Mangawhai property on the rise

 

Local sources and the latest Quotable Value (QV) report indicate strong growth in real estate prices in and around Mangawhai.

It now appears the eastern Kaipara is gradually breaking free of the shackles of the world financial downturn and the stigma of the local EcoCare affair with sales in Mangawhai Heads showing a 10.5% increase over the past two years to an average of $565,000.

While a small number of high-end sales may distort these figures slightly, sale numbers generally have continued to rise.

On the back of general optimism and promising growth evidenced by the latest census figures, Mangawhai is again coming in for re-newed attention from those who want to leave the city just a little way behind.

A number of section sales have recently been completed in Kaiwaka while Wellsford is also attracting greater attention as, despite the traffic problems during holiday periods, it still remains a focal spot on State Highway 1 and its proximity to Auckland City, Whangarei and the Far north make it a potential business hub for many. As the enquiry is obviously out there, then the pluses outweigh the minuses despite recent mortgage interest rate rises. These, on one hand, are designed by financiers to slow the rate of inflation, though on the other, real estate factions consider the move will stymie growth, especially in the area of new buyers to the market. In the end supply and demand generally sets the trend and buyers of all classifications are seeing the north as an ‘affordable’ option.

Time will tell though it is expected there will be some easing later in the year to restrictions on finance for first home buyers.
Many will be pleased to know their proper-ties may again be creeping back towards those pre-2010 levels but with that comes an increase in valuations then an inevitable increase in rates which may not sit entirely well with some.

With the growth of business and industrial areas in Albany and Silverdale, many commuters are now not having to cross the Harbour Bridge for employment with ease of travel an added incentive.

Mangawhai apart, the most expensive area further north is One Tree Point which recorded a 1.9% increase in the first quarter of this year while on the other end of the scale Dargaville recorded a two year movement of -0.1%, and Kaitaia -7.5%.

With the general election barely 90 days away, housing availability and affordability is set to be-come a major issue for many this time around.