Second city suburb joins million-dollar club As report reveals median values in Matua
Norrish said the fact Matua was now a million-dollar suburb reflected the area’s popularity and showed it was in high demand.
“It’s a popular place to live and has a lovely community. People love being part of it.”
Matua Residents Association president Richard Kluit said Matua was popular because it was a peninsula.
“The fact it has got harbour on three-quarters of its site is such an attraction. It’s got good amenities and is close to town and easy to get around.
“There is also the Matua saltmarsh right on your doorstep and Ferguson Park is popular with families.”
Kluit said the suburb had changed from being a “retirees’ suburb” and had added to the mix many young families seeking to be near good schools.
“The school tends to be a real hub where people know each other.”
Simon Anderson, managing director of the Realty Group Ltd, which operates Eves and Bayleys, said Matua was a traditional Tauranga suburb with “beautiful” sights and homes.
“It’s not surprising it’s moved into the million-dollar club. It’s really been rediscovered.”
Meanwhile, Parkvale was the most “affordable unaffordable area” as median values were still above the First Home Grant housing cap, he said.
“But it’s not surprising we’ve seen that’s where the biggest growth is because we’ve seen so much interest there from investors and first-home buyers with interest rates where they are over the last 12 months.”
Reinz acting chief executive Wendy Alexander said median prices across the Bay of Plenty have been increasing significantly over the past couple of years.
This was particularly seen in Tauranga and Rotorua, which had traditionally been popular with buyers for lifestyle and affordability reasons, she said.
“Although many would question how affordable these cities have become in the last few months.”
Alexander said it was interesting to see how close Matua’s median sale price for the year to February ($870,000) had come to Mount Maunganui’s ($871,000).
“But given the good school zones, the great community amenities and fantastic water views, it’s not surprising how quickly prices have risen in the suburb of late,” she said. “Looking forward, it will be interesting to see what impact the LVR changes and recent government housing initiatives will have on the local market.”
The managing director of Tremains Bay of Plenty, Anton Jones, said a Matua home sold at auction for well above the vendors’ expectations
a few weeks ago.
“Matua is very popular and is showing some really good growth signs,” Jones said.
“The Mount has some higher-value homes as affordable “It’s certainly a nice place to be. “Parkvale has also seen some well as some more properties like townhouses. growth,” he said. “It has got some nice views and has always been a place that is potentially ready to go.”
Mount Maunganui College principal Alastair Sinton said the Mount was popular for its schooling and “geographically blessed” with Mauao, Moturiki (Leisure Island) and “stunning beaches” that encouraged an active lifestyle.
“It has handy and popular entertainment options, good sporting facilities and a strengthening cultural vibrancy.”
The school’s roll had grown by an average 100 students in each of the past four years.
Sinton said he had lived in the Mount since 2019 but his connections stretched back to childhood.
“My grandparents lived on Macville Rd and my mum and aunties all grew up here and attended Omanu School then Mount Maunganui College,”
he said.
“The whole area has changed a lot in that time.”
Merivale School principal Tom Paekau said Merivale was popular for its affordable housing and access to the city, surf and countryside.
Paekau said the school had 175 pupils in 2019 before it peaked at 196 last year.
“In Term 1 2021 we are already at 184, with numbers still coming in and three more terms to go.
“The roll has increased to the point that we are now needing more classrooms.”
The area’s demographic had changed in the past 12 months.
“There are a few more homeowners that have moved in but we have also had an influx of new families that are renting. It is a great neighbourhood with wha¯nau values who look out for one another.”