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Home / Bay of Plenty Times

Property boom comes to Te Puke

By Carmen Hall
Bay of Plenty Times·
12 Sep, 2015 12:00 AM4 mins to read

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Nicole Harvey and her husband shifted from Tauranga to Te Puke.

Nicole Harvey and her husband shifted from Tauranga to Te Puke.

Te Puke has become a property hot spot with a 56.7 per cent increase in the number of homes sold this year compared with all of 2014.

Real Estate Institute of New Zealand figures show 185 properties had sold in the township to the end of August 2015 while only 118 sold during the whole of 2014.

Data showed August was the best selling month for 2015 with 39 properties sold at a median sales price of $307,000 with a record-breaking average of 56 days to sell.

Properties which are reasonably priced are experiencing much shorter marketing periods than witnessed over the last few years.

Andrea Rush, QV

In August 2014, six houses sold - not even enough to report median sales price or days to sell, the institute said.

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REINZ chief executive Colleen Milne said the drawcard of moving to smaller communities was lower house prices which could mean little to no mortgage.

QV national spokeswoman Andrea Rush said there had been a significant increase in activity in the Te Puke market with many real estate agents reporting short marketing timeframes and a lack of available stock.

"Properties which are reasonably priced are experiencing much shorter marketing periods than witnessed over the last few years."

Ross Stanway, chief executive of Eves and Bayleys Real Estate, said Te Puke's profile had increased significantly over the last 12 months and its future "is an extremely positive one.

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"It has always been a great township in its own right but that will increase as it, in effect, becomes closer to Tauranga."

Buyers were picking up on that fact combined with "excellent prices on offer at values that are attractive.

"There are good opportunities for people to live in Te Puke and have a neat lifestyle and either work there or travel into Mount Maunganui, Papamoa or the city."

Tauranga Harcourt general manager Nigel Martin said the booming kiwifruit industry and Tauranga Eastern Link had provided a boost for the town.

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"There is a lot of pride in that community and they are wanting to take advantage of the situation right now and make the most of it."

Te Puke had rebounded off low volumes of sales over the last few years and now there was "a lot more focus from out-of-town people.

"It is starting to look like a much more attractive investment option for investors and those looking to move to the Bay."

Pressure on housing stock levels in Papamoa and Tauranga could also bode well for the town, he said.

"People will start looking further afield and Te Puke is the next step. At the end of the day, it's the closest town to Tauranga."

Western Bay of Plenty District Mayor Ross Paterson said Te Puke's strength was that it had good services and properties that were priced right, allowing people into home ownership.

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Move from city works for couple

Nicole Harvey and her husband shifted from Tauranga to Te Puke two months ago and she said it was "a really good move".

The Harveys had been renting in the city and after no luck finding a suitable home in their budget range, they decided to look in Te Puke.

They now own a nice, fully insulated three-bedroom home big enough for them and their three cats.

Mrs Harvey said she would not return to the city: "Where we are, we've got the sun coming through in the morning and afternoon and we're happy here."

The best part about moving to Te Puke was the quiet, small, rural community feel.

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"It's more quiet out here is the biggest thing I've found about it. People are a lot friendlier and we try to buy in Te Puke as opposed to Tauranga, to try and support the small businesses out here."

The Tauranga Eastern Link was a massive factor in the move as it made access to the city easier.

"It's only 20 minutes to Bayfair and 10 to Papamoa so it's not that far out of the way."

By the numbers 2015

* August: 39 sales, median price $307,000

* July: 30 sales, median price $298,500

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* June: 25 sales, median price $280,000

* May: 24 sales, median price $280,000

* April: 13 sales, median price $295,000

* March: 23 sales, median price $325,000

* February: 17 sales, median price $345,000

* January: 14 sales, median price $355,000

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- REINZ

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