As locals, we have known for a very long time that the Bay is New Zealand’s best-kept secret. However, it is now hardly a secret as more and more people flock to the region for our fantastic climate, better lifestyle and accessibility to major centres. It is not just Aucklanders making the move, we are seeing people coming in from all over the country and the world. The statistics certainly reflect this trend with the Hawke’s Bay median house price showing a rise of 57 per cent from September 2015 of $279,000 to a record high of $438,000 for the month of January. In fact, Hawke’s Bay is one of the provinces leading the country in terms of rise in house prices, growing almost 18 per cent in the past year in comparison with Auckland’s growth rate of just 2.2%.
At the higher end of the market, the number of Hawke’s Bay homes selling for over one million dollars rose by a similar margin of 58 per cent since 2016, the third highest increase in the country. The dramatic rise comes off the back of the shift of the entire market, properties that used to be worth $800,000 are now worth $1.3 million in our new market – not a bad return on investment for property owners who bought pre-2016. The arrival of Aucklanders and other migrating city dwellers is also positively impacting our economy, meaning more money is being spent in our bars, restaurants and shops and more relocating businesses are providing a greater number of jobs in the region. It is great to see and you can definitely feel the new energy in our local economy.
At Tremains, our agents are certainly busy out there in the market. We have just launched our new Autumn Campaign and with it some fantastic deals on our marketing packages, tailored to ensure your property is showcased to both local and national buyers through a range of marketing platforms.
If you have a property you have been sitting on and wondering when the right time to sell is, I would say right now while the market is still on an upward incline and buyers are competing hard to secure property. No-price marketing is the way to go currently, with excellent prices being achieved in this competitive environment.
On a community note, we saw the Tremains Art Deco Festival draw to a close two weeks ago, another fantastic festival organised by the Art Deco Trust and one that, as locals we can be very proud of.
And the Tremains Triathlon is only a few weeks away on Sunday, 11 March, just enough time to squeeze in some training before the event. Don’t worry if you are not a competitive triathlete, most of us aren’t! This event is all about having fun and participating – remember, you need only do one leg, not all three – so it’s your choice between a swim, kayak, SUP boarding, running or cycling. We have a new course this year, providing a safer environment that allows for more participation from spectators and, of course, enough space for your team or workplace to pop up a marquee, get the BBQ sizzling and crack into a few cold drinks post-tri. A perfect set-up for some bonding with your workmates, family and friends. For more information, check out the Tremains Triathlon page on our Tremains website or Facebook page.