Real Estate is an ever changing market so it is the trends that need to be considered. Hawkes Bay has provided a constant increase in market value despite a fall in the number of sales registered since the market boom of 2004.
The Napier/Hastings Median price for a lifestyle property has increased from $158,000 in 2000 to $380,400 in 2007.
(Source - Headway Systems)
This has also been reflected in the National lifestyle market with March 2000 average price at circa $225,000 increasing to circa $490,000 in December 2005, an increase of 2.1.
On a regional note the value of lifestyle plots in Hawkes Bay have increased some 34% between September 2004 and September 2006 coming 4th in the regional comparisons beating both Auckland and Wellington.
“Residential dwelling property prices have continued to trend upwards in Hawkes Bay over the last 12 months according to Real Estate Institute of New Zealand” - Bayleys June 2007.
It is anticipated that the upward trend will continue making Hawkes Bay Lifestyle Property a good long term investment.