Tauranga's median property value is $670,000. Photo / File
Tauranga's median property value is $670,000. Photo / File
You can expect to pay about $670,000 on a home in Tauranga. But where can you find the city's most affordable suburbs are and where are house prices rising the fastest? Property reporter Zoe Hunter breaks down the latest OneRoof data.
Parkvale, Poike and Gate Pā are Tauranga's most affordable suburbs.
And the most expensive? Tauriko, Bethlehem and Ōhauiti.
The latest OneRoof property report showed the median value in Parkvale and Poike was $470,000 and $490,000 in Gate Pā.
OneRoof editor Owen Vaughan said Tauranga's top performers Gate Pā, Maungatapu, Poike, Tauriko and Welcome Bay were all up 6 and 8 per cent in value in the last year.
"With the exception of Tauriko, the appeal of these suburbs lies in their relatively affordable price points," he said.
"All have median values below $650,000, attracting first home buyers and investors alike."
First home buyers remain the most dominant buyer group, accounting for 24.53 per cent of new mortgage registrations in the last quarter.
Tremains Bay of Plenty and Waikato, Anton Jones. Photo / File
Tremains Bay of Plenty and Waikato, Anton Jones, said homes in Gate Pā, Poike and Parkvale were still coming off a lower base and there were cheaper houses in those areas.
Whereas, he said, there were more lifestyle properties in places like Bethlehem and Tauriko.
However, Jones said there was a current shortage of listings in Bethlehem.
"The Bethlehem market was quite soft in the last six months to a year and seems to have picked up," he said. "It is now almost the flavour of the month."
Jones said Gate Pā was also popular with first home buyers and was where most of the housing stock was.
Simon Anderson, managing director of Realty Group which operates Eves and Bayleys. Photo / File
Simon Anderson, managing director of Realty Group which operates Eves and Bayleys, said he was not surprised to see Gate Pā was one of the most affordable suburbs.
