SURGE IN HOUSE PRICES

More than $113 mil­lion in house sales for Waihi and Waihi Beach this year.

Waihi Leader - - Front Page - By CAR­MEN HALL [email protected]­hileader.co.nz

The Waihi and Waihi Beach real es­tate mar­kets have surged ahead as res­i­den­tial sales hit $113.3 mil­lion this year — more than the to­tal value reached in 2017.

Ex­perts say sup­ply is out­strip­ping de­mand in both lo­ca­tions and prices are stay­ing strong.

Fig­ures from the Real Es­tate In­sti­tute of New Zealand show in 2018, in Waihi and Waihi Beach 192 houses fetched $113.3 com­pared to 191 houses last year for $102.2m.

Data also re­vealed the av­er­age me­dian sale price this year for Waihi was $370,000 com­pared to $328,000 in 2017.

Mean­while the Waihi Beach me­dian sale price jumped to $750,000 this year from $720,000 in 2017.

Real Es­tate In­sti­tute New Zealand chief ex­ec­u­tive Bindi Nor­well says as prices con­tinue to go up in the ma­jor centres more and more Ki­wis were look­ing to re­gions and towns around the coun­try for both life­style and af­ford­abil­ity rea­sons.

“Places such as Waihi are close to the beach, have a com­mu­nity feel to them and of­fer peo­ple a life­style that they can’t achieve in the city. It’s also just un­der an hour’s drive to places such as Tau­ranga mak­ing it still within com­mut­ing dis­tance.”

Har­courts Gold Star Real Es­tate general man­ager Greg Shep­pard says the “Waihi mar­ket is very ac­tive at the mo­ment”.

“There is an in­crease in the land val­ues, which in turn has increased the cap­i­tal val­ues mak­ing prices higher than in pre­vi­ous years. Due to the lim­ited amount of land and lack of prop­er­ties avail­able in the cur­rent mar­ket de­mand is very high.”

“Waihi is very at­trac­tive to a num­ber of buyers due to the af­ford­abil­ity of homes com­pared to the cities. It is a cen­tral lo­ca­tion and has been at­tract­ing tourists for the bike trails and the min­ing tours. It has a fan­tas­tic com­mu­nity spirit with a lot of his­tory.”

Waihi Beach had be­come a de­sir­able lo­ca­tion be­cause it’s an easy drive from the main centres such as Auck­land, Hamil­ton and Tau­ranga and was play­ing catch up on the high prices of other Coastal towns such as Whanga­mata and Pauanui.

“The ser­vices and ameni­ties are avail­able in Waihi Beach which has pre­vi­ously been a hid­den se­cret. With buyers

mov­ing to Waihi Beach rather than liv­ing in the main centres to avoid the con­ges­tion of the cities.”

“My feel­ing is that Waihi Beach will be the next coastal town and will con­tinue to flour­ish for some time to come.”

Pro­fes­sion­als NRG Realty branch man­ager Peter Sher­man says there were ap­prox­i­mately 10 sales a month for 2017 and the pat­tern has con­tin­ued through 2018 which he ex­pected to con­tinue for the rest of the year.

“De­mand for prop­er­ties re­mains steady, sup­ply has weak­ened some­what so prices re­main strong.”

“I be­lieve that there was a long pe­riod of lit­tle growth and nega­tive growth dur­ing the pe­riod be­tween say 2008 and 2013 for many ru­ral towns like Waihi. I think many ar­eas and towns lost a lot of ground in terms of the rel­a­tiv­ity of their val­ues to Auck­land prop­erty val­ues. I be­lieve many ar­eas are still re­cov­er­ing some of that lost ground.”

Waihi of course has al­ways been an at­trac­tive his­toric, town with a loads of charm and char­ac­ter, was handy to three main centres and had a strong lo­cal econ­omy aided in no small part by the lo­cal gold-min­ing in­dus­try, he says.

Si­mon An­der­son, chief ex­ec­u­tive of Realty Group, which op­er­ates Eves and Bay­leys says Waihi and Waihi Beach have al­ways been pop­u­lar as big­ger ar­eas have tack­led increased growth over the years.

Waihi and Waihi Beach had also be­come more at­trac­tive due to af­ford­abil­ity, he says.

PHOTO / KIT WIL­SON

PHOTO / SUP­PLIED

Har­courts Gold Star Real Es­tate general man­ager Greg Shep­pard says the Waihi mar­ket is very ac­tive at the mo­ment.

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