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Island Real Estate Prices Soar

Property values in the Hauraki Gulf Islands, particularly Waiheke and Great Barrier, have surged by 71% in the last six years as demand for coastal and lifestyle properties continues to grow.

Saturday, February 07th 2004

A recent report by economic consultants, Covec, found median house prices on the islands jumped from $197,000 in the year to December 1998 to $336,000 last year, ranking the islands the 11th most expensive real estate in the country, up from 20th.

In the year to December, 506 Gulf Island properties were sold, compared with 276 properties in the year to December 1998.

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