Regions get turnover boost

Comparing the three months from June to August this year with the same period last year, the biggest increase in sales was in Waikato, where volumes were up 96%.

That was followed by Coromandel, at 91%, Northland at 74% and Bay of Plenty at 64%.

Winter is usually the slowest time of the year. 

REINZ chief executive Colleen Milne said Coromandel was becoming another suburb of Auckland because people could take a two-hour ferry trip to get there.

“It is a great option for those looking for a quieter lifestyle but with the ability to reach Auckland if need be.”

She said it was also a popular holiday spot and low interest rates, combined with still low prices, made it a popular spot to buy a bach.  

"With property values increasing so much in other holiday hot spots, such as Northland, it is reasonable to suggest that many have decided to secure a holiday home in the Coromandel instead."

Northland reported the biggest price increase, of 10%.

Milne said Hawkes Bay, Wairarapa, Central Otago Lakes, Otago and the West Coast recorded gains in sales volumes and prices.

“The sales volumes for the West Coast for August are up 260% compared to August last year.

"Although the numbers are small compared to larger regions, the sales volumes are showing that a lot of people are buying in these smaller areas, so demand is spilling out from the centres.”

Wairarapa sales volumes were up 119% in August compared to the same time last year.

Milne said more people were choosing areas such as Wairarapa that were close to the city but offered a different lifestyle.

“I believe this is a growing trend where people are considering their lifestyle options long-term and for many living outside the main centres is the answer.”