The residential property market on the Hibiscus Coast has declined over 2008 and into 2009, with a reduction of approximately 10 to 15% in the median sales price, before starting to recover at the end of 2009 and then flattening into 2010.
Over 2005, 2006 and early 2007 the market had been buoyant, with average monthly house sales volumes of 100 sales, and a 40-day sales period. In 2008 to 2010 the market had lower sales volumes (average 51 sales per month) and longer sales period (average 62 days on the market).
Hibiscus Coast Residential Sales Statistics
for the month of September
| Year |
Median Price |
Total Sales |
Days to Sell |
| 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 |
| 2009 |
$450,000 |
64 |
46 |
| 2010 |
$467,000 |
54 |
41 |
Over the early to mid 2000’s a strong economy, positive immigration figures and neutral interest rates of around 7% were driving forces in the property market. In 2008 - 2010 market conditions deteriorated due to the recessionary economic climate, negative affordability issues and employment security.
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 adjoin the motorway.
Development of the new Silverdale North Town Centre is underway, with a new aquatic swim centre on Hibiscus Coast Highway. Future development includes a mixture of shop/office/apartment uses and a bulk retail complex on 'The Warehouse' land, opposite Stella Maris School.
Silverdale South
A structure plan for the area south of Silverdale township allows for a mixture of residential, business and entertainment uses, together with a proposed Park & Ride facility adjoining the motorway.
Orewa West
A structure plan for the area west of Orewa shows a range of residential development.
Gulf Harbour
Gulf Harbour has continued to develop with a number of developments including residential section, townhouses and marina apartments. Future plans include a new boat harbour with new town centre, restaurants, boutiques, beach and recreation area.
