House prices around our little neck of the woods increased faster than in Auckland last year, according to the latest figures from the Real Estate Institute of New Zealand.
The figures show that between December 2014 to December
2015, the median sale price increased 15 per cent in North Rodney, compared
with a rise of 13.6 per cent in Auckland.
In North Rodney, the median sale price increased by $85,125
from $550,875 to $636,000, compared with a $92,000 rise in Auckland, from
$678,000 to $770,000.
Price increases are clearly being driven by more people wanting
to make their move to the region and the obvious lack of supply of land and
housing locally. Supply and demand will always be the major factor in real estate
values. Everyone seems to want a piece of our beautiful lifestyle, and why not?
It seems that particularly the buyers from the Auckland region have an absolute
obsession in wanting to get into the area; we have been inundated with families
trying to find a home to buy since we opened the office last week. It is all
about the quality of lifestyle…besides who doesn’t love a wine on a stunning
beach!
The bottom line is unless the Auckland Council is able to make more
suitable land available for development, prices will continue to climb. Good
news for Sellers, but if you are a Buyer, time to make decisions! With the
world economy getting ready to rock a little, who knows what lies ahead for
2016? Pass me another glass darling!
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