,000 $965,000 $1,250,000 $475,000 $817,500 $1,250,000 $320,000 $1,275,000 $1,850,000 $1,750,000 $1,325,000 $840,000 $1,550,000 $1,610,000 $1,640,000 $640,000

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

$695,000 $415,000 $500,000 $395,000 $1,070,000 $410,000 $305,000 $600,000 $400,000 $340,000 $440,000 $310,000 $365,000 $260,000 $795,000 $310,000 $315,000 $335,000 $360,000 $315,000 $335,000

N/A 0% 2% 5% N/A 3% 2% N/A 3% 1% N/A 2% 6% N/A 1% 3% -3% 2% N/A 3% 2%

9% 2% 4% 4% 3% 4% 9% 3% 5% 1% 2% 3% 3% 2% 9% 2% 3% 0% 10% 5% 5%

9 115 76 65 2 106 35 11 24 109 7 43 34 4 1 51 105 46 6 42 83

$1,100,000 $1,400,000 $1,380,000 $585,000 $1,458,000 $888,000 $640,000 $850,000 $615,000 $1,015,000 $645,000 $427,500 $680,000 $300,000 $1,100,000 $635,000 $760,000 $851,000 $750,000 $506,000 $643,000

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

$705,000 $525,000 $970,000 $725,000 $820,000 $440,000 $725,000 $950,000 $695,000 $475,000 $500,000 $455,000 $725,000 $820,000 $545,000 $710,000 $375,000 $680,000 $455,000

N/A N/A N/A N/A N/A -2% -6% 6% N/A 2% 0% 2% N/A 4% N/A N/A 0% N/A 1%

3% N/A 1% 5% 1% 0% 4% 1% -2% 8% 3% 5% 5% 4% 7% -1% -1% 1% 1%

8 5 8 16 16 287 30 39 4 65 107 559 19 44 11 7 19 24 116

$780,000 $2,252,500 $1,300,000 $1,300,000 $1,450,000 $1,000,000 $1,290,000 $1,750,000 $650,000 $984,722 $1,150,000 $1,800,000 $1,013,000 $1,200,000 $1,000,000 $741,000 $640,000 $920,000 $875,000

WAIMATE GLENAVY OTAIO WAIMATE

$225,000 $397,500 $270,000

N/A N/A 6%

5% -5% 15%

7 2 124

$285,000 $300,000 $680,000

WAITAKI DEBORAH ENFIELD & SURROUNDS FIVE FORKS & SURROUNDS HERBERT KAKANUI KUROW MAHENO OAMARU PALMERSTON WESTON

$505,000 $540,000 $485,000 $365,000 $355,000 $275,000 $277,500 $310,000 $235,000 $420,000

N/A -9% N/A N/A N/A N/A 4% 3% -2% N/A

6% 5% 21% 4% 4% 15% 9% 9% 12% 5%

3 4 4 6 22 16 1 384 36 33

$760,000 $975,000 $900,000 $570,000 $700,000 $700,000 $190,000 $1,000,000 $650,000 $1,150,000

GORE GORE GORE SURROUNDS MATAURA

$260,000 $220,000 $130,000

-4% 7% 8%

2% -2% 8%

198 80 52

$850,000 $1,245,000 $530,000

INVERCARGILL APPLEBY ASCOT AVENAL

$185,000 $415,000 $305,000

6% N/A 2%

16% 8% 13%

113 3 40

$336,000 $751,000 $695,000

UR B

12 % C-MON HA TH NG E

19 2 12 38 30 6 107 95 19 427 39 53 76 74 53 172 162 47 141 28 9 13 207 15 66 155 83 118 17 77 174 107 50 110 35 137 234 80 58 182 140 121 3 4 50 333 77 109 87 167 54 25 12 181 90 5 58 138 13 51 82 16 50 13 75 50 134 247 37

SUB

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

12 % C-MON HA TH NG E 0% -15% -1% 3% 2% 5% 0% -1% 14% -1% 5% 2% 1% 1% 3% -2% -1% 8% 2% -3% 5% 0% 2% N/A -11% -1% 1% -2% 0% 3% 2% 1% -3% 0% 0% 0% 1% -3% 1% -1% 0% 3% -6% 13% -2% 0% 1% -3% -1% -3% 1% 2% 10% -1% -1% N/A 1% -1% 9% -2% 0% -2% 2% 5% 0% -0% 1% 8% -7%

