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Provincial property market heats up while Auckland cools
Provincial property market heats up while Auckland cools
What we’re seeing
-
Auckland’s property market is cooling while the regions
appear to be taking off
- Excluding the three
major cities provincial property prices have risen $336,950
(37.9%) in the past five years
- Of New
Zealand’s 15 regions, 7 hit record highs average asking
prices in December 2016 - Gisborne, Marlborough, Manawatu,
Nelson, Northland, Southland and Waikato.
- Of
the three ‘halo’ regions Northland has been the quietest
until recently. The region blew through the half million
dollar mark in November and kept going in December. It now
has average asking prices of $521,750
- Urban
properties (units, apartments, townhouses) are lagging
behind the rest of the property market (while still growing)
and this may be down to lending restrictions
http://img.scoop.co.nz/media/pdfs/1701/Trade_Me_Media_Release__Provincial_property_market_heats_up_while_Auckland_cools.pdf
ends
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