Waihi Beach property prices show no sign of easing

More than $72.9 million worth of property was sold in Waihi Beach in the last six months alone. File photo.

Waihi Beach property market shows no sign of slowing down as more than $72.9 million worth of property was sold in Waihi Beach in the lastsix6 months alone.

“Waihi Beach has become one of the hottest property markets in the Bay of Plenty with house prices now averaging $1.5 million,” says Gary Alway, owner of local real estate market leader LJ Hooker Waihi Beach.

“The bustling beachside village, with one of the country’s safest surf beaches and vibrant, friendly community are the key reasons for the continued increase in property prices.

“As a result of further Covid-19 lockdowns affecting Auckland and the Waikato regions, this year we have experienced a significant increase in both enquiries and purchases from people who have had enough of being trapped in a city and want a lifestyle change.”

This is backed by the latest Real Estate Institute of New Zealand (REINZ) House Price Index data that shows the median sale price in the Bay of Plenty increased 20 per cent since November 2020.

Also, to note is that the Bay of Plenty had the fourth strongest annual performance in the House Price Index the long-term property value growth in the Bay of Plenty has been very strong compared to other regions.

“With more than 21 successful property sales of the 48 sales in Waihi Beach over the last six months, a key comment from purchasers was that the Covid-19 restrictions made them re-think how and where they wanted to spend their time,” says Alway.

The number of new builds and construction projects occurring in Waihi Beach has soared in the last five years, with simple baches being turned into multi-million dollar beach front homes.

“Waihi Beach is fast becoming a haven for people from Auckland, Tauranga, and Hamilton seeking the ability to work more from home while also appreciating that hard-to-find laid-back Kiwi beach holiday experience.”

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