QU % CARTER HA NG E

N/A N/A N/A 3% -3% N/A -1% 0% 12% 1% 4% 0% 5% 0% -2% 0% 3% -2% -1% 3% N/A N/A -2% N/A -4% 0% -2% -4% N/A -1% 0% 1% 0% -1% -2% -1% 1% 0% -1% 0% -2% 1% N/A N/A -1% 1% -2% 1% 1% 0% 0% N/A N/A 1% 0% N/A -5% -1% N/A 2% 0% -2% 5% N/A 0% 0% 2% 1% 2%

LAT MEEST $ VDIAN ALU E

$700,000 $465,000 $495,000 $385,000 $485,000 $435,000 $345,000 $985,000 $700,000 $525,000 $652,500 $485,000 $385,000 $445,000 $465,000 $410,000 $395,000 $685,000 $620,000 $380,000 $325,000 $1,100,000 $310,000 $392,500 $450,000 $410,000 $640,000 $800,000 $640,000 $680,000 $330,000 $360,000 $375,000 $662,500 $495,000 $460,000 $460,000 $285,000 $655,000 $435,000 $430,000 $360,000 $740,000 $545,000 $470,000 $500,000 $445,000 $390,000 $425,000 $460,000 $370,000 $435,000 $507,500 $415,000 $745,000 $845,000 $610,000 $365,000 $495,000 $440,000 $455,000 $630,000 $330,000 $460,000 $325,000 $710,000 $605,000 $340,000 $565,000

QU % CARTER HA NG E

SUB CLIFTON CORSAIR BAY CRACROFT DALLINGTON DIAMOND HARBOUR DUVAUCHELLE EDGEWARE FENDALTON GOVERNORS BAY HALSWELL HAREWOOD HEATHCOTE VALLEY HEI HEI HILLMORTON HILLSBOROUGH HOON HAY HORNBY HUNTSBURY ILAM ISLINGTON KAINGA KENNEDYS BUSH LINWOOD LITTLE RIVER LYTTELTON MAIREHAU MARSHLAND MERIVALE MONCKS BAY MOUNT PLEASANT NEW BRIGHTON NORTH NEW BRIGHTON NORTHCOTE NORTHWOOD OPAWA PAPANUI PARKLANDS PHILLIPSTOWN REDCLIFFS REDWOOD RICCARTON RICHMOND RICHMOND HILL ROBINSONS BAY RUSSLEY SAINT ALBANS SAINT MARTINS SHIRLEY SOCKBURN SOMERFIELD SOUTH NEW BRIGHTON SOUTHSHORE SPENCERVILLE SPREYDON STROWAN STYX SUMNER SYDENHAM TAKAMATUA TEMPLETON UPPER RICCARTON WAIMAIRI BEACH WAINONI WAINUI WALTHAM WESTMORLAND WIGRAM WOOLSTON YALDHURST

LAT MEEST $ VDIAN ALU E

OneRoof Property Report

UR B

22

SOUTHLAND

QUEENSTOWN ALBERT TOWN ARROWTOWN ARTHURS POINT CLOSEBURN DALEFIELD/WAKATIPUBASIN FERNHILL/SUNSHINE BAY FRANKTON GIBBSTON HAWEA FLAT JACKS POINT KELVIN HEIGHTS KINGSTON LAKE HAWEA LOWER SHOTOVER LUGGATE MAKARORA QUEENSTOWN WANAKA

$810,000 $1,070,000 $1,035,000 $2,477,500 $1,015,000 $830,000 $925,000 $1,905,000 $1,140,000 $1,270,000 $1,620,000 $555,000 $735,000 $995,000 $640,000 $287,500 $985,000 $1,035,000

-5% -4% N/A N/A -3% 1% 3% N/A N/A -7% -1% N/A 1% -3% 4% N/A 4% -8%

7% 8% 0% 4% 2% 2% 3% 6% 32% -2% 6% 3% 7% 5% 9% 11% 4% 6%

50 71 21 1 55 59 45 3 4 53 27 9 34 74 22 1 120 225

$2,608,600 $4,800,000 $4,350,000 $620,000 $6,300,000 $3,630,000 $2,000,000 $2,194,000 $1,551,000 $2,400,000 $7,910,000 $920,000 $1,395,000 $2,600,000 $1,175,000 $670,000 $5,450,000 $6,800,000

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

$362,500 $190,000 $190,000 $257,500 $515,000 $395,000 $195,000 $245,000 $380,000 $670,000 $500,000 $470,000 $145,000 $212,500 $270,000 $345,000 $530,000 $337,500 $185,000

