Editorial: Region will prosper as newcomers buy homes

CEO of Bayleys/Eves real estate Ross Stanway said "our people are selling a significant amount to out-of-town buyers that are younger people with families, good careers and good jobs, or they are bringing businesses here". Photo / John Borren

The latest property figures came as a bit of a shock even though I have suspected it was heading that way for some time.

As reported in yesterday's paper average property values in Tauranga are now higher than they were in the 2007 peak - before the recession hit.

I'm not sure how I feel about it.

My husband and I are in the market for our first home and so far we've been outbid (by a long way) at both the auctions we've been to.

My first reaction to yesterday's figures showing average home values were up 7.3 per cent to more than $485,000 was one of dread.

It's disheartening to think property values are still going up and are now higher than eight years ago.

Our experience so far has been that people are so desperate to get into a home that they are willing to pay far more than it is really worth.

To me, the thought of spending hundreds of thousands of dollars is scary enough on its own without the added fear of wondering if we have paid too much and are going to lose money when we go to sell it.

It's a tough market and I can't see it slowing down any time soon (although I'm no expert).

We're just going to have to keep looking until we find something that suits us.

On the other hand it's great news for our economy and I'm excited to see how our city is going to grow and improve in the coming years. Ross Stanway, chief executive of Eves and Bayleys Real Estate, yesterday told the Bay of Plenty Times "our people are selling a significant amount to out-of-town buyers that are younger people with families, good careers and good jobs, or they are bringing businesses here".

To have so many young, working families moving to the area will only add to the vibrancy of the city.

More businesses will add value to our economy and allow the city to push ahead with more events and some of the projects that are not necessary but will make it a more enjoyable place to live - a museum or a stadium or more initiatives like the Wharf St dining precinct.

When I first moved to Tauranga I remember trying to go out for dinner about 8.30pm one weeknight in winter only to find hardly any restaurants were open.

More people moving to the region will slowly but surely change things like that as demand increases.

I was born and bred in Auckland and I like the city life, but I know that is not everyone's cup of tea. The beauty and attraction of Tauranga is that it will never lose that beachy, laid-back feel.

We will always be home to some of the best beaches in the country and that is a large part of what draws people here.

I am a city girl but there's no better way to spend the summer months than at the beach.

A growing population and a growing economy is only going to add to what out city has to offer.

There's always two sides to the coin. I still dread trying to find a house in this market but I'm glad our city will benefit.