Big news this week with Hastings headlined in the national news with the largest increase in median value in New Zealand being up 29.9% for the year. This was based on Hastings coming from a low base and starting to catch-up to its sister city Napier with the median value recorded at $500,000. The general feeling in Hawke’s Bay has been that Hastings is more affordable than Napier but due to demand this seems to be quickly evening out. Hastings is also looking amazing with vibrancy in the central CBD so evident with major construction giving a positive vibe to the east side of town. New bars are opening, with Brave brewing moving to bigger premises and the Hastings
Opera precinct due to be completed in early 2020, giving the central city a real arts presence.
Kiwibuild are back in the media also with the ‘new scheme’ to be announced this week. As we all know we have a national crisis on our hands with the shortage of rental properties and emergency housing, so whatever the government decide to do they need to ensure they action it and follow through with actual outcomes. No one said it will be easy but PLEASE don’t over promise and under deliver.
The Hawke’s Bay market continues to be very buoyant with buyers still out in large numbers. No matter how you cut the current global outlook I cannot see Hawke’s Bay property prices slowing down until the buyer numbers diminish. With the interest rate outlook at these record lows and population continuing to grow, we still have a very sunny outlook.
Tremains are right in the midst of our Spring Promotion with FREE digital and print marketing available should you list your home with us at the very best time of the year.
Had a great night last week raising money for ‘Nourished for Nil’ and then the following night helping chip away at the last $$ required for the community pool in Taradale. Both great causes and both grateful to have Tremains involved.
Rugby World Cup just around the corner which is very exciting. I will be watching from home so anyone who is making the trip to Japan have an amazing time. Great to see local lads Brad Weber and George Bridge making the squad – one from Napier Men’s and one from the Jaffa’s.
Have a great week.
– Simon Tremain