About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, December 12th, 11:30PM
rss
Latest Headlines

Inner Auckland rising star

Grafton is the central Auckland suburb that has seen the biggest rise in median prices over the last year, according to new REINZ data.

Monday, July 9th 2018, 12:00PM

by Miriam Bell

Auckland inner city suburb Grafton

A REINZ analysis of sought-after inner Auckland suburbs shows that Grafton, followed by Mt Eden and then Northcote Point top the price rise list.

The analysis compared the median price of properties for the six months ending March 2018 with the median price of properties at the same time last year.

Over the time compared, Grafton’s median price rose by a hefty 39.8%, or $167,000, from $420,000 to $587,000.

Mt Eden’s median price went up by 36.7%, or $340,500, from $927,000 to $1,267,000, while Northcote Point’s median price increased by 19.2%, or $220,500, from $1,147,000 to $1,367,500.

REINZ chief executive Bindi Norwell says Auckland’s top five fastest rising suburbs all have a number of critical factors in common.

They are all close to the CBD, have good motorway access and public transport links, they have a number of entertainment or dining options available to them and they also have access to green spaces.

“Time and time again, we hear from agents that proximity to the CBD is becoming increasingly important as people want to spend less time sitting in their car driving to work,” she says.

“What is interesting though is that apartments are proving more popular than ever in these established areas, with people prepared to sacrifice space for the gains made in travel time.”

But the top two suburbs - Grafton and Mt Eden - clearly stand out from the other fast rising suburbs in Auckland because of the school zones they offer, Norwell says.

“Both Grafton and Mt Eden fall into Auckland’s very popular Grammar Zone. With education continuing to be a key purchasing decision, this is adding to the price that people are prepared to pay to live in these areas.”

It’s worth noting that Grafton, which has long lagged behind in the price growth stakes, also sits in close proximity to Auckland Hospital, the University of Auckland, AUT, and the CBD.

Meanwhile, in sharp contrast to the increases in median prices seen in the top 10 fast rising suburbs, the median for Auckland over the same period decreased by 0.9% from $863,000 to $855,000.

Central Auckland’s top 10 fastest rising suburbs:

  1. Grafton: up 39.8% to $587,000
  2. Mt Eden: up 36.7% to $1,267,500
  3. Northcote Point: up 19.2% to $1,367,500 
  4. Westmere: up 18.9% to $2,045,000 
  5. Epsom: up 18.3% to $1,540,500 
  6. Albany: up 16.4% to $964,500
  7. Mellons Bay: up 16.2% to $1,935,000
  8. Pt Chevalier: up 15.8% to $1,540,000 
  9. Campbells Bay: up 15.0% to $2,195,000 
  10. Freemans Bay: up 14.2% to $1,395,000 
« Demand cools in Auckland KiwiBuild success would slow market - TMP »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • ASB appoints Vanguard as manager
    “What I find amusing from those industry participants who favour passive investing over active is their continued ignorance...”
    8 hours ago by Pragmatic
  • Law doesn't have to be broken for FMA to take action
    “Agree with Brent Sheather - NZ regulators suffer from what is formally termed 'regulatory capture'. A form of government...”
    14 hours ago by Chatterbox
  • ASB appoints Vanguard as manager
    “Pragmatic just going back 20 years to speak to you, I suspect the ASB’s value proposition is well diversified low cost...”
    14 hours ago by John Milner
  • CLU back on agenda for Massey
    “I'm delighted Massey has elected to do this. The initial efforts of Denis Sampson and others bringing it here from the US...”
    16 hours ago by Referee
  • Old approach won't always stack up
    “Thanks Steve for a thoughtful and moderate comment. I know Brian and the fact was that the client was happy. For the...”
    17 hours ago by MediCare
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com