Waikato's housing market is back in business, with Aucklanders taking an interest in the region as they seek opportunities in the south.
The latest data from RealEstate.co.nz revealed that the average asking price in Waikato is now $667,517 – a $70,000 increase in only 12 months. The website's traffic revealed 62,383 searches for Waikato properties last month, with 37% of inquiries from Aucklanders.
“The Waikato is such an easy commute to Auckland, especially when you look at the North Waikato,” said Vanessa Taylor, the spokeswoman for RealEstate.co.nz, as reported by Stuff.
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Cambridge, Raglan, and Te Awamutu received the most attention on the website among the Waikato towns.
“With this culture change around more people working from home, people can work from home for two or three days a week. They can have the Waikato lifestyle and also continue to have a corporate job [in Auckland],” Taylor said.
Jeremy O'Rourke, the managing director of Lodge Real Estate, said Aucklanders are keen to move to Waikato because of the region's competitive pricing and “enviable lifestyle.”
“You’re seeing more people interested in sport, and they just want to escape the confines of a big city. And for those on a fixed income, obviously, their money goes a lot further here,” O’Rourke told Stuff.
Brian King, the general manager of Harcourts Hamilton, added: “Talking to our commercial boys, you've also got a lot of Auckland businesses coming here, and they're all bringing people with them.”
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Simon Lugton, the managing director of Lugtons, said the number of sales in June 2020 had surpassed the same month last year, which may have been driven by the market's comeback from COVID-19 restrictions.
“May is often a very, very high month for sales and because that was impacted by the lockdown, all those sales really got pushed into June and July,” Lugton told Stuff.