Median sale prices up 24% in Auckland's top 20 hot spots

Our latest top 20 property hot spots list is out now, showing a $215,000 median annual increase and with North Shore and coastal areas dominating the list.

Highlights

Top 20 hot spots median sale price up $215,000 (24%) in 2016
Mission Bay up 53% ($620,000)
North Shore and coastal areas dominate the list, featuring 6 and 12 times respectively.

Median sales price increases by $215,000 in Top 20

Our list of Auckland's top 20 suburbs is based on greatest percentage of value growth, comparing median sale prices for 2016 with 2015.

In the top 20 list, the median sales price* was up $215,000 (24%) in 2016 from the year before, according to data on our sales.

By contrast, in some areas outside of the top 20, median sales prices were lower than the previous year. In Freemans Bay (last on the list at #113), the median sales price was $554,000, down 54% or $661,000 from $1,215,000 in 2015. In 2016, 122 sales were completed in the area and were mostly apartments, compared with 22 sales in 2015, mostly made up of traditional standalone homes.

"There is a building boom in Auckland. People are also investing in and renovating before they sell. The result is more apartments, and new or higher-end homes. If any of these things are happening in an area, it will affect the median sales price," says Peter Thompson, Managing Director of Barfoot & Thompson.

North Shore and coastal suburbs dominate list

The list features 12 coastal suburbs, with areas beyond the traditionally popular inner-city suburbs. 18 suburbs are new to the Top 20, with value gains across high and low-end suburbs.

Six North Shore suburbs - Takapuna, Belmont, Castor Bay, Rothesay Bay, Albany and Browns Bay - feature in the list, the most of any Auckland region. Takapuna was the North Shore's hottest suburb with the median sales price up 37% or $365,000 from 2015 ($1,355,000 vs $990,000).

Mission Bay takes first place again

Mission Bay took the number #1 spot with its median sales price up 53% to $1,787,500 and $620,000 higher than in 2015. The remaining top 20 increased between 22% and 37%, or $120,000 to $432,500.

"Real estate sales prices continued to rise throughout 2016, with the rate of increase slowing slightly towards the end of the year. Mission Bay increased by around a third more than any other area."

Beyond the central suburbs

Many central suburbs which showed strong growth in 2015 dropped down the list. Orakei fell from its #1 spot in 2015 to #108 ($2,109,947 vs $2,050,926; 38 vs 27 in sales).

"Over time, different areas have their time in the sun. The rise and fall of suburbs in the list demonstrates the cycle of growth. While January sales data shows Auckland prices are steady, growth may have peaked for now in some areas whilest others may continue rising."

"A definite trend is growth in areas outside inner city suburbs, particularly the North Shore last year. Buyers are looking further out and perhaps trading off a central location for other lifestyle factors."

Auckland Hot Spots list - the Top 20

Please scroll data

		Number of sales		Median sale price		Value growth comparison 2015-16
		2015	2016	2015	2016	$ Difference	% Difference
1	Mission Bay	48	36	$1,167,505	$1,787,500	$619,995	53%
2	One Tree Hill	50	42	$850,000	$1,165,000	$315,000	37%
3	Takapuna	117	71	$990,000	$1,355,000	$365,000	37%
4	Belmont	29	34	$865,000	$1,175,500	$310,500	36%
5	Lynfield	36	31	$895,000	$1,200,000	$305,000	34%
6	Castor Bay	30	20	$1,275,000	$1,707,500	$432,500	34%
7	Grey Lynn	84	51	$1,025,000	$1,356,000	$331,000	32%
8	Mangawhai Heads	47	45	$485,000	$637,000	$152,000	31%
9	Kohimarama	55	35	$1,050,000	$1,375,000	$325,000	31%
10	Rothesay Bay	34	27	$1,025,500	$1,337,000	$311,500	30%
11	Royal Oak	41	56	$821,000	$1,057,500	$236,500	29%
12	Albany	416	251	$990,000	$1,272,000	$282,000	28%
13	Cockle Bay	41	21	$950,000	$1,212,500	$262,500	28%
14	Sunnyvale	71	61	$550,000	$700,000	$150,000	27%
15	Browns Bay	170	133	$873,500	$1,110,000	$236,500	27%
16	Weymouth	50	45	$507,000	$630,000	$123,000	24%
17	Helensville	27	20	$559,000	$694,500	$135,500	24%
18	Meadowbank	62	77	$964,500	$1,189,000	$224,500	23%
19	Bucklands Beach	75	54	$1,020,000	$1,252,500	$232,500	23%
20	Manukau Central	61	34	$553,000	$673,250	$120,250	22%

*Median sale price (the middle price among sales in each suburb) was chosen over average sale price to provide a more balanced and reliable view of value growth. Due to the smaller groups of sales suburb by suburb, averages would have been more vulnerable to the impact of any particularly high or low value sales. The list excludes rural sales, sections, sales of $5 million and above, and suburbs with less than 20 sales during a twelve month period.

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