Kaipara tops house prices in North

By Mike Regan

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Northland is riding the crest of the property wave with house values in the region's three districts ahead of the national average, according to the latest QV House Price Index.

Kaipara is the top performer, up 19.4 per cent over the past 12 months to June, ahead of the national average of 13.5 per cent.

On dollar value, Kaipara also registers as the top median for the region at $418,962, ahead of the Whangarei median house price of $411,931 and houses in the Far North, which average $351,792.

It could be a turning point for Auckland, with prices now at an all-time high, they're almost out of reach for the average income earner.
Brendon Skipper, realestate.co.nz CEO

But Kaipara is just over $172,000 lower than the national average house price at $590,909 - the district is also 5.6 per cent ahead of the 2007 market peak.

Whangarei is up 18.2 per cent for the past 12 months (and 3.9 per cent up on the 2007 market peak) while the Far North is up 15.5 per cent but still 11.7 per cent below the 2007 market peak.

The average property price across the greater Auckland region was $975,000, and the latest CoreLogic Buyer Classification data show the share of sales in Auckland to investors is now at 46 per cent of all sales, up from 37 per cent in 2012.

QV spokeswoman Andrea Rush said, nationwide, values are now rising at the fastest rate since 2004, up 5.6 per cent over the past three months alone and the nationwide average value is now nearing $600,000.

Values rose by 5.6 per cent over the past three months and are now 42.6 per cent above the previous market peak of late 2007. When adjusted for inflation, the nationwide annual increase drops slightly to 13 per cent and values are now 21.6 per cent above the 2007 peak.

"Many housing markets around the country are continuing to be driven by strong investor demand, low interest rates, rapid price growth in the Auckland market and strong net migration," Ms Rush said.

Online real estate operators realestate.co.nz say Whangarei Heads has become the area of choice as Aucklanders look further afield for a place that is still affordable.

Online interest in Whangarei Heads is up 42 per cent on the same time last year, according to realestate.co.nz CEO Brendon Skipper while searches for Auckland properties have dropped.

The number of users searching Auckland houses "for sale" on realestate.co.nz in June fell by 19.33 per cent compared to the same time last year.

"It could be a turning point for Auckland, with prices now at an all-time high, they're almost out of reach for the average income earner, with first home buyers the hardest hit."

Other areas in Northland to attract interest include Waipu, Paihia, Tutukaka, Kerikeri Surrounds, and Karikari Peninsula.

- Northern Advocate

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