Above: This 3 bedroom Mairangi Bay home is sitting just above the current average asking price of $820,016 in Auckland. View the listing here: http://o2v.co/1Zi8
Skyrocketing. Raging. Through the roof. Out of control. INSANE!
All of the above have been used to describe the current Auckland Housing market. It seemed astounding around this time last year talking about the average asking price for Auckland hitting a new all time high record of $732,240.
Now for the first time, that has risen above the $800k mark, with realestate.co.nz reporting that for June 2015 the average asking price of an Auckland home is $820,016. That’s a $164,003 deposit you’ll need, and thats enough to have First Home buyers in Auckland running for the Bombay hills, which buy all accounts seems to be the case, with claims that Aucklanders are making up about 30 percent of attendance at open homes in Hamilton.
The average asking price suddenly seems less surprising once you start seeing stories like this: A West Auckland property which sold for 2.2million, $900k over its CV.
Even being able to access KiwiSaver contributions and HomeStart grants do little when the cap for Auckland homebuyers is $550,000 and anyone who has looked at any properties and been to an auction lately can tell you that there are very limited options under that price.
So… why not just leave? With Aucklanders are flocking to buy property in Tauranga, Hamilton and the Western Bay of Plenty, let’s see what the average Auckland house price (or close) might get you in some of those other regions.
Bay of Plenty
A stylish 4 bedroom, 2 bathroom ex-showroom in Papamoa Beach.
A 5 bedroom 3 bathroom lifsetyle property on 2.86 Acres featuring an entertainer’s kitchen with butler’s pantry, formal dining area and two lounges with bush and waterfall views.
A 4 bedroom, 3 bathroom home with pool and spectacular views over Maungakaramea and beyond to The Whangarei Heads and Hen & Chicks sitting on 6.63ha with 250 Avocado trees.
Enquiries over $749,00 will get you this fabulous 4 year old, 4 bedroom farmlet on 2.22 Acres.
So what do you think? Comparable, or much better value? Where do you sit? Are you a disillusioned, Auckland First home buyer? Perhaps a retiree, ready to make the most of the high Auckland prices,cash up and move to the regions? Or are you just a non-Aucklander sick of hearing about Auckland House prices?
Share your thoughts in the comments below, or on our Facebook page.