Tuesday, 05 December 2023
NapierHastings
NZ HeraldThe Northern AdvocateThe Northland AgeThe AucklanderWaikato HeraldBay Of Plenty TimesRotorua Daily PostHawke's Bay TodayWhanganui ChronicleThe Stratford PressManawatu GuardianKapiti NewsHorowhenua ChronicleTe Awamutu CourierVivaEat WellOneRoofDRIVEN Car GuideThe CountryPhoto SalesiHeart RadioRestaurant Hub
Voyager 2023 media awards
Subscribe

Advertisement

Advertise with NZME.
Home / Hawkes Bay Today

QV House Price Index sees Hawke's Bay values increase

Hawkes Bay Today
6 Mar, 2018 09:30 PM3 mins to read
Saveshare

Share this article

facebookcopy linktwitterlinkedinredditemail
James Cooper of Harcourts Hawke's Bay says the QV figures reflect what his agents are experiencing in the market. Photo / File

James Cooper of Harcourts Hawke's Bay says the QV figures reflect what his agents are experiencing in the market. Photo / File

The latest monthly QV House Price Index has seen house values continue to rise around the Hawke's Bay region.

Napier values rose 16.5 per cent year on year and 3.1 per cent over the past three months.

The average value in the city is now $488,236.

Read more: January real estate sales in Tararua best in more than decade
House prices in Hawke's Bay hit record level - Napier median up $95k in a year
House prices cool off but not in provinces

Advertisement

Advertise with NZME.

The Hastings market also continues to rise, up 13.8 per cent year on year and 2 per cent over the past three months, with the average value now $451,686.

Central Hawke's Bay has also seen values jump 22.1 per cent year on year and 8.1 per cent over the past three months.

QV national spokeswoman Andrea Rush said Hawke's Bay continued to see some of the strongest value growth in the North Island.

"Values continue to rise faster in Wellington, Dunedin and many regional centres than in Auckland."

Advertisement

Advertise with NZME.

She said low interest rates and the easing in the loan to value ratio (LVR) restrictions has seen many more first-home buyers active in areas where they can still afford to enter the market, while some investors also appear to be becoming more active now they need a slightly lower deposit.

Harcourts general manager James Cooper said "the latest QV House Price index confirms what our team is experiencing in the market".

He said demand for property is high with competition amongst buyers driving strong value growth.

"The buoyancy in the market is driven by a number of factors. Some of the key drivers are 'pull factors' which make Hawke's Bay an attractive place to purchase property. These include a strong local economy with low unemployment."

Related articles

House prices hit record level for second month in a row

13 Mar 08:02 PM

He noted that another pull factor is the lifestyle the region offers, making it an attractive place for people either looking to return home to raise a family, or buyers looking to re-locate from Auckland in their retirement.

QV Napier senior consultant Philippa Pearse said: "The Hawke's Bay market remains buoyant with strong value growth continuing.

"Investors are still active and include baby boomers looking for rental properties, or buying for family who can't afford to get in on their own, or ahead of family moving back into the area from other areas or overseas.

"There is also strong activity from first-home buyers and investors in the lower-valued areas of Napier and Hastings such as Akina, Mahora, Maraenui and Flaxmere, where you can still purchase homes under $400,000 - particularly from those looking to take advantage of the government grant and KiwiSaver.

"Central Hawke's Bay has seen value growth of more than 20 per cent over the past year mainly due to increased demand from lower-income families priced out of Napier and Hastings who now have to look further afield to more affordable homes."

Saveshare

Share this article

facebookcopy linktwitterlinkedinredditemail

Advertisement

Advertise with NZME.

Latest from Property

Premium
Hawkes Bay Today

Business backing huge solar farm fails, creditors want $12.3m

12 Apr 05:27 AM
Premium
Business

Retirement village giant unveils $335m expansion at two NZ sites

14 Mar 09:19 PM
Premium
Hawkes Bay Today

Cyclone Gabrielle: Infrastructure to trump housing in possible $13b repair

24 Feb 04:00 PM
Premium
Business

Evacuations and no power: The fate of 1000 retirement village residents during cyclone

24 Feb 04:13 AM

Top toys of 2023 for kids & ‘kidults’

sponsored

Advertisement

Advertise with NZME.

Latest from Property

Premium
Business backing huge solar farm fails, creditors want $12.3m

Business backing huge solar farm fails, creditors want $12.3m

12 Apr 05:27 AM

Council said the venture supported its aspirations. Now, it is a creditor.

Premium
Retirement village giant unveils $335m expansion at two NZ sites

Retirement village giant unveils $335m expansion at two NZ sites

14 Mar 09:19 PM
Premium
Cyclone Gabrielle: Infrastructure to trump housing in possible $13b repair

Cyclone Gabrielle: Infrastructure to trump housing in possible $13b repair

24 Feb 04:00 PM
Premium
Evacuations and no power: The fate of 1000 retirement village residents during cyclone

Evacuations and no power: The fate of 1000 retirement village residents during cyclone

24 Feb 04:13 AM
Toy trends for Christmas
sponsored

Toy trends for Christmas

About NZMEHelp & SupportContact UsSubscribe to Hawke's Bay TodayHouse Rules
Manage Your Print SubscriptionHawke's Bay Today E-EditionAdvertise with NZMEBook Your AdPrivacy Policy
Terms of UseCompetition Terms & ConditionsSubscriptions Terms & Conditions
© Copyright 2023 NZME Publishing Limited
TOP