The Auckland suburbs where growth continues to soar
While some pundits have labelled the Auckland housing market as ‘cooling’, property data analysts, CoreLogic have revealed there is still significant opportunity for growth – you just need to know where to buy.
Examining growth of each Auckland suburb from November 2007 (the pre-GFC peak), their data shows quite significant variance, suburb to suburb.
Over the last decade, all suburbs in the Auckland top 50 have increased over 100%, markedly higher than the national average of 67%.
Perhaps more relevant to today’s prospective buyers, CoreLogic also looked at growth from November 2016 to today. This paints quite a different picture than the 10-year analysis.
Topping both the Auckland and New Zealand wide rankings for property growth is the East Auckland seaside suburb, Wai O Taiki Bay which has seen an increase of over 150% since 2007.
This is followed by the surrounding suburbs of Glen Innes and Point England, with a percentage change of 134% and 132% respectively.
Even with the market slowing down since the soaring heights of 2016, these top performers continue to see significant growth with Wai O Taiki bay experiencing 12% growth since this period.
Marcel Van Drongelen, marketing manager at of the Wai O Taiki waterside development believes the key to the suburbs consistent growth has been a combination of liveability and access to the CBD.
“Kiwi’s tend to be lifestylers, placing a lot of value on an area’s outlook and access to nature”.
“Wai O Taiki’s continued appeal is its proximity to beaches, park and nature reserves coupled with easy access to the city’s CBD”.
This has been made apparent by the popularity of the new development at Wai O Taiki, with Van Drongelen reporting only five properties remaining out of over 80 new homes.
For those looking to buy in to the Auckland property market, there are some take-aways from Wai O Taiki’s consistent growth. That is, if a suburb offers a high quality of life where the natural environment is easily accessible, coupled with quality housing stock, it will remain resilient to the ebbs and flows of the market.