My Account
Ray White Warkworth director Terrence Banks says first home buyers need to build a relationship with an agent if they want an affordable home in an increasingly scarce market.
School zones introduced to Mahurangi in 2017 have altered the property market as young families flock to the area – particularly in Matakana.
Local real estate agents Mahurangi Matters spoke to agree that the Warkworth School and Snells Beach Primary school zones are drawcards for property purchases, but Matakana School has more of a reputation.
Bayley’s Antony Shaw says the allure of Matakana School draws families from Warkworth to buy in to the zone to allow their kids to attend there, despite a limited housing stock.
RE/MAX Warkworth owner Ben Kloppers says families in northern suburbs such as Whangateau or Point Wells look to move to Matakana because it is on their way to work in Warkworth, whereas Leigh School would be a detour.
According to realestateinvestar.co.nz, the median house price in Matakana is $1.14 million, which is up 17 per cent in the last two years, but properties have sold for as low as $400,000 on Green Road.
Mike Pero’s Rick Law says he meets with young families every weekend who are looking to move from Auckland.
“Often they retain their jobs in Auckland and commute, but they want to get on the property ladder,” he says.
“Our market here is more buoyant than further north because of the constant top-up of the buying pool by young families.”
The median house price in Warkworth has increased to $870,000 in the last 12 months, up from $740,000 in the previous 12 months.
Terrence Banks says house prices in the area are quickly catching up with Auckland and the best deals are to be found in outlying areas, such as Ahuroa, Pakiri, Wellsford and Port Albert.
He says a popular option for first home buyers in north Rodney are cross lease properties. These have limitations on alterations, but are often more affordable.
Instead of subdividing a quarter-acre property, a cross lease allows multiple homeowners to take an “undivided share” of the property, and they are particularly common in north Rodney.
Terrence says increasingly parents are buying a share of their children’s first home and multiple couples pool together to buy a house to able to get into the market.
His advice for first home buyers is to build a relationship with legal, financial and real estate advisers as early in the process as possible.
“Make a list of what you are willing to compromise on and what you are not. Then your agent can build a profile of properties to look for.”
RE/MAX Warkworth property manager Tina Garland says the rental market is equally hot, with young families renting in the area before they buy.
“We can’t get enough rentals in Warkworth and Snells Beach for the number of enquiries we receive,” she says.
She says people are even willing to sign rental contracts before they have seen the property, but as a property manager she won’t allow it.
She advises contacting a few property managers two months before moving to get pre-checks done such as credit history, references and criminal record.
“Don’t wait for something to just come up, because you won’t get it. There’s too much competition.”
She says those looking for a stand-alone house to rent will have to get a three-bedroom home, which costs around $550 a week.
