Northland property values continue to rise, with three million-dollar suburbs

Northland's property prices show no sign of abating with the latest figures showing the region has three suburbs where the median house price is more than $1 million.

The latest figures, in the One Roof Property Report has suburb-by-suburb valuations and how much they have risen - and in a few cases even fallen - over the past year.

One Roof editor Owen Vaughan said the fact Northland prices were still rising was no real surprise as the region was still seen as a desirable place to live, particularly by Aucklanders.

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He said Northland still had areas that were good for first home buyers and those at the lower end of the market meant those areas would remain popular.

"That's reflected by the rises of some of those suburbs that may not have been so in demand previously, but because they are more affordable, they are now very much in demand. It's catch-up time for them,'' Vaughan said.

"There's buoyancy in Northland's residential housing market, even though the rate of house price inflation has slowed. The median value of all properties in Whangārei has in the last year risen 9.7 per cent to $520,000, although growth has stalled somewhat in the past quarter to 2.8 per cent.''

He said affordable housing appears to be driving growth for most suburbs in the district except Ngunguru and Whangārei Heads, both of which have higher-value coastal housing, so are popular with holiday home buyers and those seeking a coastal lifestyle options.

Two suburbs have declined in value over the last 12 months, Glenbervie and Mangapai, although it should be noted these suburbs have grown significantly over the past two years and both have median values above the median for the region, meaning the "catch-up effect" is not as prevalent, he said.

''Evident in the figures is the region's strong appeal to first-home buyers, who now represent 29.6 per cent of all new mortgage registrations. In line with other areas around the country, there has been a drop in buying activity by investors - those who own three or more properties - and multi-home owners - those who own two properties,'' Vaughan said.

''Investor activity in the area appears to be heavily influenced by a lack of confidence in future capital growth opportunities and a need for further information around big ticket infrastructure projects in the north, such as those driven by the Regional Development Fund.''

The figures show three sought-after coastal suburbs over the $1 million mark.

Langs Beach, with a median price of $1,520,000 has gone up by just 1 per cent in the past year, while Tutukaka, with a median of $1,088,500 has risen by 10 per cent over the same period and Matapouri, with a median of $1,045,000 has gone up by 8 per cent.

Top performing suburbs over the year were in Whangārei were Ngunguru, with a median of $766,000, up 16 per cent; Woodhill, $444,000, 15 per cent; Whangārei Heads, $720,000, 14 per cent; Whakapara, $535,000, 13 per cent and Tikipunga, $435,000, 12 per cent.

In the Far North Opua, with a median of $570,000 has risen 22 per cent in the past year; Moerewa, $170,000, has risen 21 per cent; Paihia, $514,000, up 19 per cent; Ahipara, $398,000, is up 18 per cent and Kaeo, $459,500, up 15 per cent.

The biggest mover though is in the Kaipara, where Ruawai, with a median of $288,000 has risen by 38 per cent; Te Kopuru, $267,000, up 19 per cent; Whakapirau, $633,000, up 17 per cent and Dargaville, with a median of $327,000, is up 16 per cent.

Vaughan said despite the rises, there would still be growth in the Northland property market this year, but not at he same levels as the past two or three years.

''I think that double-digit growth you've been seeing will likely come down as the year progresses, but the outlook up there is still pretty positive.''