Property Prices Double

 

National average asking price.

Property prices double in a decade in most New Zealand regions

Property Prices

Kawerau in the Bay of Plenty was top of the table for five consecutive years, and Auckland’s Hauraki Gulf Islands almost tripled in price. 

Despite the fall in property prices last year, the latest data from realestate.co.nz proves that prices inevitably go up in the long run. 

In the ten years to 2023, the average asking price in every New Zealand region has increased, with 12 of 19 regions at least doubling and the remaining six increasing by at least 50%. Of our 76 districts, 36 have increased by at least two-fold*, while a further six were up by more than 90%. 

Nationally, the average asking price was up by 77.5%, increasing from $504,388 in 2014 to $895,289 in 2023. 

Sarah Wood, CEO of realestate.co.nz, says the data underscores a resilient real estate market:

"We saw the market go through a correction in 2023 after rapid growth during the previous few years. Despite prices dropping back last year, they are still up substantially in most places when we compare them to the years before COVID-19 ignited the market.

“It’s welcome news for the vast majority of Kiwis whose biggest asset is their home that although we will see peaks and troughs, prices are continuing to trend upward over the long term.”

In the decade leading up to and including 2019, only one district doubled, and some even saw prices go backwards – Whakatane (down by 33%), Waitomo (down by 20%), and Grey (down by 11%). 

A new decade in 2020 brought new levels of growth, with prices in almost all districts increasing over ten years and three doubling – Kawerau (up by 132%), Central Hawke’s Bay (up by 108%), and Hamilton City (up by 102%). 

But it was 2021 and 2022 that brought the biggest changes to prices, with a substantial number of places doubling in ten years. In 2021, 34 of our 76 districts had doubled in the past ten years; in 2022, more than half had doubled (43 out of 76). 

“This unprecedented growth can be attributed to several factors, including low interest rates, population growth, and limited housing supply, which have combined to create a competitive market environment,” explains Sarah. 

One of the areas to benefit the most from price hikes over the growth years is Wanaka. In the decade up to 2019, Wanaka was the slowest-growing district in the Central Otago/Lakes region, up 23% from 2010. Prices in the district didn’t double in ten years until 2022, when prices went from $906,387 in 2013 to $1,966,673. This trajectory continued into 2023, which saw Wanaka achieve the largest ten-year growth in the region, hitting an average asking price of $2,012,974.

Kawerau tops charts for five years running.

The Bay of Plenty township of Kawerau has seen the most significant growth, increasing by 261.2% during the past decade.

While it remains New Zealand’s lowest-priced district, with an average asking price of $443,093 in 2023, this has almost quadrupled from $122,665 in 2014. 

Wood says it’s the fifth consecutive year Kawerau has seen the biggest decade growth.

“In 2019, the first year we analysed this data, Kawerau was the only district that had doubled in 10 years, up by 112% on 2010.

“Since then, it has achieved the biggest growth in average asking prices every year compared to the ten years prior.”

Tania Humberstone, a spokesperson for Kawerau District Council, says enabling new housing options in the area has been a council priority over the past seven-plus years, spurring demand.

“Our housing strategy is committed to its vision of creating vibrant, sustainable communities that cater to diverse needs.

“Kawerau remains a valuable market, offering an incentive for people to return home to purchase homes, or to embrace more flexible working arrangements and move away from more populated nearby areas such as Tauranga.”

Following Kawerau, the Hauraki Gulf Islands saw the next biggest increase in prices in the ten years to 2023.

Made up of Great Barrier, Kawau, and Rakino, these islands within the Auckland region increased by 171.8% from an average asking price of $713,123 in 2014 to $1,938,342 in 2023.

The Hauraki Gulf Islands were the only Auckland district to double in ten years in the past decade. 

At the other end of the scale, the districts to see the smallest ten-year growth are all within the Canterbury region: Selwyn (up by 39.2%), Ashburton (up by 40.5%), and Waimate (up by 40.9%).

The change in average property prices and percentage change between 2014 v 2023 in Nelson and Tasman are as follows:

Average asking price:

DISTRICT	2014	2023	CHANGE IN %  2014 V 2023
NELSON & BAYS	$464,683	$897,411	93.1%
TASMAN	$614,915	$1,038,764	68.9%
NELSON	$451,042	$861,792	91.1%

Press Release: Realestate NZ

Pigeon Post News, Richmond.

WATER RESTRICTIONS CHANGES

 WATER RESTRICTIONS

With the dry weather consuming the Tasman District the Dry Weather Task Force Convenor Kim Drummond said, “all the regions’ rivers and aquifers are in various stages of decline, with some at or about the mean annual low flow and others just above this flow.” As a result, it’s in our interest to take note of the latest press release concerning water restrictions released today and printed below. Kim Drummond has added, “as we’ve said previously, the efforts of everyone to minimise their consumption has been greatly appreciated and our data has demonstrated that responsibility for compliance is being taken seriously.”

