Takapuna up 30% no real surprise
Takapuna Beach Business Association
Wednesday, 24 April 2019
Just released Real Estate Institute of New Zealand (REINZ) data, which shows Takapuna’s median house price up 30% in just one year, reflects the area’s significant activity and buoyancy, says Terence Harpur, chief executive of the Takapuna Beach Business Association.
The REINZ data covers sales activity around Auckland in the six months to the end of March, compared to the same time the previous year. While some suburbs experienced big falls, Takapuna led the pack of those which enjoyed the biggest increases.
REINZ has today crowned Takapuna ‘Auckland’s fastest-growing suburb’ and reports its median house price rose 30% from $1m last year to $1.3m.
“There is so much going on in Takapuna when it comes to commercial, retail, and residential property not to mention all the Auckland Council–led developments and upgrades. Takapuna is going through a major transformation and its future has never looked brighter,” says Mr Harpur.
Panuku Development Auckland is leading the charge to create an open, vibrant retail destination focused on people and a better connection to the beach. It’s tasked with partnering with the private sector to deliver a high-quality mixed-use precinct, currently the Anzac Street carpark site, with a key component being a brand-new town square.
A significant upgrade of Takapuna’s main street, Hurstmere Road, is in detailed design with construction expected towards the end of this year. While Panuku is now constructing the multi-level Gasometer carpark building on Huron Street for 420 cars.
Mr Harpur says Takapuna’s impetus follows the Auckland Plan identifying it as one of Auckland’s 10 metropolitan centres with Unitary Plan zoning now enabling significant growth and intensification in and around central Takapuna.
“We’re currently seeing apartment complexes going up on the fringe of central Takapuna, with more than 400 individual apartments coming to market which will be great for our retailers and many hospitality operators.”
He says Takapuna is only getting more and more sought-after.
“We’re seeing old buildings getting upgraded, developers creating new spaces to attract even more eateries, rising commercial property prices, and a general increase in buoyancy and business confidence. And now we’re also home to the strongest increases in house prices in Auckland. It’s certainly an exciting time for Takapuna,” says Mr Harpur.