[ad_1]
The dream of the kiwis: the house, the bach and the boat are becoming a luxury that few can afford.
Home prices in some vacation spots are skyrocketing as more families choose to make the bach their permanent residence after a year of uncertainty, closures, and the realization that working from home could also mean working from the beach.
Median home prices in popular coastal cities have risen by more than 50 percent compared to the same period last year, according to the latest data from the New Zealand Real Estate Institute (REINZ).
Dean Kozanic / Stuff
Median home prices in some vacation spots increased by more than 50 percent compared to the same period last year, according to REINZ.
The unofficial winner of the Christmas Hotspot Popularity Contest is Akaroa, a small town on the Banks Peninsula, just an hour and a half drive from Christchurch.
READ MORE:
* Auckland land sales increase 44% and experts say prices will continue
* Work From Home Behind Rising House Prices Outside Auckland – Expert
* Homes in Gisborne sell for 71% more than CV, says Reinz
Akaroa, home to some 750 permanent human residents and 1,000 vulnerable Hector dolphins nationwide, had the strongest median price increase of any vacation spot in the country of 58 percent. Its median skyrocketed from $ 525,000 during the three months ending in November 2019 to $ 830,000.
Second largest increase in North Island coastal city
In the summer months, Waihi Beach is flooded with tourists and runaways from the city of Auckland, Hamilton, Coromandel, Tauranga, and the Bay of Plenty in general.
The many bush walks to the waterfalls and pohutukawa laden bays attract all lovers of classic kiwi vacations.
It’s no wonder the North Island beachside village destination saw the second-largest median price increase of 50 percent.
Christel Yardley / Waikato Times
Waihi Beach, the beachside village destination on the North Island, saw a median price increase of 50 percent YoY from $ 700,000 for the 3 months ending November 2019 to $ 1,050,000.
Property prices in Waihi Beach increased year-over-year from $ 700,000 to $ 1,050,000, and sales volumes also increased significantly. Only 14 sales were made to the white sand destination during the three months ending in November 2019, compared to 40 for the same period in 2020.
“Waihi Beach is the quintessential kiwi,” said Portia McKenzie, who moved to the city with her husband Cameron and their 11-year-old son Koen from Rotorua in 2018. Travel of things: “Sand in your hair, bare feet in Four Square, biking to the dairy for ice cream and street barbecues at the end of the cul-de-sac with the neighbors.”
REINZ CEO Bindi Norwell said that beach destination vacations have always been an important part of Kiwi culture and this year’s research on vacation hotspot prices shows demand has increased. in 2020.
“This is no surprise, considering that vacation abroad is not an option for many New Zealanders this year, and Kiwis are looking to our own shores for a longer-term option.
“Additionally, with the various roadblocks New Zealanders have experienced this year, we have noticed that individuals and families have taken a closer look at their living situations and some have decided that they now have the option of relocating to a beachside destination. . and working remotely, or having a secondary / vacation home that they can ‘escape’ to, in case we find ourselves in a similar lockdown situation again, ”he said.
Christel Yardley / Waikato Times
Waihi Beach’s sales volumes also increased significantly from 14 sales for the 3 months ended November 2019 to 40 sales for the 3 months ended November 2020.
However, the prices of vacation homes have not gone up across the board.
Prices in the Onetangi north shore settlement on Waiheke Island fell 17% from $ 1.1 million in 2019 to $ 921,000.
This is likely due to the fact that many properties in Waiheke have been used as AirBnB properties and may not have had the same returns throughout the year, meaning that the owners are choosing to sell.
Fourteen properties were sold in the small community this year, double the seven that were sold in 2019.
New Zealand’s most expensive vacation hotspot, Omaha, also saw an overall average price increase of 22%, from $ 1.76 million to $ 2.15 million in 2020.
However, this was down from a peak earlier this year of $ 2.35 million in April.
Oscar Leo Bezzant
Although prices fell at Onetangi’s Waiheke location, sales volumes increased from seven for the three months ending November 2019 to 14 for the three months ending November 2020.
Other vacation towns that enjoyed a significant 20% more increase in their median prices were: Arrowtown (up 27% to $ 1.56 million); Mangawhai and Mangawahi Heads (up 28 percent and 24 percent, respectively, to $ 765,000 and $ 875,000); Mount Maunganui (up 25 percent at $ 940,000); Papamoa Beach (up 23 percent at $ 875,000); Taupo (up 25 percent at $ 550,000) and Whangamata (up 26 percent at $ 950,000).
But if the summer vacation makes you think you might be in the market to make the family campsite a bit more permanent, there are some cities where prices have gone up, rather than up.
Prices on the Banks Peninsula increased 6 percent from $ 495,000 to $ 525,000 and in Waipu just 4% from $ 760,000 to $ 790,000. Happy bach scouting.