N/A N/A N/A N/A N/A 13% 10% N/A 10% N/A N/A 2% N/A N/A N/A 11% 5% N/A N/A

-25% -5% 12% 45% 11% 17% 26% N/A 15% 16% 18% 13% 7% 15% 17% 23% 12% 17% 54%

9 13 18 2 17 23 22 19 70 3 8 91 19 8 18 86 30 4 12

$610,000 $630,000 $325,000 $680,000 $825,000 $900,000 $525,000 $895,000 $625,000 $485,000 $480,000 $860,000 $210,000 $300,000 $705,000 $1,100,000 $1,050,000 $475,000 $265,000

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

$260,000 $130,000 $140,000 $315,000 $220,000 $255,000 $155,000 $307,500 $185,000 $422,500 $110,000

11% N/A 12% 15% N/A 11% N/A N/A -5% N/A N/A

18% N/A 8% 9% 5% 34% N/A 23% 9% 31% 29%

121 19 18 21 23 70 16 14 26 15 4

$715,000 $922,000 $350,000 $915,000 $420,000 $866,000 $360,000 $775,000 $655,000 $550,000 $195,000

DUNEDIN ABBOTSFORD ALLANTON ANDERSONS BAY BALACLAVA BELLEKNOWES BLACKHEAD

$440,000 $505,000 $495,000 $442,500 $552,500 $910,000

11% N/A 4% N/A 3% N/A

26% 20% 15% 16% 12% 20%

42 6 57 17 47 1

$750,000 $675,000 $795,000 $915,000 $1,110,000 $870,000

UR B SUB

OTAGO

23

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

$375,000 $325,000 $391,000 $920,000 $615,000 $517,000 $522,000 $460,000 $425,000 $520,000 $249,000 $520,000 $1,067,000 $865,000 $875,000 $510,000 $950,000 $630,000 $595,000 $870,000 $360,000 $445,000 $333,150 $870,000 $638,888 $675,000 $770,000

12 % C-MON HA TH NG E

62 29 89 92 127 119 29 46 77 11 23 60 13 7 22 52 85 103 26 19 189 6 20 88 62 13 141

QU % CARTER HA NG E

11% 15% 25% 13% 17% 21% 16% 13% 21% 29% 15% 18% 16% 9% 8% 24% 9% 15% 20% 13% 18% 13% 26% 23% 9% 16% 19%

LAT MEEST $ VDIAN ALU E

12 % C-MON HA TH NG E

17% 3% 5% -1% 2% 4% 0% 0% 2% N/A N/A 5% N/A N/A -6% 4% 0% 7% 2% -3% 5% N/A N/A 6% -1% N/A 1%

UR B

QU % CARTER HA NG E

$205,000 $195,000 $225,000 $430,000 $270,000 $285,000 $335,000 $310,000 $230,000 $315,000 $195,000 $230,000 $477,500 $665,000 $660,000 $285,000 $407,500 $305,000 $250,000 $465,000 $225,000 $362,500 $240,000 $370,000 $350,000 $545,000 $375,000

SUB

LAT MEEST $ VDIAN ALU E

BLUFF CLIFTON GEORGETOWN GLADSTONE GLENGARRY GRASMERE HARGEST HAWTHORNDALE HEIDELBERG INVERCARGILL KEW KINGSWELL LORNEVILLE MILL ROAD MYROSSBUSH NEWFIELD OTATARA RICHMOND ROCKDALE ROSEDALE STRATHERN TISBURY TURNBULLTHOMSON PARK WAIKIWI WAVERLEY WEST PLAINS WINDSOR

S)

MO NTH

TOT NU AL OF MBER (LASALES MOST 12 NTH S) BIG SINGEST (LA GLE S MOST 12 ALE NTH S)

OneRoof Property Report

BRADFORD BRIGHTON BROAD BAY BROCKVILLE BURNSIDE CALTON HILL CAREYS BAY CAVERSHAM CHAIN HILLS CLYDE HILL COMPANY BAY CONCORD CORSTORPHINE DALMORE DUNEDIN CENTRAL EAST TAIERI FAIRFIELD FORBURY GLENLEITH GLENROSS GREEN ISLAND HALFWAY BUSH HARWOOD HELENSBURGH HIGHCLIFF KAIKORAI KARITANE KENMURE KEW LIBERTON LOOKOUT POINT MACANDREW BAY MAIA MAORI HILL MARYHILL MORNINGTON MOSGIEL MOUNT CARGILL MUSSELBURGH NORMANBY NORTH DUNEDIN NORTH EAST VALLEY NORTH TAIERI OCEANGROVE OCEAN VIEW OPOHO OUTRAM PINE HILL PORT CHALMERS PORTOBELLO PURAKAUNUI INLET RAVENSBOURNE ROSENEATH ROSLYN SADDLE HILL SAINT CLAIR SAINT KILDA SAINT LEONARDS SAWYERS BAY SCROGGS HILL SHIEL HILL SOUTH DUNEDIN TAINUI THE COVE THE GLEN VAUXHALL WAIKOUAITI WAITATI WAKARI WALDRONVILLE WARRINGTON WAVERLEY WESTWOOD WOODHAUGH

