Central Hawke's Bay continues to catch up to Hawke's Bay's ever growing property market

Central Hawke's Bay has had huge growth over the last three years with a 77.5 per cent increase on its median property value. Photo / File

While Napier and Hastings dominate the property market Central Hawke's Bay look to catch up and they are doing so sooner rather than later.

According to the latest OneRoof stats Central Hawke's Bay has had huge growth over the last three years with a 77.5 per cent increase on its median property value.

CHB has seen a bulk of that growth happening just over the last year with a 22.4 per cent increase to the regions median price in the year ending June 2019.

That increase is seen more prominent in the CHB towns of Otane and Waipawa where the median value has increased between 20 and 32 per cent over the last year.

The region remains an attractive prospect for many looking for cheap housing with the area still possessing a cheap median value despite the increase.

Waipawa holds a median around $340,000 while Otane sits a little higher at $375,000.

Takapau also continues to be a strong beacon for CHB with $2,507,800 spent on property in the town in 2015, while in 2018 it went up to $5,629,907.

Harcourts Waipukurau real estate agent HeathaEdwards said she was delighted to see that their "special corner of the world" has quietly been going from strength to strength.

"The market has showed no signs of slowing down yet, with continued strong buyer enquiry locally, combined with the steady stream of out of town buyers escaping the pressure and financial strain of a big city and constant interest from overseas purchasers," Edwards said.

She said they also were getting a steady stream of home buyers from Hastings looking out of the city for cheaper housing on offer.

CHB's median property values are almost $150,000 cheaper than Hastings and Napier with CHB sitting at $355,000 and Hastings and Napier at $500,000.

"There has been an increase in Hastings buyers viewing our relaxed communities and affordable small town lifestyle opportunities as a bonus, and a viable commutable distance makes it very appealing for a lot of families."