Thousands of people are flocking to Tauranga, with a large proportion of homes sold going to people from outside of the region - and demand shows no signs of slowing.
Tall Poppy Real Estate has sold 128 properties generating more than $33 million worth of sales since establishing itself in the Tauranga region late last year.
In some areas, 30 to 40 per cent of sales are going to people new to the district.
This growth aligns with Tauranga City Council’s predictions the population will increase to 145,800 people by 2023.
A total of $350 million worth of commercial investment was made in Tauranga between 2017 and 2018, and 1260 new housing consents granted. The average house price has climbed to $700,000.
Tall Poppy Tauranga South owner Janet O’Shea says the growth is extraordinary, especially around the Pyes Pa area.
“The Lakes subdivision is being built very quickly. One week you will drive through an area that has sections being laid out, and two to three weeks later houses are going up.”
Janet believes commercial development will help spur growth over the next 12 months.
“We have a large number of projects underway - Tauranga Crossing, the Bayfair redevelopment and the Tauranga Campus of the University of Waikato is due to open in 2019 - all of these make Tauranga more attractive.”
Susan Northey, owner of Tall Poppy Tauranga Central, believes higher paying local jobs are attracting people from outside of the region.
“The Port of Tauranga has always been a strong driver of growth, but now we’re seeing more national brands’ head offices located here, leading to higher-paying jobs and additional business growth. 30 to 40 per cent of the sales we’re making are to people outside of Tauranga who want the unique lifestyle we can offer without having to compromise in their work.”
Te Puke is earmarked as the next big growth region, with Tall Poppy agent Logan Crawford calling it a ‘super growth town’.
“Te Puke has it all - the lifestyle, community, local culture as well as new housing developments and investment in infrastructure, all of this is a short drive from Papamoa and Tauranga’s CBD”, says Logan.
Building on its success across the Bay of Plenty, Tall Poppy has its sights on Mount Maunganui. Michael Seymour, Owner of Tall Poppy, says the Tauranga market is one of its best.
“The growth we’ve seen here is pretty special. It’s one of our best and fastest selling regions. The massive success of Omokoroa and Katikati - where Tall Poppy is impossible to ignore - and now the same growth happening in Southern and Central Tauranga and Papamoa, really leaves the Mount as the next obvious target. The Mount is one of New Zealand’s premier real estate markets and one we’re keen to establish a franchise in,” says Michael.
Tall Poppy is a New Zealand Real Estate Agency, headquartered on the Kapiti Coast, north of Wellington. Founded in 2012, it operates throughout New Zealand and has saved New Zealanders $28 million in fees.
It is working to create a fairer real estate industry for all Kiwis and prides itself in being an active member of the communities in which it operates. It plans to be available in all regions of New Zealand by the end of 2020.