Hawke’s Bay’s median house price has risen to $444,000, but there still remains a wide range of pricing across the district – with $407,000 separating the cheapest area from the most exclusive.
After a flurry of buying activity, Taradale last month surpassed Ahuriri as the region’s priciest suburb, with median prices rising $45,000 in a month to a new high of $597,000 – well up on last year’s median of $515,000.
Median prices in Ahuriri fell $10,000 over the month to $590,000.
Flaxmere remained the most affordable place in Hawke’s Bay, with the average price for a house there just $190,000 – the same as it was two years ago.
Houses in the Ruataniwha ward in Central Hawke’s Bay jumped the most over the year, with the $285,000 median price there up 54.1 per cent on last year.
The Hastings-Havelock North ward saw the most activity. A total of 76 houses sold there last month, more than double any other ward. Medians there hit $455,000 last month, up from $342,000 last year.
Bayleys Hawke’s Bay operations manager Kerry Geange said in Taradale a number of buyers now were locals upsizing or downsizing, having realised the market prices were the new normal.
“What’s been interesting about Taradale in particular, is that it’s very attractive to families. We are getting a lot of people moving internally in the region, upsizing and upgrading to properties in Taradale.”
Mr Geange added that suburbs historically unappealing to buyers were more appealing due to prices.
“What you will find is that those areas over time will see the average price increase. The people moving in are usually doing renovations, improving the value or looking to flick those on to other first-time buyers.”