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No 'doom or gloom' with Waihi beach property prices

Contributor:
Fuseworks Media
Fuseworks Media

Waihi Beach property market shows no sign of slowing down as the bustling beachside village continues to witness solid growth as people who have had enough of living in a city seek a lifestyle change.

"Despite the recent doom and gloom commentary about the property market, Waihi Beach continues to offer a ray of light with $101,265,444 worth of property being sold over the last 12 months," said Mr Gary Alway, owner of local real estate market leader LJ Hooker Waihi Beach.

In April 2022 the median sale price of a property in Waihi Beach was $1.47 million up 10.9% on a year prior and up 136% from three years ago. The median listed price was $1.4 million with the median days to sell sitting at 35 days.

"We believe there continues to be reasonable value growth in the Waihi Beach property market, and despite the current market uncertainty being fuelled by negative commentary, we are seeing new builds and construction projects occurring in Waihi Beach with simple baches being turned into multi-million-dollar beach front homes." said Mr Alway.

"With prices over the last 12 months ranging from $356,000 to $4,050,000 covering 62 sales, the median sale prices for a 2-bedroom property in Waihi Beach is now $1.17million, with a 3 - 4-bedroom property sitting at $1.25 million and $1.56 million respectively. It is taking less than 40 days for properties to sell in Waihi Beach.

"If you’re wondering what the price of a 5-bedroom property is in Waihi Beach, you are looking north of $2.3 million," said Mr Alway.

The Real Estate Institute of New Zealand (REINZ) House Price Index data show that year-on-year the housing market value has lifted 3.7%, up in Auckland by 0.6% and outside of Auckland by 5.8%.

"Waihi Beach is fast becoming a haven for people from Auckland, Tauranga, and Hamilton seeking the ability to work more from home while also appreciating that hard-to-find laid-back Kiwi beach holiday experience," Mr Always said.

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