Waterfront property values on the crest of a wave

Waterfront property values on the crest of a wave

Waterfront property on Waiheke Island - which has outperformed New Zealand real estate trends over the past decades - will continue to grow in value in the long term, according to the latest property research and statistics from leading real estate agency Bayleys.

Bayleys’ Waiheke Island report out this week shows that absolute beachfront property on the island has grown by approximately 19 per cent per annum every year since 1982, and while this rate has slowed in recent years, the long term view was for further gains.

Bayleys research analyst Sarah Davidson said Waiheke’s positive property future as both a permanent residence and holiday home resort was underpinned by an excellent ferry transport system - which compared favourably against road routes for similar holiday destinations in the Coromandel and Rodney districts.

“With approximately 100 kilometres of coastline, waterfront property makes up a significant proportion of the local market. Market reports suggest that absolute waterfront property is generally tightly held – restricting the number of properties brought to the market. This has led to significant value increases in absolute waterfront land in key waterfront markets,” Ms Davidson said.

Additionally, new Auckland City Council bylaws will have the effect of limiting the amount of Waiheke development land brought to the market, which will help to support value growth, Ms Davidson said.

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