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Seaside suburbs attract highest house prices in Auckland

The call of the sea is seeing Beachlands pull the hottest house prices in Auckland.

In the last six months, the median sales price in the beachside suburb rose 64 per cent to $1.3 million, from $815,000 in 2016.

The median sales price for the area has more than doubled in the last 10 years.

Beachlands has taken out the top spot in Barfoot & Thompson's list of top 20 Auckland real estate suburbs.

Barfoot & Thompson director Peter Thompson said: "Beachlands is an area of Auckland that many people would appreciate for its beautiful beaches, almost rural feeling, and tight-knit community. It has taken the lead from Mission Bay which previously topped the list.

"Development in the area is attracting buyers, and this is contributing to the increase in sales price."

The list is calculated by comparing median sale prices in each suburb during the same periods of 2017 and 2016 and ranking them by the greatest leap in sale price.

Favona, near Mangere, came in at number two with a 37 per cent increase in house prices to $835,000 from $610,000.

Parnell was third, Kohimarama fourth and Northcote came in at number five.

But Takapuna came in number one for the biggest jump in sales price over the last 10 years.

Takapuna house prices have almost tripled since 2007 from $540,000 to $1.6m.

Barfoot & Thompson Takapuna manager Nicky Rhodes said the suburb's diversity of properties is why it remained one of Auckland's most desirable suburbs.

"Despite its reputation for multi-million-dollar luxury beachfront homes, Takapuna actually provides many accessible options for buyers," Rhodes said.

But sales volumes across the country have continued to decline.

Recently, Real Estate Institute figures show Auckland's median price is up just 2.5 per cent, year-on-year, while the rest of the country has advanced 11.4 per cent. Auckland prices dropped 0.8 per cent between May and June.

In July 2015, Auckland house prices were increasing at a rate of 27.1 per cent.

Real Estate Investar Editor
Real Estate Investar Editor
Real Estate Investar provides intelligent software, tools and data to help you save time and make money in the residential property investment market.

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