2020 has been confusing for many people, and it left many wondering whether to save their money or invest in property in the Auckland Market. Auckland’s median house price has hit $1.14 million and there are some areas that are booming and on high demand due to its development capabilities.
Currently, the top growth areas of the Auckland Market are Onehunga, Avondale, New Lynn, Mt Roskill, Manukau, and Henderson, as these suburbs tracking to be on target to beat the 2021’s selling numbers.
• Panuku, an Auckland Council development agency, has invested in 600ha of property between downtown Manukau and Wiri, with plans for a new integrated rail and bus station, a new trade learning centre for Manukau Institute of Technology, and a walkable main street. Two hundred new residences have been finished, with another 200 under construction making it a real hot spot to invest in.
• Mt Roskill South's regeneration is well underway, with thousands of new homes under construction and an estimated 10,000 new homes to be constructed over the next ten years.
• Onehunga's growth potential is only expected to accelerate as the neighbourhood is centrally placed on Auckland's isthmus, with excellent connections in all directions, a rail station, its own shoreline, and a distinct communal vibe.
• Moreover, the Council’s goal for New Lynn, is to establish a distinct and sustainable urban centre capable of attracting and retaining 20,000 residents and 14,000 workers by 2030.
All the above 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 have been the best performing suburbs in the Auckland market since the 8-week lockdown in 2020. 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.
Many people who own a property in Auckland are now looking to use their investment by subdividing their land since medium density housing are becoming increasingly popular. Thanks to the Auckland Unitary Plan, many who own property in the Auckland market are now eligible to do just that.
Subdivision is basically one block of land, cut it in some way and turned into two blocks of land with separate titles. You may want to subdivide your land for a variety of reasons. It is possible that your residential portion has become too large for your requirements, or you own a farm or chunk of land that can be subdivided into lifestyle blocks or as your portion may have been rezoned, allowing you to subdivide presently.
Subdivision can be a bit of a process but our Subdivision Specialists at 3C Homes can assist you with the entire 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 finding 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.
Data referred to comes from https://www.colliers.co.nz/en-nz/news/ten-places-where-you-should-buy-in-2021 and https://www.oneroof.co.nz/news/revealed-nzs-hottest-first-home-buyer-suburbs-of-2021-38925
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