August 19, 2020
2020 has been confusing for many people, and it left many wondering whether to save their money or to invest in property in the Auckland Market.
The top growth areas of the Auckland Market are Onehunga, New Lynn and Henderson with these suburbs tracking to be on target to beat the 2019 selling numbers. These areas are great for first home buyers and investors looking to expand their property. South Auckland is no longer being left behind in the Auckland property market. With a post-lockdown boom, these suburbs have seen a growth in sales that no one could have anticipated.
The best performing suburbs are those on the North shore. Murrays Bay and Devonport on Auckland’s north shore are the best performing suburbs in the Auckland market since the 8-week lockdown. These suburbs defied the downward trends seen elsewhere in the market, with the value lifting approximately 10%. These two suburbs both have median house values of 1.4 and 1.67 million, respectively.
Another hot spot in the Auckland market is Blockhouse Bay, with the median house price just below a million and a growth of 10% during the lockdown period. Real estate agents operating in Blockhouse Bay say the Auckland suburb is popular with movers and first home buyers, being the largest buying group city-wide since lockdown.
Subdivision as an option. Many people who own a property in Auckland are also looking to make use of their investment by subdividing the land they already own. Thanks to the Auckland Unitary Plan, many who own property in the Auckland market are now eligible to do just that. Subdivision can be a bit of a process, but our Subdivision Specialists at 3C Homes can assist you the whole land subdivision process.
If you own property in one of the hot spots of the Auckland market or are looking at making a profit on a property you own, feel free to download our Free Subdivision eBook to help answer any questions you may have. At 3C Homes, we pride ourselves on being able to find that perfect balance of quality, cost and time to suit your project. We will help you define your vision and design an energy-efficient sustainable home to suit your family needs.
Note: Data referred to comes from https://www.oneroof.co.nz/news/aucklands-hottest-growth-suburbs-revealed-38201 and https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12352863