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House prices in north Rodney increased faster than in Auckland last year, according to the latest figures from the Real Estate Institute of New Zealand.
The figures show that between December 2014 to December 2015 the median sale price increased 15 per cent in north Rodney, compared with a rise of 13.6 per cent rise in Auckland.
In north Rodney, the median sale price increased by $85,125, from $550,875 to $636,000, compared with a $92,000 rise in Auckland, from $678,000 to $770,000.
Bayleys in the North director Mark Macky says the price rise has been driven by more people moving to the area and a lack of supply of land and housing.
“The secret is out about the quality of lifestyle up here and a lot of people are moving up,” Mr Macky says.
Mahurangi is nearly out of land for development and prices will continue to climb unless Auckland Council is able to make more land available for development, he says.
The sales volume in December 2015 decreased by 23 per cent compared with December 2014, from 48 to 37. This reflects the declining supply in the market, Mr Macky says.
About 750ha has been earmarked for development in Warkworth in the proposed Unitary Plan, but it will not become live zoned until at least 2022. Council needs to be looking to make land available now, he says.
“The big issue isn’t the next 30 years, but the next five.”
