Among the top areas in New Zealand real estate, where things are really happening, are Tararua and Wairarapa.
Both residential and commercial property is on the rise and the move into the region by key commercial real estate company Colliers International underlines the trend.
The most recent Real Estate Industry of New Zealand (REINZ) data reveals an astonishing 35.2 per cent residential sales price increase year-on-year in the Tararua market. Wairarapa wasn't far behind, with properties increasing in value by 24.2 per cent since March 2019.
Those who own farms and other rural businesses can't help but be affected by such increases and Colliers' entry to the region is likely to spur the market in such properties even more.
Colliers, an international commercial real estate company with worldwide reach, has opened new offices in Masterton and Pahiatua, with the new franchises to be run by local rural real estate specialist Rob Deal, who has years of experience in this particular market.
He says the region's booming rural real estate market is what drew the attention of this major commercial real estate player: "Colliers is in expansion mode and the region has experienced a huge amount of real estate transactions in recent times, so it made sense to open up here."
Deal already has a great network of contacts in the region due to his years working at the coal face of rural real estate. But he says that, even within the short time the offices have been open (less than a month), he's received enquiries from parties that would not have heard of Tararua and Manawatu before Colliers International set up shop.
"The contacts within Colliers are incredible," he says. "They have a huge corporate and commercial base and this works extremely favourably for sellers."
Corporate interests made up half of the sales that Deal has worked on recently, even before Colliers' entered the local market. Given its huge international reach, significantly more international players will now have the opportunity to invest in this southern North Island region.
Deal says that the beef, sheep and forestry sectors are very strong and are set to remain so. He explains that even though the market has been lively, the presence of Colliers International will spark it further.
"There was already a really strong market in the Tararua and Wairarapa rural sector, but Colliers will take this to another level. It's opened up so many doors for rural businesses in the area."
Colliers International has an established reputation in New Zealand, having been operating here for more than 40 years. The Australian-founded company has 22 offices nationwide; internationally it boasts 16,000 real estate professionals operating in 66 companies.
This huge network of contacts (and potential buyers) now has access to opportunities in a small pocket of rural New Zealand.
"Colliers is able to reach a broad range of national and offshore investors, both through its national network of rural property specialists and its regular roadshows in Asia and Europe," says Deal.
"I'm excited to bring this global reach to my local clients, and to continue growing Colliers' presence in Tararua and Wairarapa."