Priced out of Auckland and wondering if Gisborne will provide the first home buyer's paradise you seek? Or cashing up with an eye on early retirement and a new lifestyle pad in Hawke's Bay?
A property expo this weekend is highlighting affordable properties to those shut out of Auckland's heatedmarket, and showcase flash ones to those keen escape the rat race.
This weekend's Bayleys' "Beyond Auckland - The Rise of the Regions" expo was designed to provide specific property and regional information for those looking outside New Zealand's most expensive city.
Bayleys National Residential Manager Daniel Coulson said the increase in the number of Aucklanders leaving the city was the driving force behind the expo which is in its second year.
Last month soaring house prices saw Auckland left with just five suburbs with a median price of under $500,000.
Now there are only three, according to new data from property website QV. These are Wellsford, Parakai and Auckland Central. Grafton and Manukau have now ticked over $500,000.
In 2007 Auckland boasted 80 suburbs with a median value under $500,000. Now, the average house price in the city has topped $1 million.
Coulson said there would be plenty of houses in the "affordable" bracket of under $500,000 represented at the expo.
In Gisborne this four bedroom home on a whopping 1820sqm site with pool and an additional two-bedroom unit providing income is on the market for $289,000.
In Gisborne a four bedroom house on a whopping 1820sqm site with pool and a rented cottage at the back providing income is on the market for $289,000 - under its CV of $292,000.
The character home with the very affordable price tag includes open-plan living areas, a modern kitchen, woodburner and heat pump and a dining area opening out to the in-ground pool.
A second dwelling helps with the mortgage repayments and is currently rented at $250 pw.
In Napier around $450,000 will buy you this spacious two-level, five bedroom home on a 645sqm section.
The picturesque town of Napier also offers family friendly options with a spacious five bedroom home across the road from the newly-developed cycleway priced at around $450,000.
The two-level home has a fenced backyard and its do-up condition means there is room to add value.
This home in Whanganui is on the market for $560,000, has four bedrooms, a three car garage and sits on 2023sqm. Photo / Bayleys.
For the same price as a one-bedroom Auckland apartment you can buy a 274sqm home with four bedrooms and a three-car garage in Whanganui.
The character home on Liverpool Street, College Estate, is on the market for $560,000. It has four bedrooms, has been renovated and features expansive landscaped gardens on 2023sqm.
Higher-end properties better suited to those cashing up in Auckland for a better lifestyle somewhere else would also feature.
"There are people who have sold for $1.2m in Auckland and they are looking for a nice property with a piece of land for a price that leaves some money in the bank," Coulson said.
Daniel Coulson of Bayleys said there are plenty of affordable options in the regions. Photo / Supplied
The expo comes at a time a record number of Aucklanders have bought in the regions because they cannot afford house prices.
A recent poll conducted for website The Spinoff by research company SSI found one in three people surveyed had considered moving away from Auckland in the last two years because of house prices.
Auckland housing prices have risen by 85 per cent in the last four years, taking the average price to around nine times the average household's income. Aucklanders getting out of town are also pushing up house prices in neighbouring regions like the Bay of Plenty and Waikato.
This two-bedroom unit in Papakura, south Auckland, is one of the few properties with an asking price of under $500,000. Photo / Bayleys
Coulson said those who could not afford to buy in the city would benefit more from the expo than leafing through regional property pages.
"We have property experts who live and breathe these areas who will be there to give advice on what certain regions have to offer," Coulson said.
"People will be able to find out about specific properties but also do some research on local services and whether an area will be right for them."
The expo would also highlight investment opportunities for people who could either no longer afford to invest in Auckland or who saw better potential elsewhere.
According to the latest figures released this week by REINZ, the regions are growing in value.
New record median sale prices were seen in Northland ($390,000), Waikato/Bay of Plenty ($458,500), Taranaki ($350,000), Wellington ($480,000), Nelson/Marlborough ($450,000) and Otago ($296,000).
At the same time, Auckland's median price has risen 7 per cent year-on-year to $825,000. The average price in Auckland hit $1m last month and is now at $1,031,253 according to QV figures.
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