$405,000 $465,000 $487,500 $355,000 $400,000 $330,000 $402,500 $325,000 $785,000 $340,000 $635,000 $420,000 $370,000 $375,000 $495,000 $685,000 $510,000 $345,000 $515,000 $487,500 $420,000 $415,000 $365,000 $480,000 $632,500 $410,000 $395,000 $450,000 $475,000 $340,000 $285,000 $535,000 $460,000 $700,000 $455,000 $425,000 $470,000 $742,500 $465,000 $400,000 $565,000 $385,000 $1,055,000 $400,000 $450,000 $495,000 $515,000 $465,000 $395,000 $487,500 $330,000 $370,000 $455,000 $620,000 $890,000 $565,000 $380,000 $490,000 $400,000 $785,000 $530,000 $300,000 $455,000 $695,000 $340,000 $650,000 $305,000 $430,000 $430,000 $485,000 $382,500 $550,000 $457,500 $385,000

11% N/A N/A 9% 9% 10% N/A 10% N/A N/A N/A N/A 16% N/A 6% N/A 0% 13% N/A N/A 9% 11% N/A N/A N/A 8% 18% 7% 7% N/A N/A -2% N/A 3% N/A 6% 3% N/A 6% N/A -1% 7% N/A N/A N/A N/A N/A N/A 7% N/A N/A 10% N/A 2% N/A 3% 9% N/A N/A N/A N/A 13% 7% N/A N/A N/A 3% N/A 10% 5% N/A -0% 7% N/A

21% 21% 17% 13% 11% 18% 24% 18% 12% 21% 15% 15% 21% 15% 19% 10% 9% 23% 14% 15% 22% 17% 26% 13% N/A 19% 34% 14% 19% 19% 8% 9% 20% 11% 17% 20% 15% 13% 19% 19% 19% 15% 8% 23% 18% 11% 20% 18% 25% 17% 32% 12% 11% 15% 20% 15% 21% 18% 14% 22% 10% 25% 20% 15% 15% 16% 9% 6% 19% 14% 18% 15% 10% 17%

28 21 7 29 N/A 44 7 58 5 15 8 23 29 9 92 10 51 41 12 9 83 50 2 19 7 45 23 43 26 10 6 25 5 57 26 63 390 7 34 14 37 86 10 10 11 19 21 10 26 9 3 29 5 37 N/A 80 139 11 15 1 24 107 34 6 11 12 49 9 43 22 11 56 2 6

$1,250,000 $840,000 $751,000 $650,000 N/A $720,000 $576,440 $550,000 $850,000 $465,000 $800,000 $517,500 $818,000 $465,000 $980,000 $1,426,000 $1,210,000 $610,000 $790,550 $614,000 $850,000 $820,000 $380,000 $1,625,000 $794,000 $727,000 $1,440,000 $785,000 $1,100,000 $555,000 $361,000 $1,210,000 $622,000 $1,205,000 $831,000 $796,500 $1,440,000 $880,000 $1,200,000 $550,000 $1,050,000 $710,000 $1,300,000 $705,000 $740,000 $825,000 $800,000 $650,500 $489,000 $660,000 $425,000 $600,000 $535,000 $1,000,000 N/A $1,426,000 $730,000 $915,000 $815,000 $850,000 $710,000 $621,500 $723,000 $780,000 $475,000 $900,000 $645,000 $891,500 $850,000 $830,000 $488,000 $1,105,000 $467,000 $585,000

OTAGO ALEXANDRA BANNOCKBURN CLYDE CROMWELL ETTRICK NASEBY QUEENSBERRY RANFURLY ROXBURGH WESTLAND SURROUNDS

$520,000 $695,000 $570,000 $630,000 $280,000 $280,000 $1,110,000 $225,000 $285,000 $895,000

3% N/A 7% 7% N/A N/A 6% 0% 2% N/A

12% 8% 11% 5% 37% 4% N/A 0% 4% N/A

210 8 50 228 4 16 3 35 28 6

$1,650,000 $1,825,000 $1,125,000 $2,510,000 $290,000 $450,000 $1,195,000 $380,000 $570,000 $711,000

24

OneRoof Property Report

BARFOOT & THOMPSON SPONSORED CONTENT

How to get ahead in the apartment market Forget shoebox living: the Auckland apartment market is all about quality - and buyers are driving the changes.

