Data shows that home seekers are turning to new regional hotspots while interest in big cities is waning.
• According to realestate.co.nz, the top regions where people are searching for houses include the Hawke’s Bay, Otago, Gisborne and Manawatu-Whanganui.
• For the same price as an Auckland apartment in these regional hotspots, you could get a 3-bedroom home on more than 7.5ha of farmland or an Edwardian home set in more than 8.5ha, w/ 6 bedrooms, 3 bathrooms, swimming pool, etc.
• A drop in big city demand shows that it’s not just retirees who cash up & move away from cities like Auckland, people are moving in because of strong job growth in these regions, according to seek.co.nz.
• Meanwhile, the average asking price for an apartment in Auckland hit a record high of $711,892, yet interest in Auckland listings fell almost 11% & viewings on realestate.co.nz’s website fell by nearly 19% in 3 months.
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