Hawke's Bay Property Investors' Association

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28-11-2012

Buyers scope out Northland opportunities

Landlords.co.nz

Aucklanders looking for more value for money are looking north, real estate agents say.

Harcourts agent Louise Payne, who works in Whangarei, said she had seen a lot of people moving up from the country’s biggest city. “In particular viewing the lifestyle properties, they can't believe how much value you get for your money up here in comparison to Auckland.”

Auckland house prices are a hot topic at the moment, with average prices in the city reaching $530,000, 14% up on last year.

By contrast, Northland is one of the few regions in which average prices are still tracking slightly down.

It was reported last week that activity had been seen particularly around the region’s Tutukaka Coast and the stretch of land between Ruakaka and Waipu.

Peter Vink, manager of the Tutukaka Coast Ray White Allens office, told Whangarei newspaper the Northern Advocate that people liked the climate, the low earthquake risk and limited local development.

Several large homes have been built on the Tutukaka coast and a number of substantial residential projects are scheduled for next year, he said.

Harcourts in Kerikeri also reported increased interest from Aucklanders.

The Far North District Council, which covers the Bay of Islands, reported that there had been a near record number of LIM reports issued in the last month.

There were 110 applications for LIM reports in October - nearly double the usual number - and completed all of these reports within the 10-day statutory timeframe.

The council said it was a sign of increasing activity in the real estate market.

Tags: peter vink

Source: Landlords.co.nz

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