B

arfoot & Thompson projects manager Matt Baird has seen the quality of apartments getting better and better over the past 20 years.

Good enough to get Aucklanders, both first home buyers and baby boomers rightsizing from the family home, into catching up with other global cities in adopting apartment living.

“The market is demanding quality,” says Baird. “At the high end, that’s amenities like cinema rooms, roof terraces, gyms and business centres.

“At the first home buyer end, it’s giving options around shifting from car parking to things like electric bikes and scooters.”

With inner city land becoming increasingly rare, Baird says developments are moving to the city fringe. For affordable first homes, this is generally around transit hubs.

New apartment developments will also often spur the arrival of amenities .

Developers look at the success of the New Lynn town centre regeneration, where cafes and shops sprang up around the Merchant Quarter, and hope to replicate that in suburbs like Avondale, which is rejuvenating around the train station, Waterview or Glen Eden.

Closer to the city, apartment projects are in planning around Grafton and Eden Tce, spurred by the anticipated release of more than 100,000 sq m for the mixed-use precinct around the new CRL Mt Eden station.

Further south, projects like McLennan, in Takanini, which includes Kiwibuild properties, and Belmont, in Pukekohe, are shifting buyers to smaller houses to increase affordability.

“We’ve sold 52 houses in 12 weeks at McLennan. The further from the city centre, the less demand there is for apartments and terraces,” says Baird.

Baird sees a growing demand for buyers willing to sacrifice space for affordable high density living, close to the city and amenities. Once buyers see finished homes, it becomes easier for them to understand the benefits of low-maintenance apartments.

Baird says that the important number is $650,000, the cut-off for government and KiwiSaver loans, but he’s recently seen success marketing onebedroom chalets from $420,000.

At the upper end of the scale, Barfoot & Thompson is marketing projects like 30 Madden at Wynyard Quarter.

The company has sold $25m of stock in the past six weeks,

New homes, new style of living: The apartment development at 30 Madden, Wynyard Quarter, Auckland.

Baird says, as the high end market experiences a bounce much like that of Sydney and Melbourne.

With fewer opportunities for developments around the Grey Lynn ridge, buyers are moving out to Morningside and Kingsland.

In the eastern suburbs and bays, because the cost of land is so high, apartments are highend and as large as a single family house. On the North Shore, demand is high for sea views and amenities in

apartments from Takapuna, Milford and up the bays.

Further inland, buyers are more interested in the more familiar town house.

How to buy an apartment off the plan 1. Do your research into the developer: Look at other projects they’ve done, how well they’ve aged.

2. Understand the plan and what you’re getting: Not every permutation of floor plan will be on view at project show

rooms, so you need to understand the exact dimensions of the apartment.

Showrooms may have different finishes or upgrades from the one you’re looking at, so be clear what your finishes will be.

3. Understand the neighbourhood: When the apartments are still holes in the ground, it is hard to see how your new neighbourhood will change. Go online, look at council and local websites to see what new transport, shopping, parks or schools are in the

pipeline (and how far off they are).

4. Get professional advice: No matter how well-known the brands are, you still need to get all the contract documents seen by your conveyancer, lawyer and bank so you understand what you’re getting, what the payment schedule is and so on.

5. And check out the developer, again: Baird says knowing the developer (and builder and team) is the number one, two and three priority for any new apartment buyer.

OneRoof Property Report

25

COMMENT

Ashley Church

I

t’s a brave man or woman who claims to have enough insight into the New Zealand property market to make predictions on what’s going to happen in the year ahead.

Market conditions and circumstances can change quickly — and what appeared to be a reasonable assumption at one time can be turned on its head overnight. That said, I have some thoughts on the year ahead.

I see 2020 as being a repeat of 2019 — with continuing flat house prices, in Auckland, continuing high immigration, continuing pressure on rents and the recognition that the socalled housing shortage has been significantly over stated.

But I do see one big change coming — a change of Government toward the end of 2020. This will lead to some significant changes to housing policy in 2021 and beyond – and while there’s still a lot of water to pass under the bridge prior to the election, I’m happy to go on record with my view that the “preferred Prime Minister” ratings are a red herring and that the next election is Nationals to lose.

So here are my predictions:

I’m not buying into talk about house prices going through the roof again My big bet is that National will be back in charge of housing policy at the end of next year.

