These Auckland Suburbs Have Seen A 500% Increase In Price Since 1999
It’s no secret that house prices in Auckland are on the rise. As we approach a new decade, it’s a good time to reflect on house price trends since the beginning of the new millennium. While house prices have steadily increased in Auckland since 1999, several suburbs stand out as having experienced exponential growth, that is, an increase in house prices exceeding 500%. In 1999, the average sale price of homes in Auckland was $235,000. In 2019, this figure stands at $830,500. That’s an impressive 253% increase in price over 20 years.
The lowest median sale price area in Auckland in 2019 was Grafton, which came in at a figure of $352,000. Manukau and Auckland’s CBD weren’t far behind, largely due to the vast number of apartment-style housing in these areas.
In comparison, the highest median sale price in Auckland went to Omaha, St Mary’s Bay and Whitford, all of which exceeded $2 million in median sale price. Omaha has seen a 664% increase in median sale price since 1999, a similar figure to the other suburbs mentioned.
“Omaha’s proximity to Auckland, pristine beach and relatively safe waters have essentially turned it into the Hamptons for rich boomers looking to escape for the weekend,” said OneRoof editor, Owen Vaughan.
Wai O Taiki Bay, Point England, Point Wells and Ponsonby have also done extremely well in the past 20 years. Experts have noted that beachfront areas in Auckland have experienced the most growth since the turn of the millennium and that these areas continue to grow in popularity and, therefore, cost.