Auckland’s new top 20 hotspots
There’s been a changing of the guard in Barfoot & Thompson’s Auckland suburb growth hot spots list, with sixteen new suburbs entering the top 20.
Tuesday, August 30th 2016, 11:30AM
by Miriam Bell
Barfoot & Thompson managing director Peter Thompson
The Barfoot & Thompson hot spots list calculates which Auckland suburbs have experienced the biggest growth in values over the six months from February to July 2016.
While the exclusive Eastern Bays suburb of Mission Bay has rocketed up the list to claim first place, the rest of the list is made up of a wide range of suburbs across locations and price brackets.
Barfoot & Thompson managing director Peter Thompson said the latest list was their most diverse list yet with 16 of the 20 suburbs new to the top 20.
There is a spread of locations from Rodney to Franklin and median prices ranging from the mid $500,000s to over $2 million, he said.
“There has also been a rise in the number of outer suburbs placing on the list, such as Mangawhai Heads and Orewa in the north, and Weymouth, Waiuku and Tuakau to the south.”
“Buyers have been attracted to these areas by their more affordable pricing and lifestyle aspects, while still being within a commutable distance to Auckland business centres like the North Shore and Manukau.”
Top spot place getter, Mission Bay, saw growth of 100% in median sale price. It was up to $2,158,000 from $1,080,500 in the same period last year.
Mangawhai Heads, which is on the very northern fringe of the Auckland region, claimed second place. It saw 56% growth in its median sale price with a jump to $655,000 from $419,000 in the same period last year.
The central Auckland suburbs of Grey Lynn (up 48% to $1,497,500), One Tree Hill (up 40% to $1,269,000) and Royal Oak (up 36% to $1,140,000) rounded out the top five spots.
Thompson said the half yearly lists are helpful in identifying price trends across the region, as well as at a suburb-by-suburb level.
“Alongside other data, the lists can help sellers identify where demand is strong, and can help buyers better judge value for money.”
For example, the latest list shows the popular suburb of Grey Lynn is experiencing another round of value growth, he said.
It has moved from near the bottom of the previous list with single digit growth to the number three spot this time around.
“Development of nearby schools, residential blocks and entertainment precincts in the area is contributing to the price growth in this already popular neighbourhood.”
At the same time, many previously top performing suburbs have dropped out of the top 20, Thompson said.
“This points to a settling in their value growth for now, although most are still enjoying increases of between 10-20% over the period measured.”
Barfoot & Thompson’s top 20 Auckland growth suburbs were:
1. Mission Bay (100%)
2. Mangawhai Heads (56%)
3. Grey Lynn (48%)
4. One Tree Hill (40%)
5. Royal Oak (36%)
6. Orewa (32%)
7. Manukau Central (30%)
8. Browns Bay (30%)
9. Belmont (29%)
10. Bucklands Beach (29%)
11. Sunnyvale (28%)
12. Tuakau (27%)
13. Greenlane (26%)
14. Waiuku (26%)
15. West Harbour (26%)
16. Albany (24%)
17. Dannemora (23%)
18. Weymouth (23%)
19. Otahuhu (21%)
20. Royal Heights (21%)
| « Early signs of easing price pressure | Property investors sidelined by RBNZ – For now » |
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