1. Auckland’s median house price will stay flat What a difference a year makes!

At the beginning of 2019 many commentators were predicting a market crash. It didn’t happen. Now, following a seasonal lift in prices in Auckland, some commentators are predicting that the Auckland property market is about to take off again. That won’t happen either — at least, not yet. 2020 will be another year of flat house prices in Auckland. The median house price for the region will continue to see-saw between small increases and small decreases throughout the year, with a few exceptions.

2. The stats will confirm that regional housing markets have peaked and are now trending down Picking when a market peaks is notoriously difficult. We now know that the Auckland housing market peaked in 2016 — but this wasn’t actually confirmed until well into 2017.

On this basis, and despite a burst of activity as I write this, we can expect mid-year sales stats to show that most regions were at, or close to, their peak in

Peace of mind starts with being able to talk with an advisor who is across the premium central locations of Parnell and Remuera, to Herne Bay and St Marys Bay.

2019 and are now trending downward. This is consistent with previous cycles, where regional booms and flat periods have lagged behind Auckland by two or three years.

3. The cost of renting will continue to rise As was the case in 2018 and 2019, the ongoing effects of the Government’s housing policies

housing.

5. Mortgage interest rates will stay low With inflation low, dark clouds gathering on the international economy, and the Coalition killing business confidence, it’s difficult to see anything driving interest rates back up in the medium term. Conversely, with the Official Cash Rate at

“It’s difficult to see anything driving interest rates back up in the medium term.” will continue to put pressure on rents. We’re in for another year of bigger than average increases, which will significantly exceed the average increase of $12 per week in the decade between 2008 and 2017.

historically low levels the Reserve Bank doesn’t have much more room to influence rates even further down, so expect fixed mortgage interest rates to settle in the 3s and remain there throughout 2020.

4. High levels of immigration will continue to put pressure on housing Annual net immigration continues to ease, dropping to around 50,000 in 2018 from an historic high of 72,400 in the year to July 2017. But it is still extremely high by historic standards. This easing will continue in 2020 , putting further pressure on demand for both owner-occupied and rental

6. What housing shortage?

The general belief is that we have a shortage of housing, but this will break down in 2020. A continuing increase in residential housing construction and access to better and more accurate information will show that claims of a shortage of up to 100,000 homes were more political than real.

More up-to-date reports will show that any market housing

shortage is much smaller – and may not even exist.

7. National will be back in charge of housing by Christmas 2020 It’s becoming increasingly difficult to see any scenario under which the Coalition Government could secure a second term. All it would take to see a change of Government would be National achieving more than 47 per cent of the popular vote (and picking up the rest through support from ACT as well as getting its share of the reallocated ‘wasted vote’), a new centre-right party making it into parliament, or either of the Greens or New Zealand First not making it back. Only one of these needs to take place — and, frankly, at least two of the three are looking highly likely.

For these reasons, we’ll see a change of government this time next year – leading to another big shake up in the country’s housing policy (and everything else).

- Ashley Church is the former CEO of the Property Institute of New Zealand and is now a property commentator for OneRoof.co.nz.

Email him at ashley@nzemail.com

For Sale: Unit 701, 8 Hereford Street, Freemans Bay

Whether you are planning to sell, or buy into a new lifestyle, call me today to discuss the best options and way forward.

For Sale: 30 Vine Street, Saint Marys Bay

PENE MILNE

+ 64 21 919 940 • pene.milne@nzsir.com nzsothebysrealty.com

Each Franchise is Independently Owned and Operated.

Browns Real Estate Limited (licensed under the REAA 2008) MREINZ.

26

OneRoof Property Report

OneRoof Property Report

27

28

OneRoof Property Report

IN YOUR NEIGHBOURHOOD MANGERE BRIDGE

BRIDGE TO YOUR HEART Prices in Mangere Bridge are still reasonably affordable, and new families are joining the community, having realized how relatively central it is – especially since the opening of the Waterview Tunnel, writes LOUISE RICHARDSON.

I

n Mangere Bridge there are signs of Maori settlement dating back 800 years. Early explorers appreciated the rich volcanic soil, abundant springs, and nearby fishing grounds.

The mountain became a fortified Maori Pa and traces of early Maori villages can still be seen. Some of the first European settlers to the area established churches and a school and, eventually, a rail link to nearby Onehunga.

The first Mangere Bridge was built from timber and opened in 1875, but it was narrow and

unstable and only lasted about 40 years. Various other versions have served since then until the last section of today’s bridge opened 10 years ago.

It was designed to handle a potential rail link, running underneath it to the airport.

Mangere Bridge was largely a peaceful, sleepy suburb with a number of dairy farms and Chinese market gardens until the 1960s.