Press release:-

Moutere Eastern Groundwater Zone maintains Stage 4 rationing while Waimea consent holders go to Stage 1 and 2 restrictions 

16 February, 2024

Water Shortage Directions which begin on Monday 19 February 2024 will continue to affect several water management zones across the Tasman District.  

“The District has had no beneficial rain over the last week, bar some minor drizzle and the current weather forecast indicates minimal rain for the coming fortnight,” Dry Weather Task Force Convenor Kim Drummond said. 

“All the regions’ rivers and aquifers are in various stages of decline, with some at or about the mean annual low flow and others just above this flow."

The Moutere Deep Groundwater area still presents the highest level of concern, while dry soil conditions in Waimea, Moutere and Dove areas have also prompted new measures to be taken. 

Moutere Eastern Groundwater zone will stay in its current Stage 4 rationing or a 65% reduction in authorised weekly usage - while Moutere Western Groundwater will move to Stage 1 rationing, or a 20 per cent reduction. 

The existing cease take for Moutere Surface, Dove and Powley Creek Zones remain in place. 

The Motupiko and Rainy water management zones will move to Stage 2 rationing – or a 35% cut to authorised weekly use - from Monday. 

Waimea Unaffiliated A permits also move to Stage 2, while Unaffiliated B permits will move to Stage 1 (20 % reduction) . 

The Waimea takes continue to be managed in the context of the Waimea Dam not being fully operational. This means the decisions taken through the dry weather task force apply differently to affiliated and non-affiliated permit holders, as per the Tasman Resource Management Plan. 

Waimea Affiliated A Permits Move to Stage 1 – or a 20% reduction in authorised weekly usage – which covers Waimea Delta, Golden Hills, Waimea Reservoir, Waimea Reservoir, Upper Confined Aquifer and Waimea Upper Catchments. 

The Waimea rationing decisions are subject to Wairoa River Flow changes and can be lifted quickly if Wairoa River flow rises above the respective triggers. 

The flow below the Waimea Dam has been sitting at just under 600 l/s this week, based on the spillway flow. 

Water from the Wai-Iti dam water has been released since last week and more water releases would be implemented as required to boost river flows. 

Catchments that are signalled for watch for restrictions if no beneficial rainfall falls after next week are the other Upper Motueka Zones and Golden Bay Catchments. 

 Council is also monitoring salinity level in groundwater wells/bores in both the Motueka and Waimea Plains coastal margins on a weekly basis. 

“The ongoing dry weather conditions are beyond our control however our ability to manage water use is something we can influence through our own actions as we move towards the latter end of summer,” Kim said. 

“As we’ve said previously, the efforts of everyone to minimise their consumption has been greatly appreciated and our data has demonstrated that responsibility for compliance is being taken seriously.”   

Staff will continue to monitor and update information, with the Dry Weather Task Force team next reviewing the situation on Tuesday 20 February.   

In the meantime, it is important that consent holders are familiar with their Resource Consent conditions.      

These restrictions do not apply to users of Council-managed reticulated water supplies, which are subject to alternative restrictions.     

For more information, go to Current restrictions - consented and private supplies | Tasman District Council .

Tasman District Council, Communications.

Pigeon Post News, Richmond.

MetService Weather News Release

Fire weather update for the coming days

WEATHER

15/02/2024

Covering period of Thursday 15 - Monday 19 February

As fires rage in Canterbury, MetService is forecasting warm temperatures and winds to stay strong today (Thursday) and ease at night. Winds are expected to remain benign over much of the country for the weekend, before northwesterlies whip up again by the end of Sunday into the new week. Meanwhile, temperatures in the east of the North and South Island are expected to respond to westerly winds over the coming days.

Strong winds in Christchurch and the Port Hills region reached 50 to 55 km/h on Wednesday afternoon and evening, before easing overnight. As a front moves up the South Island today, northwesterly winds are expected to pick up again in the afternoon over Canterbury. 

MetService meteorologist Mmathapelo Makgabutlane says: “Strong winds this afternoon will not be good news for those battling the fires in Canterbury. We will be keeping a close eye on the front as it approaches as it is expected to bring a drop in the winds from late tonight as it passes. It will also bring a change in wind direction, which could see smoke potentially spreading across the city tomorrow. It may even bring a possible shower, though this will not be enough to douse the flames.”

Friday and the weekend bring relief from the winds for the South Island. By the end of the weekend and into Monday, however, winds pick up ahead of a new approaching front from the Tasman Sea. 

“Places like Southland, Clutha, and inland Canterbury could have quite a windy start to the new week. It will be well worth keeping an eye on the MetService website for any possible Watches or Warnings for Strong Winds,” Makgabutlane advised.

The western South Island sees the opposite effects from that front, where heavy rain is expected. The ranges of Westland and Grey are under an Orange Warning for Heavy Rain until Friday morning, while Buller south of Hector is under Watch from tonight until Friday afternoon.

The general westerly wind regime over the next few days means the eastern parts of the North and South Island can expect warm temperatures at times. 

“Today is another warm day for Canterbury, before the front causes things to switch back to average on Friday and Saturday. Sunday and Monday see a return to temperatures in the upper twenties once again. For the eastern North Island, things look to remain steadily warm from today well into next week. On Monday, parts of Hawke’s Bay could be touching 30°C.”

