I have been away on annual leave the past few weeks and I hope like me, you have enjoyed the comments from our Group Sales and Marketing Manager, Karen Worley.
It seems that there is no let-up in on going media coverage of Auckland’s housing woes and the impact of that on our region. Some data of interest follows:
The (Saturday 16th April) NZ Herald reports that up to a value of $600k only 30% of homes in Auckland are available. This compares with 77% available up to that price level in the Tauranga region. However the sales made in our region in the first calendar quarter to Aucklanders is around 20% of the total sales and the median price has moved up nearly $80k March ’15 to March ’16 now at $511,500.
Through one of the real estate industry’s leading websites in March, 33% of searches on Bay of Plenty properties were from Auckland and 26% came from existing Bay residents. In Tauranga, Mount and Papamoa first quarter this year a total of 543 properties sold under $600k.
The long term impacts of this increase in property purchases by those moving to our region is positive, bringing new families, increased skill base, new employment opportunities adding to an already growing economy.