Is the time ripe for your clients to buy into lifestyle property?

by Maya Breen23 Sep 2015
Having a lifestyle property to call your own is becoming increasingly popular in New Zealand, according to the latest statistics from The Real Estate Institute of New Zealand (REINZ).

Sales volumes rose by 46.7% (+675 sales) in the three months to August 2015 compared to August 2015, with an increase recorded across all regions.

“In national terms, the lifestyle market continues to go from strength to strength, with record volumes for the current three month period and record prices in a number of regions,” says REINZ rural spokesman Brian Peacock.

Auckland had the largest increase in sales (+211) from June to August compared to the same last year with Waikato also up by 153 sales and Northland by 134 sales.

Strong activity throughout the wider Auckland/Northland region, including numerous multi-offers and solid levels of listings points to a busy spring period and reveals more buyers interested in properties between $1.5m to $2m south of the city.

Nationally, the median price for lifestyle blocks went up by $34,490 (+6.8%) from $510,510 for the three months to August 2014 to $545,000 for the three months to August 2015.

In Auckland, median prices rose by $77,500 (+8.9%) from $872,000 for the three months to August 2014 to $949,500 for the three months to August 2015.

Across the year to July 2015, the unconditional sales of lifestyle properties jumped to 7,437, an increase of 16.9% (+1,076 sales) over the 12 months to August 2014. 

COMMENTS

  • by Stuart 23/09/2015 12:30:25 p.m.

    Many lifestyle blocks in areas like Kumeu have been sold recently to make way for housing. Some of those properties had been in the same family for many years, but the prices and changing landscape meant in made sense to sell.
    Of course many of those who have sold have then purchased another lifestyle block elsewhere so I can fully understand that this market has increased.

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