Large areas of Mangere itself had earlier been developed for state housing, while most residential housing in Mangere

$945K

Current median property value

0%

Quarterly change

2%

12-month change

42.1%

Change since 2014

$1.81m Biggest sale of last 12 months

Bridge was built between 1970 and 1979 What’s to love?

People in Mangere Bridge have

a strong sense of community. Te Puea Marae is at the heart of it all, with their well-known commitment to helping homeless people find shelter.

Be property prepared

Along with state houses and brick and tile properties, are some beautiful old bungalows and villas, dating from the days when local farmers and orchardists produced milk and produce for Auckland city.

Waterlea, a stately residence dating back to the 1880s was home to New Zealand Prime Minister David Lange until his death in 2005.

Ambury Regional Park is a fully-working local farm with sheep, cattle and horse-riding for the disabled. Its harbourside are a habitat for shorebirds.

In the Mangere Bridge village, the well-established shopping centre boasts a number of cute eateries such as Ruby Red and Lucky Cafe, regular gathering places for locals.

Find properties you can afford on OneRoof Search for properties based on your household income and filter the results to find the ones you can afford. OneRoof equips you with all the information you need to settle on the right property.

Start your search for properties you can afford at OneRoof.co.nz

OneRoof Property Report

29

YOU MAY LIKE MANGERE BRIDGE 58 Kiwi Esplanade 3 2 1 A choice of three sections down by the water front - one of which is 436sqm and comes with a 1980s three-bed house. The two other sections are bare and offer 401sqm on which to build a new property.

Sale: Price by negotiation Contact: Steve Stone, Ray White, 021 966 499; Lisa Stone, 021 504 674

There are lots of local walks, including those in Otuataua stonefields historic reserve, where remnants of native vegetation can still be found, along with native birds and skink. Mangere Mountain is also a great place for a stroll.

Buying and selling OneRoof data shows Mangere Bridge property values have held well in the past year, with the median value up 2 per cent year to $945,000, although growth has levelled off in the last quarter. Notably, Mangere Bridge’s median property value is $70,000 above that of Onehunga’s, a suburb over the water that’s closer to the city and is on the main rail line (although the higher percentage of lower grade stock in

Onehunga will be factor in this).

New transport infrastructure — flagged by Auckland Council — could see property values in Mangere Bridge increase substantially.

Jared Hards, from Ray White, has been selling property in the Mangere Bridge area for many years and says it’s a hidden gem loved by its residents, yet many Aucklanders are barely aware of its existence.

“Because it’s a little peninsula and isn’t a thoroughfare to other places, they may have no need to ever go there.”

He says that the market was stagnant for a while, but since the beginning of spring it has become extremely buoyant, with some phenomenal results.

“Buyer inquiries are up and prices are too, with a couple of high-quality waterfront properties fetching over $2m each.

“On the northern side of the

No one sells more properties in the bridge than us!

Your local Mangere Bridge specialists

Jared Hards & Shaan Joshi M 021 865 325 E jared.hards@raywhite.com W jaredhards.co.nz

M 021 612 120 E shaan.joshi@raywhite.com

Ray White Mangere Bridge | A T Realty Limited Licensed (REAA 2008)

suburb you’re looking in the $900,000 to early millions and on the southern there’s nothing below $750,000.”

Hards notes that around 8 out of 10 Mangere Bridge

properties are sold to people who already own properties in the suburb. There are multiple generations who have lived there all their lives.

“It’s one of the closest communities I’ve ever seen and everybody knows each other’s name.”

He says that under Auckland’s Unitary Plan, there is potential for development in Mangere Bridge.

“Previously you had to have a 1200sq m section if you wanted to subdivide, but it’s easier now.

“Having said that, developers did come in and build some town houses but they weren’t hugely successful, because most residents here want large sections for their children to play on.”

30

OneRoof Property Report

IN YOUR NEIGHBOURHOOD POINT CHEVALIER

MORE TO THE POINT Properties are so tightly held in Point Chevalier, it can be difficult getting a foothold in the suburb. But once you’re there, chances are you’ll never want to move again, writes LOUISE RICHARDSON.

N

ot surprisingly, given its handy location in relation to the harbour and Meola Reef, early Point Chevalier was the site of small Maori fishing settlements before the arrival of European settlers in the 1840s.

The area was important to the colonial population in the 1850s and 60s because Great North Rd was then the main route out of town.

But as other roads opened Point Chevalier (named after Captain George Robert Chevalier, a musketry instructor), went back to being a

mainly rural area and a seaside resort, popular with city dwellers for day trips.

