Property editor of the NZ Herald

Northland house values soar 10pc last year

Steve Teague surfing at Waipu Cove. Property prices in Northland, particularly around Bream Bay, were up sharply last year, says Barfoot & Thompson.  Photograph / Michael Cunningham
Steve Teague surfing at Waipu Cove. Property prices in Northland, particularly around Bream Bay, were up sharply last year, says Barfoot & Thompson. Photograph / Michael Cunningham

The value of Northland houses sold by one big real estate agency rose 10 per cent last year, not far behind Auckland's 12 per cent.

Peter Thompson, Barfoot & Thompson managing director, has just released data from his company showing Northland house prices rising fast.

"The average sales price of residential properties we sold in Northland in 2015 was $414,000, a 10 per cent increase on the average sales price achieved in 2014. In Auckland, the average sales price for the year increased by 12 per cent, so in comparison price rises in the north compared to Auckland more than held their own. While national attention tends to fix on what is happening in Auckland, the reality is that locally property values have risen significantly over the past 12 months.

"All our salespeople commented on the increased interest shown in local property from potential out-of-region buyers, particularly from Auckland," Thompson said.

Lifestyle and houses which were value for money attracted people to Northland, he said.

"In the main this interest focused on Bream Bay and the rural parts of Whangarei District, where the average price increases far exceeded those for Northland as a whole.

The average price for properties sold in Bream Bay for the year was $440,000, an increase of 25 per cent over that for the previous year. The highest average price achieved in the region was in Whangarei district, and at $671,000 this was 36 per cent higher than in the previous year. It was the lifestyle, smaller holding options that really attracted those relocating north.

"The Far North also experienced a solid lift in average sales price, which at $447,000 was an increase of 17 per cent. Average sales prices in the more established urban areas such as Whangarei, Dargaville and Kerikeri experienced little in the way of price movement," Thompson said.

Northland rents for three bedroom places rose 5.5 per cent last year to an average of $324/week. Kerikeri rents rose the most: 17 per cent to $363/week.Whangarei rents rose 2 per cent to an average $314/week.

- NZ Herald

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