Here's what you could buy for the average Auckland house price

Wednesday, 17 October 2018

Why are Kiwi houses so pricey?

Aucklanders are still looking outside the city for a way into the property market.

The latest Trade Me data shows property asking prices on the site are up 2.3 per cent, year-on-year, to an average $645,250 for New Zealand.

The average asking price in Auckland bounced back in September following the winter slump, climbing 2.6 per cent on last year to $917,150.

Wellington reached a new record, up 12.3 per cent to an average $593,250.

* Tennis court in Auckland's North Shore listed for sale at $2.5 million

* The Block's winning house up for rent**

Head of Trade Me Property Nigel Jeffries said some Aucklanders were still considering moving to the halo regions to get a foot on the property ladder.

'In the last three months, 6 per cent of Aucklanders have been looking at property in Northland, 6 per cent have been looking at property in Waikato while another 4 per cent have been checking out for sale listings in Bay of Plenty,' he said.

Bindi Norwell, Real Estate Institute chief executive said feedback from agents indicated Aucklanders wanted to move elsewhere.

A stately Dannevirke villa for sale for about the median price of an Auckland home.

'We're still seeing a number of Aucklanders looking to the regions to purchase a property where their dollar stretches further than it does in Auckland. However, the number of people leaving Auckland is far less than we saw two or three years ago.'

Those who can apply an Auckland price to other parts of the market have a range of options.

A house described as a Picton landmark is listed at inquiries over $850,000 - the Real Estate Institute's median price in Auckland.

A Riverton guesthouse is for sale, with waterfront views.

The colonial villa has been split into three apartments and is set in formal gardens beneath a protected native forest.

A West Coast lodge retreat for sale by negotiation.

Or those who want a character home could view this five-bedroom Dannevirke villa set on more than three hectares.

It is listed as for sale by negotiation but Homes.co.nz estimates it is worth about $810,000.

You could pick up a three-bedroom, two-bathroom waterfront house in Tairua for $795,000.

It's advertised as a popular holiday let property.

Another waterfront option is a two-bedroom, two-level penthouse in Mangonui, in the Far North.

It has views of the harbour, Mill and Doubtless Bays, and has had its asking price reduced to $850,000.

At the other end of the country, those looking for a way to earn as well as somewhere to live might consider a Riverton guesthouse.

It has water views and is listed at $850,000.

Another home-and-income option is Carew Bay Lodge, at Lake Brunner, on the West Coast.

With an independent power supply, it's off the grid and could be home to two families, or part-rented to travellers.