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Regions Heating Up: A Look at Real Estate Trends in New Zealand

The trend of people moving away from big cities in New Zealand to the regions continues to gain momentum. More and more people are prioritizing their dream lifestyle and taking advantage of the opportunity to work remotely or set up their business in a new town. This shift in priorities is expected to significantly impact real estate activity in the next six to twelve months. As we approach spring, let’s take a closer look at the regions that are starting to heat up.

Northland, known for its warmer climate compared to the rest of the country, is experiencing a strong demand in the lifestyle market. Despite wider economic conditions affecting some potential buyers, the desire to secure an escape from the cities in favor of a laid-back country lifestyle remains high. Properties in this region are still achieving high prices due to the increased demand.

Moving south, the Waikato and Bay of Plenty regions are becoming central locations that offer the best of both worlds. They are close to major centers’ amenities while providing a more relaxed lifestyle. This combination is attracting many potential buyers to the area. The spring and early summer market of 2023 is expected to offer exceptional opportunities for those looking to buy in these regions.

The lower North Island and East Coast have also seen a positive market despite the winter season. Many lifestyle properties have recently sold, some of which had spent months on the market. The availability of a wide range of properties, from high-end to more affordable options, is contributing to this positive market trend. Growth in areas like Ohakea, the Manawatu Gorge upgrade linking to Hawke’s Bay and Wairarapa, as well as a new KiwiRail regional freight hub, are attracting more people to explore lifestyle opportunities in these regions.

Moving further down to Canterbury, statistically, listings may be down, but there is still a considerable number of people looking to buy. Seller confidence is slowly returning, encouraging more homeowners to put their properties on the market. Mid and South Canterbury are particularly popular with lifestylers due to the region’s abundant recreational opportunities, reliable infrastructure, and beautiful scenery.

In Otago, some areas have experienced continuous growth over the past couple of years. Central Otago, in particular, has become an area of choice for many as remote work becomes the norm and people seek a desirable lifestyle. Although interest rates may have peaked, the affordability of lifestyle blocks in Central Otago makes them attractive to those coming from more expensive regions.

Cromwell, a picturesque Central Otago town, is enjoying high demand as well. With prices in Queenstown and Wanaka skyrocketing, Cromwell offers more affordable alternatives without compromising access to the amenities and attractions of the popular neighboring towns.

No matter where you’re looking to buy or sell, PGG Wrightson Real Estate has experienced agents nationwide, ensuring you’ll have a local professional to assist you in your journey. We strive to make your move as easy as possible, so feel free to explore our listings, contact an office directly, or send us an inquiry.

If you’re thinking about buying an investment property or holiday home, we have valuable information that can help guide you through the process. A rental property or holiday home can be an excellent nest egg, and we’re here to provide you with the knowledge you need to make informed decisions.

Begin your search for your new home today and let us help you make your dream lifestyle a reality.

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