It is a key place of interest for Aucklanders
Waikato has become increasingly popular after the lockdown despite being New Zealand’s fifth most expensive region, with Aucklanders flocking towards the area, according to Century 21 New Zealand.
Century 21 New Zealand’s branches in Waikato are seeing many Kiwis, particularly Aucklanders, moving to the region after the lockdown.
“After the experience of lockdowns, many people realise they can work remotely and effectively from home, with more employers willing to enable it,” said Century 21 New Zealand owner Derryn Mayne.
Latest figures from the Real Estate Institute of New Zealand (REINZ) revealed that Waikato had seen another record median house price at $655,000 in October, up by 15.9% from the same month last year. Sales volumes also increased by 30.4% year-on-year, with 961 properties sold – the highest number of sales in over four years, and the highest for an October month since 2003.
Mayne expects higher sales in Waikato in November as it remains affordable compared to Auckland, which recently recorded a median house price of $1 million.
“Waikato is giving many Auckland families the opportunity to free up some capital or reduce their mortgage while still being in striking distance to the super city for weekly meetings,” she said.
“As well as plenty of good schools in Waikato, many are seeking an easier lifestyle. Let’s not also forget that in this COVID-19 world, some people – particularly those over 70 – are now also wanting a bit more human space.”
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The Waikato District Council is responsible for managing growth within its area, which is mostly north and west of Hamilton. The district is expected to swell from 73,600 people to around 103,000 by 2045.
“Hamilton property was undervalued up until about five years ago. Then, it started climbing and hasn’t stopped. That has had a flow-on effect to neighbouring towns and lifestyle blocks as demand grows,” Mayne said.
“While Waikato is by no means cheap anymore, the region continues to offer many Auckland families and retirees the chance to get ahead and enjoy a great lifestyle. With Auckland’s median price hitting seven figures, many are now actively eyeing the regions, which will only continue.”
