In January 2000, the median house price in Snells Beach was $236,000. That grew to $828,800 by March last year. That’s an average annual growth rate of 6.4 per cent.
The most expensive suburb to buy a house in the wider Mahurangi area is Omaha, which has a median house price of $2,840,000. The most affordable suburb is Wellsford, which has a median house price of $699,000.
Over the last 21 years, of all the suburbs in Rodney, Helensville had the fastest-growing house price, at 6.97 per cent per year, which is 4.78 per cent slower than the median Auckland house price.
The suburb that grew the slowest over that period was Warkworth, which grew at a rate of 6 per cent per year, which is 17.98 per cent slower than the median Auckland house price.
Median prices for residential property across New Zealand increased by 28.7 per cent in the 12 months to June this year, from $637,000 to $820,000.
Over the same period, the median house price in the Rodney district reached a new record of $1,194,000.
The number of residential properties sold in June across New Zealand increased by 6.2 per cent when compared to the same time last year (from 6913 to 7345) – the highest for a June month for five years.
Real Estate Institute of NZ chief executive Jen Baird says house price rises continue to defy expectations.
“Buyers hoping for a bargain over winter might be disappointed,” she says.