KEY POINTS:
Property values in Auckland's semi-rural southern districts have more than doubled in the past three years as first-home buyers and developers seek cheaper deals outside the city.
Franklin District homes show an average 135 per cent rise in land value in the latest revaluation for rating purposes done
by Quotable Value.
Papakura District homes show an average 123 per cent rise over the three years to September.
The dark horse performer for home investment gain has been Tuakau, a Franklin town of 3000 people.
Sales records shows its capital value has risen 81 per cent and land value by 200 per cent.
"A house, bought for $190,000 three years ago has an offer on it for $290,000," said Barfoot and Thompson real estate sales agent Elizabeth Du Plessis. "That's a good price for Tuakau but it's a nicely presented, newer type property."
Bigger Franklin towns such as Waiuku and Pukekohe show land value rises of 168 per cent and 117 per cent, respectively.
Pukekohe is one of the country's fastest growing secondary urban centres and houses there range from $200,000 to $300,000 but expect to pay $400,000 or more for some of the many new homes under construction.
Franklin Mayor Mark Ball said the revaluation reflected the growth resulting from people moving southwards from the metropolitan area.
"They come to buy a home at a level they can afford and a lifestyle away from the hustle and bustle."
At Papakura, Mayor John Robertson said the council was in good shape to take on growth and do it well.
He thought people were moving there for the lifestyle as well as access to good amenities and public transport.
The third biggest railway station in the Auckland passenger transport network was under construction in Papakura.
"We are seeing people do well on property investments," he said.
"New people who have purchased relatively recently have been pleased with the increased values."
Barfoot and Thompson Papakura manager Dreena McElhinney said a home near the motorway in Longford Park, bought in March 2003 for $335,000, had sold last August for $470,000.
A home in the Valentine St area that was popular with landlords had sold in August 1998 for $135,000, again in November 2004 for $187,500 and again last November for $258,300.
Quotable Value said most Papakura land value increases ranged from 100 to 140 per cent but development sites increased up to 300 per cent.
Mr Robertson said the 133 per cent increase in the district's land value, including industrial and rural land, would not automatically boost the council's rating base.
The council set its budget based on the things it needed to do for the coming year and divided the number of units by value into that figure.
Southern Pride
* Papakura residential land value up 123 per cent, capital value up 57.2 per cent.
* Franklin residential land value up 135 per cent, capital value up 72 per cent.
* Land value has increased at a greater rate than the capital value nationally in recent years.