Inner Auckland rising star
A REINZ analysis of sought-after inner Auckland suburbs shows that Grafton, followed by Mt Eden and then Northcote Point top the price rise list.
The analysis compared the median price of properties for the six months ending March 2018 with the median price of properties at the same time last year.
Over the time compared, Grafton’s median price rose by a hefty 39.8%, or $167,000, from $420,000 to $587,000.
Mt Eden’s median price went up by 36.7%, or $340,500, from $927,000 to $1,267,000, while Northcote Point’s median price increased by 19.2%, or $220,500, from $1,147,000 to $1,367,500.
REINZ chief executive Bindi Norwell says Auckland’s top five fastest rising suburbs all have a number of critical factors in common.
They are all close to the CBD, have good motorway access and public transport links, they have a number of entertainment or dining options available to them and they also have access to green spaces.
“Time and time again, we hear from agents that proximity to the CBD is becoming increasingly important as people want to spend less time sitting in their car driving to work,” she says.
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