That was not to change until the period between the two great wars of the 20th Century, when significant residential development began.

As other beaches became more accessible, the ‘seaside town’ atmosphere in Point Chevalier faded away.

Recently the suburb has been rediscovered by Californian bungalow and art deco enthusiasts who have tapped into a rich vein, with plenty of houses — most of which were

attractions, Point Chevalier is handy to the city and motorway, yet many of its streets are quiet and peaceful.

The beach was re-sanded in 2008 and is enjoying renewed popularity. Locals undertake a variety of watersports and properties with easy beach access, such as those in St Michaels Ave, sell for sizable sums.

$1.39m

Current median property value

0%

Quarterly change

-2%

12-month change

35.4%

Change since 2014

$3.55m Biggest sale of last 12 months

built between 1920 and 1929 — still ripe for renovation.

Many of these house hunters have been priced out of nearby hot spots such as Grey Lynn

Serious about buying or selling property in Devonport to Milford?

Talk to an expert!

and Ponsonby and have come to appreciate the larger sections that are typical in Point Chevalier.

Among many other

Who lives here and what do they do?

Point Chevalier has some very good schools with a strong community focus, so the suburb is popular with young families, many of whom buy old bungalows and renovate them as finances allow.

Sixty-three per cent of locals describe themselves as

If you are after an exceptional result you need only to look at Victoria’s performance of over six hundred million dollars of successful sales on the Shore.

A specialist top-end agent with international award winning marketing and record breaking sales in her specialist areas.

Talk to Bayleys Top Agent on the North Shore and National Top Achiever for fifteen years.

Victoria Bidwell Residential and Waterfront Specialist 021 947 080 victoria.bidwell@bayleys.co.nz BAYLEYS REAL ESTATE LTD, DEVONPORT LICENSED UNDER THE REA ACT 2008

OneRoof Property Report

31

YOU MAY LIKE POINT CHEVALIER 25 Harbour View Road 4 2 1 Family home that’s as much about the outside spaces as the inside spaces. It has an expansive, covered deck and heated pool and is across the road from Pt Chevalier beach.

Sale: Price by negotiation Contact: Jennifer Temm Munns, UP, 027 222 1555; David Simons, 021 277 7579

professionals , while 40 per cent of households have incomes in excess of $100,000.

What’s to love?

Residents will tell you there’s lots to love. Auckland Zoo and the Museum of Transport and technology (Motat) are both big drawcards, as are the parks, including Western Springs Park.

Locals enjoy walking around Meola Reef (Te Tokaroa) a peninsula formed by ancient lava flows, while swimming, windsurfing, kitesurfing and sailing are other popular activities.

Cafe culture took a while to arrive in Point Chevalier but it’s well-eastablished now and most residents have their favourite.

While the suburb’s shops in

general still have potential for improvement, St Lukes is just a short drive away, as are Ponsonby and Grey Lynn.

Public transport to and from Auckland CBD is excellent and many locals make use of the cycle path that runs alongside the motorway.

Decile 10 Point Chevalier School, St Francis School and Western Springs College all enjoy good reputations and the latter has recently had an $80m rebuild.

Buying and selling OneRoof data shows value growth slid 2 per cent in the past 12 months, in line with the rest of Auckland, although a pick-up in market activity appears to have halted any downturn. The curent median

value sits at $1,395,000, just $5000 above Grey Lynn next door. Both suburbs are still more affordable than neighbouring Westmere ($1.6m); Ponsonby ($1.61m);

and Herne Bay ($2.43m).

Professionals agent Derek von Sturmer says that although 2019 has been the agency’s best year for sales, there is a dearth of listings. That’s partly because

properties are tightly held and homeowners generally only ever move within the suburb.

He says he and the team need another 20 or 30 houses urgently, ideally each with four bedrooms and two bathrooms.

“Because this is such a family-oriented neighbourhood, most buyers are also looking for full sections where their children can play safely.”

Von Sturmer says that Point Chevalier has essentially flown under the radar for the past 15 years, but this is changing.

“It’s on a peninsula so people come into the suburb for a reason, rather than driving through it. The residents here all know each other so well, it’s practically like a small town,” he says.

GET THE PROFESSIONAL ADVANTAGE

Our team creates competition to secure you the best price.

Our agents share commission, putting your interests first.

We have a loyal following and clients for life - more than 80% of our business is repeat and referral.

TEAMWORK AT ITS BEST. 0800 735 546 | TEAM@SELLREALESTATE.NZ | WWW.SELLREALESTATE.NZ Sell Real Estate Ltd Licensed REAA 2008

32

OneRoof Property Report