New data shows a North Shore suburb has taken the crown as Auckland's fastest-growing suburb.
Research by the Real Estate Institute of New Zealand (REINZ) reveals that while properties on the North Shore have fallen in price, Takapuna has bucked the trend to take the lead.
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In the six months ending March 2019, 67 houses were sold in Takapuna at a median house price of $1.3 million - 30 percent up since the same time last year, which saw 83 houses sold at an average price of $1 million.
"Takapuna often ranks highly in terms of popularity but, given the cooling house price growth which has been recorded on Auckland's North Shore recently, the latest figures may come as a surprise to some," says REINZ CEO Bindi Norwell.
Following in Takapuna's footsteps were the suburbs of Onehunga, which saw a 19.4 percent increase in median house price, and Morningside, which saw an 18.9 percent increase.
The list of fastest-growing suburbs also included a few surprises like Glen Innes, which saw a median house prices jump from $890,000 to just over $1 million in the past 12 months - an increase of 12.9 percent.
"As for Glen Innes, the Tamaki Regeneration programme is likely to have played a part in the significant price growth there as the community continues to see a number of new houses being built and the promise of a more attractive and sustainable place to live for existing and new residents of the area," Norwell says.
Some suburbs saw prices drop dramatically. Mount Albert was down 31.2 percent, Royal Oak was down 25.4 percent and Long Bay fell 24.8 percent.
Popular central locations such as Parnell, Mount Eden, Herne Bay and Freemans Bay also saw significant price drops, pushing them down into the bottom suburbs for the six months ending March 2019.
"Seeing some of the central suburbs falling towards the bottom of the list doesn't necessarily come as a surprise," Norwell concludes.
"Suburbs such as Mount Eden, Westmere and Herne Bay have been slowly declining in price for a while now."
The data featured suburbs which have made a minimum of 20 sales in each given month of the year.
Newshub.
