homes.co.nz Monthly Property Update – August 2019

Are Kiwis still moving from urban areas to lifestyle properties in the city fringes? Buying a lifestyle property still appears to be popular with over 2,200 lifestyle properties sold in 2019 to date.

The towns where lifestyle properties form the highest percentage of the town’s housing stock are highlighted above*, but this new lifestyle comes at a cost. Lifestyle properties just outside of Auckland in Helensville and Kumeu cost $460k and $849k respectively more than others in the towns. These are also significantly more than the median Auckland HomesEstimate of $885k. *Note these are limited to towns with at least 1,500 total properties. 

Below are examples of the highest value lifestyle properties sold this year.

Below are examples of some bargain lifestyle properties sold this year.


Trends in our Main Cities

This month all the main centres have continued to see an increase in median HomesEstimates apart from Auckland which has dropped 3.1%. Wellington and Dunedin continue to show strong growth with median HomesEstimates up by 10.1% and 12.9% respectively.

NZ’s First Home Buyers HomesEstimates

Established in 2013, homes.co.nz is NZ’s first free property information portal eager to share free property information to New Zealanders.

How do we calculate these figures?

The homes.co.nz Monthly Property Update is generated using homes.co.nz’s monthly HomesEstimates and provides an up-to-date perspective on house values around New Zealand. By valuing the entire housing stock, the homes.co.nz Monthly Property Update can compare median values from month to month in a consistent and reliable way. Our HomesEstimates are calculated for almost every home in New Zealand by an algorithm that identifies the relationships between sales prices and the features of a property.

The homes.co.nz Monthly Property Update is generated using homes.co.nz’s July 2019 HomesEstimates, providing an up-to-date perspective on house values around New Zealand.

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The Data Team - homes.co.nz (Tom Lintern - Chief Data Scientist)

About the author

Tom Lintern is homes.co.nz’s data guy and is in the know when it comes to the property market. If you have a burning question for the homes.co.nz data team, send it through to insights@homes.co.nz and we’ll take a look!