With these warm and windy conditions, Makgabutlane offers a reminder about fire weather safety: “It’s been a dry summer for many of us. With more warm and windy weather on the way, it’s always good to remember to check local fire danger conditions on Check It’s Alright. If you haven’t already, it would be worth enabling push notifications on the MetService App to be notified when fire danger conditions in your area are ‘Extreme’.”

MetService.

Pigeon Post News, Richmond.

Revised water restrictions

Dovedale and Waimea most affected by latest Tasman urban water restrictions 

14 February, 2024

Tasman District Council is implementing revised water restriction levels for users of its urban reticulated supplies, primarily impacting residents in Dovedale and Waimea. Starting from Monday, 19 February 2024, areas such as Richmond, Hope, Māpua/Ruby Bay, Redwood Valley, and parts of Nelson will move to Phase C restrictions. While Brightwater and Wakefield remain in Phase A, Dovedale retains Phase D, with the possibility of progressing to Phase E if demand doesn't decrease. The adjustments, driven by a lack of rain, water demand, and consented take considerations, reflect the Council's commitment to compliance and sustainable water usage.

Tasman District Council’s Press Release:

Dovedale and Waimea residents will be most affected by the revised Water Restriction levels for users of Tasman District Council-managed urban reticulated supplies.

Effective Monday 19 February, residents in Richmond, Hope, Māpua/ Ruby Bay, Redwood Valley 1 and 2 and Eighty-Eight Valley will move to Phase C restrictions.  

Nelson residents living adjacent to Champion Road, Wakatū Industrial Estate, and parts of Saxton Road West, where water is supplied from the Richmond Water Supply Scheme, will also face Phase C water restrictions. 

Water users in Brightwater and Wakefield will remain in Phase A.  

However, reticulated water users in Dovedale will remain at Phase D with the likelihood of moving to Phase E next week if there is no drop in demand.  

Tasman Group Manager – Community Infrastructure Richard Kirby acknowledged there had been a number of changes in terms of the extent of restrictions, which have been dictated by our efforts to keep within our consented takes.” 

“These were affected by the amount of rainfall and the demand for water in the Waimea and Wakefield urban supplies.” 

“However, the continued summer water demand combined with a long-range forecast of dry weather has prompted a review of the situation.” 

“Our consents dictate that we are only allowed 80% of the consented take and many of our schemes are exceeding this, so we need further restrictions to comply.” 

The decision to keep Dovedale at Phase D stemmed from the area currently being at an unprecedented Stage 4 (or 65 per cent reduction in use) for consent holders.  

“We therefore need to keep Phase D restrictions to keep compliance, but we stress that water is still allowed to be used for public health and stock wellbeing reasons.” 

“If use at Dovedale does not drop below 80% of our consented take this week, it will go to Phase E next week.” 

“Under Phase E, users can only use water for drinking, sanitation, medical, health and safety, firefighting and livestock purposes.” 

Richard also acknowledged that “some in the community will want to know why we have these restrictions when the Waimea Community Dam is full. Although the dam is full it has not been fully commissioned and is intended to be commissioned in March 2024.   

“Currently the outlet pipework is not fully installed so no additional water can be released other than what is going over the spillway. We understand that Waimea Water Limited is looking at options to increase the release of water from the dam. 

“Our message to use water according to their area’s Phase level is more important than ever - conserving water as much as possible will lower the demand and therefore the restrictions we put in place.” 

Information around water tips can be found at www.tasman.govt.nz/my-property/water/water-saving-tips 

More information around water restrictions can be found at Current restrictions - reticulated | Tasman District Council(external link) 

Phase A restrictions mean;  

• watering of grass or lawns is not permitted.   
• Watering decorative and productive gardens is permitted using a handheld hose with trigger nozzle or time limited water system.   
• Filling a pool is prohibited, but pools can still be topped up.    

 

Under Phase C 

YOU CAN: 

• Wash your car using recycled grey water only. 
• Do essential outdoor washing for safety reasons, using a bucket only. 
• Water your flowers/trees/planters every second day only with a hand held hose fitted with a trigger nozzle, watering systems on a timer or a bucket. Watering listed protected trees is allowed using these methods. 
• Water your veggie garden and fruit trees every second day only with a hand held hose fitted with a trigger nozzle, watering systems on a timer or a bucket. 

YOU CAN’T: 

• Water the lawn. 
• Fill or top up a pool, spa or water feature. 
• Use water for play. 

 

Under Phase D 

YOU CAN: 

• Wash your car using recycled grey water only. 
• Do essential outdoor washing for safety reasons, using a bucket only. 
• Water listed protected trees every second day only with a hand held hose fitted with a trigger nozzle, watering systems on a timer or a bucket. 
• Water your veggie garden and fruit trees every second day only using a bucket only. 

YOU CAN’T: 

• Water your flowers/trees/planters. 
• Water the lawn. 
• Fill or top up a pool, spa or water feature. 
• Use water for play.

Tasman District Council.