Hawkes Bay Today
  • Hawke's Bay Today home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Napier
  • Hastings
  • Havelock North
  • Central Hawke's Bay
  • Tararua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Napier
  • Hastings
  • Dannevirke
  • Gisborne

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Hawkes Bay Today

Home or castle? 213 Hawke's Bay properties sold for more than $1 million

Hawkes Bay Today
5 Aug, 2021 05:10 AM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Sprawling Taradale, once a town and now a Napier suburb, and where million-dollar home sales are now common. Photo / File

Sprawling Taradale, once a town and now a Napier suburb, and where million-dollar home sales are now common. Photo / File

The big numbers have rolled out in Hawke's Bay's property market with three sold this year for over $3 million in the first six months, and 213 being sold for over $1 million.

The figures, revealed by the Real Estate Institute of New Zealand, compare with one $3 million-plus sale in the first six months of last year, while the increase in the number sold for more than $1m represents an increase of 317.6 per cent on the January-June 202 total of 51. Details show three of the sales have been more than $3 million.

Nationwide, the number of 14,776 million-dollar homes sold in the first half of this year was 167.9 per cent up on the 5516 in the first half of last year, according to a media release on behalf of the REINZ on Thursday.

Senior communications adviser Kim Thompson confirmed the figures are for residential sales – thus not including rural farm or lifestyle block sales.

According to other figures, the trends are not slowing. In the past 15 days in Napier alone there have been almost 50 sales, more than a fifth topping $1 million. A modern three-bedroom home in Ahuriri sold last week for $2,420,000, in a sale by tender, and there had been a private treaty sale of over $2 million for a Hospital Hill home in early July.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

An auction of a property in Avondale Rd, Taradale, last week realised $1,160,000, and another home in the Poraiti area sold at more than $1.3 million a week earlier.

An auction of a home in Nuffield Ave, Marewa, was brought forward because of the demand, highlighting some of the trend across the city. It sold for $665,000 this week.
The median sale price in Napier is currently $935,000.

The market stuns even those in the real estate industry, including former broadcaster Kevin Wagg who, coming-up three years in the business in Napier, says the prices being paid and the way it is being pushed by demand is "ridiculous".

Advertisement
Advertise with NZME.

But the demand is there, from people ready to buy usually getting the nod over those still needing to pull the financial strings together to meet the balance.

"I feel sorry for the first-home buyer who has pulled together $100,000 for a deposit and still has to get the finance, while a buyer who has recently sold can settle within 2-3 days," Wagg said.

The sales range from modern upper-end homes to those with poorer-conditioned homes ready to be demolished or removed on larger sections to make way for new multiple-unit builds.

"Area is everything," he said. "If it [the property] is over 800 square metres it's gold."

The increases are being experienced nationwide, all areas having seen at least a doubling of the number of million-dollar sales and ranging from the 132.5 per cent increase in Otago (from 206 to 479 sales) to the 437.5 per cent increase in Marlborough (from 8 sales to 43).

Price-rocketing leader Auckland was showing comparative restraint, with just a 145.3 per cent increase (from 4067 sales to 9977).

Save

    Share this article

Latest from Hawkes Bay Today

Hawkes Bay Today

'We have you surrounded': Hawke's Bay house stand-off ends, police searching streets

Hawkes Bay Today

Fashion series supports businesses with multiple winter events

Hawkes Bay Today

Wet intro for Winter Art Deco but fine weekend ahead


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from Hawkes Bay Today

'We have you surrounded': Hawke's Bay house stand-off ends, police searching streets
Hawkes Bay Today

'We have you surrounded': Hawke's Bay house stand-off ends, police searching streets

A police officer could be heard speaking over a loud speaker at the scene.

17 Jul 12:15 AM
Fashion series supports businesses with multiple winter events
Hawkes Bay Today

Fashion series supports businesses with multiple winter events

17 Jul 12:00 AM
Wet intro for Winter Art Deco but fine weekend ahead
Hawkes Bay Today

Wet intro for Winter Art Deco but fine weekend ahead

16 Jul 11:08 PM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Hawke's Bay Today e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Hawke's Bay Today
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Hawke's Bay Today
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • © Copyright 2025 NZME Publishing Limited
TOP