Auckland in Australia has been one of the world’s property hotspots over the last few years, and the trend seems to be carrying on with double digit property value increases across the board.
Unlike previous booms the growth in the last two or three years had been spread right across Auckland. But which suburbs of Auckland have performed the best over the last year? Local real estate agency Barfoot & Thompson have compiled a top twenty list of the best performing suburbs of Auckland.
The list of top 20 suburbs is calculated using the greatest percentage of sales price growth, comparing median sale prices in each suburb during the same periods of 2017 and 2016.
Way out in front with an incredible increase of 64 per cent over the year is the sleepy seaside suburb of Beachlands.
New housing developments and a new shopping centre had brought increased population to Beachlands, but it is still very much a lifestyle spot.
Local resident Garry Larsen said of the area: ‘It has a special lifestyle because you have come through the rural area into Beachlands and when you’re there its completely different to town. You know you’re out of the hustle and bustle.’
During the January to June period 58 per cent of homes sold by Barfoot & Thompson had fetched over $1.2 million. The median sales price for the period was $1.34 million up from just $549,500 ten years ago in 2007.
Barfoot’s Thompson said: ‘Beachlands is an area of Auckland that many people appreciate for its beautiful beaches, almost rural feeling and tight knit community.
With the big development going on in Beachlands it was logical for it to be number one. Development in the area is attracting buyers and contributing to the sales price.’
Favona (near Mangere) had the second biggest rise, up 37 per cent on the same period last year. Whilst the upmarket area of Parnell followed close behind with a rise of 34 per cent over the last twelve months.
It was generally thought that the property boom in the Auckland area may have peaked, but it seems that prices continue to rise strongly across the board, and particularly if you pick the right area.
Overseas property investors considering Auckland should choose carefully.
Top 20 Auckland Suburbs
Suburb Increase from 2016
Beachlands 64 per cent
Favona 37 per cent
Parnell 34 per cent
Kohimarama 31 per cent
Northcote 29 per cent
Takapuna 27 per cent
Orewa 26 per cent
Greenhithe 25 per cent
Grey Lynn 23 per cent
Milford 22 per cent
Papakura 19 per cent
Sunnynook 18 per cent
Glen Innes 18 per cent
Pakuranga 18 per cent
Mount Wellington 16 per cent
Tuakau 15 per cent
Blockhouse Bay 15 per cent
Red Beach 13 per cent
Swanson 13 per cent
Remuera 12 per cent
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