The Ripple Effect Rolls On

Linton and Taryn Green have bought a home in Botany

 

Sales soar beyond ritzy areas
By Alanah Eriksen
Apr 29, 2013

Activity is heating up in suburbs neighbouring Auckland’s most desirable addresses.

The number of sales in Auckland suburbs typically considered less desirable are growing at a faster rate than their usually sought-after neighbours.

The Real Estate Institute has compared sales data from the past four years for Remuera, Ponsonby, Herne Bay, Mt Eden and Pt Chevalier with the areas around them.

As the prices skyrocket in those suburbs – considered the city’s most desirable because of school zoning, proximity to town, views and calibre of housing – Aucklanders are settling for houses just outside the boundaries in areas not so much favoured.

The biggest difference was between Ponsonby and Kingsland, with the former decreasing in sales by 30 per cent and the latter increasing by 75 per cent.

In the country’s most expensive suburb of Herne Bay, the number of sales grew by just 3.1 per cent in the past four years, while neighbouring Western Springs grew by 16.6 per cent.

Pt Chevalier saw a 22.4 per cent rise, while Mt Albert grew 32 per cent.

The number of sales in Remuera grew by just 9.1 per cent, compared with its neighbours Meadowbank and Ellerslie, which grew 34 and 30 per cent respectively.

Link:

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10880351

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