The residential property market on the Hibiscus
Coast has been particularly buoyant during 2003 - 2005. Over 2006
and early 2007 the market slowed slightly with reduced monthly
sales volumes (average 100 house sales), and longer sales period
(average 40 days) however, the average house price remained strong.
Hibiscus Coast Residential Sales Statistics
for the month of September
| Year |
Median Price |
Total Sales |
Days to Sell |
| 1995 |
$198,000 |
106 |
31 |
| 1996 |
$235,000 |
86 |
46 |
| 1997 |
$235,000 |
65 |
42 |
| 1998 |
$230,000 |
80 |
92 |
| 1999 |
$240,000 |
69 |
59 |
| 2000 |
$220,000 |
70 |
69 |
| 2001 |
$227,000 |
66 |
97 |
| 2002 |
$260,000 |
131 |
46 |
| 2003 |
$335,000 |
128 |
22 |
| 2004 |
$390,000 |
105 |
45 |
| 2005 |
$420,000 |
126 |
35 |
| 2006 |
$450,000 |
112 |
37 |
| 2007 |
$510,000 |
61 |
40 |
| 2008 |
$423,000 |
47 |
58 |
Over 2003 - 2005 a strong economy, positive
immigration figures and neutral interest rates of around 7% were
driving forces in the property market. In 2006 & 2007 rising
mortgage rates and declining immigration figures have had an effect
on the market.
Towards the end of 2007 and into 2008 the market
has declined with lower sales volumes, a reduced median price
and houses taking slightly longer to sell.
The Hibiscus Coast is a growing area, and its
coastal location, together with the proximity and access to Auckland
City will maintain its popularity.
House Rentals
Residential rentals have softened over recent
months with there being more residential vacancies.
Average residential rentals:
| 1 Bedroom |
$250-$270. pw |
| 2 Bedroom |
$290-$320. pw |
| 3 Bedroom |
$350-$450. pw |
New Developments
In general terms much of the Whangaparaoa Peninsula
has been developed so future growth will take place in the areas
between Silverdale and Orewa and the Northern Motorway.
Silverdale North
A structure plan for the area north of Silverdale
township opens the way for 3500 new homes, 2 new schools, shopping
centre, extensive reserves and a knowledge economy Business Park
adjoining the motorway.
Silverdale South
A structure plan for the area South of the Silverdale
township allows for a mixture of residential business and entertainment
uses, with the new indoor Snow Planet Ski Field and Luge developments.
Orewa West
A structure plan for the area west of Orewa
shows a range of residential development, together with a new
school in Maire Road.
Whangaparaoa Peninsula
The new library building at Whangaparaoa Plaza
Shopping Centre has been completed together with the nearby Whangaparaoa
College.
Gulf Harbour
Gulf Harbour has continued to develop with
a number of developments including residential sections, townhouses
and marina apartments. Future plans include a proposed new boat
harbour with new town centre, restaurants, boutiques, beach and
recreation area.
