Demand rising for Gisborne properties

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REGIONAL New Zealand is tempting homeseekers, and interest in cities such as Auckland and Wellington is declining, a popular website says.

Realestate.co.nz spokeswoman Vanessa Taylor said there had been a 17 percent rise in demand for Gisborne-listed properties on its website.

“We’ve seen the cost of Auckland houses moving upwards and now the average asking price for an apartment in the city has hit an all-time high.

“Real-time market statistics from realestate.co.nz show that for February the average asking price for an Auckland apartment hit an all-time high of $711,892, but is still more obtainable than a house in the city (average asking price $950,446).

“For many buyers, it could well be a matter of embracing apartment living, accepting the reality of today’s asking prices, or looking to move or invest in another region.

"Auckland is experiencing a double digit fall in demand (10.8 percent), as is Wellington (18.8 percent).”

“Demand” is measured by taking the average number of listing views on residential properties over the last three months and comparing it to the same time last year.

Statistics from realestate.co.nz show that the top regions people are looking are Hawke’s Bay, followed by Otago, Gisborne and Manawatu-Wanganui.

“The increase in demand in those regions is 7.5 percent, 8.6 percent, 17.0 percent and 23.6 percent respectively. What you get for your money in those regions for around the same price as an Auckland apartment is compelling.”

For the same price as an Auckland apartment a buyer could buy a six-bedroom Edwardian home set in over 8.5 hectares with three bathrooms, a billiard room, swimming pool, guest cottage in park-like gardens and tennis court sized lawn, 20km from the centre of Gisborne.

“A drop in big city demand shows us that it’s not just retirees who could be considering cashing up and moving away from cities like Auckland.

“With technology and internet advancements the way they are, and with more people working from home, it is now more feasible for young people who still need to work to do so remotely from the regions. Younger house hunters who can’t afford big city prices now have other considerations.”