There have been significant large projects announced in Whangarei over the last year, in addition to the Hundertwasser
there are plans to bring Cruise ships into the growing Whangarei port, with the first ship to coincide with the opening of the new Art
centre. (Read more).
To add to facilities for visitors and for local business a large hotel and conference centre is in the planning phase as are further expansions
to port facilities and capacity.
The Whangarei District Council have announced their proposed urban plan changes which see areas of high-density housing being permitted. This plan is under
consultation and could take until the end of 2020 to be finalised. There is no
doubt however that the council are planning for significant growth. Whangarei
is living up to its potential as a commercial hub, assisted in a few key areas
by the regional development fund. Being close to Auckland, with tourism business increasing, and these significant
investments in infrastructure under development, it is an exciting time in the
As with elsewhere in the country the building industry (even putting aside the
insulation installers) is extremely busy and most tradesmen are currently
indicating around a 6 week delay to start any work. Getting quotes for work is
also taking longer than what we are used to in this area. A busy construction
sector is in my opinion great news and speaks to growing confidence in the
future of this lovely part of New Zealand.
Whangarei Property News
Whangarei property market news, stats, case studies and more, periodically delivered to your inbox.
The market in Whangarei is seeing a typical winter reduction in the number of
listings. Vendor’s price expectations have risen given the significant gains
achieved in recent years and continuing demand in the area is supporting these
prices. Properties in the 400K range are
moving fast when they are listed with more expensive listings sitting longer on
The latest OCR rate announcement and the changes to bank requirements are
starting to impact and driving the quick turnover of the lower cost homes. The
rental market continues to be challenging for tenants and good for investors
with little sign of this easing. Yields remain solid with 6+ % readily
available as a shortage of rentals persists. Value add properties continue to
be listed and offer great opportunities.
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As an accountant is not a place for my personal political opinions, but professionally speaking I’m pleased with this result, and cautiously
optimistic we might have a friendlier tax environment for the property sector for at least a few years. But what does this mean for property