The most expensive suburbs were Langs Beach, Russell (pictured) and Mangawhai Heads.
Northland house prices are finally starting to catch up to the rest of the country, according to a new property report released this week.
The OneRoof Property Report highlighted a range of national property statistics, including the most expensive and cheapest suburbs, the best and worst-performing suburbs and overall latest suburb property values.
Despite a slow start, the report showed Northland was starting to show an upswing in property price growth, similar to what the rest of the country had been experiencing in the last quarter.
OneRoof editor Owen Vaughan said Northland had always had a tendency to lag behind other regions, but the market was on a trajectory heading towards positive growth.
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“Northland has traditionally always been slower, but the pace of decline has now slowed considerably,” Vaughan said.
“In the last couple of weeks, Northland has started to feel the benefit the rest of the market has had due to a lack of stock, which is creating upward pressure on prices.
“It won’t be rampant growth like we saw during the boom, though, and that’s mainly because interest rates are still high, so will provide a natural curb in huge growth in values and prices.”
As of Monday morning, Northland’s property prices had risen to 1 per cent- a marked increase from -0.5 per cent on August 20.
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According to the report, the top settled sales for 2023 (up until end of October 2023) were in the Far North, Whangārei and Kaipara, with the top house selling for $4.1 million in Russell in January.
The next most expensive was a property in Hihi/Mangōnui in March, which sold for $3.87m, followed by a property at One Tree Point which sold for $3.7m and a Mangawhai Heads property that went for $3.65m in January.
In terms of the most expensive suburbs, these were Langs Beach, Russell and Mangawhai Heads, with the average property values coming in at $2,167,000, $1,478,000 and $1,332,000 respectively.
On the other end of the spectrum, Northland’s cheapest suburbs were Kaikohe, with an average property value of $398,000, followed by Kaitāia at $440,000 and Kawakawa at $500,000.
Despite Mangawhai Heads and Russell achieving high property sales in 2023, they also came in as the region’s weakest-performing suburbs, dropping 7.20 per cent and 6 per cent respectively in the past three months.
Kawakawa also took a knock, sinking 4.20 per cent in house prices between August and October.
Three Whangārei suburbs proved to have the strongest house price growth in the last quarter, with a growth of 2.3 per cent in Morningside and Riverside and 2 per cent in Raumanga.
Valocity Global senior research analyst Wayne Shum confirmed the housing market in most places in New Zealand had now hit (or were close to) the bottom, including Northland.
He said while the region as a whole had dropped around $100,000 from its peak of $925,000 in April 2022, it was still out-performing its pre-Covid average price of $614,000 by more than $100,000 ($827,000).
“In Northland it really depends where you are, because places like Whangārei have their own market which is doing well,” Shum said.
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“The Far North is also performing well, but places like Kaipara are still lagging behind.
“The National Government has promised the new highway which will go further north, so the Auckland demand for a bach in Mangawhai or those working in the North Shore commuting once a week to the office will be strong.”
In terms of first-home buyers, Shum said most first-home buyers were already in the market.
He said house price increases plus changes with the incoming Government could make things potentially more difficult.
“The National Government has said they will likely bring back some of their former investment policies, so once investors are back, the market will start to pick up,” Shum said.
“The key issues for Northland is that flooding is definitely still a concern for people, so while there is a sense of a fear of missing out, first-home buyers and buyers in general are being a bit more careful and doing more homework than before.”
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Myjanne Jensen is a part-time reporter for the Northern Advocate. She was previously the editor of the Northland Age, joining NZME in 2021 after moving to the region from Australia.
The new $1b PwC Tower at Commercial Bay. Photo / supplied
More Aucklanders are back at their offices five days a week in a trend dubbed “work from work” by New Zealand’s largest commercial listed landlord.
Scott Pritchard, chief executive of multi-billion dollar landlord Precinct Properties,
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Mukesh Naidu, wife Ashishna and daughter Aarashi recently moved into their newly built home in Kamo. Photo / Michael Cunningham
A gloomy autumn housing market has had the opposite effect on Northland which enjoyed a lift in house prices— one of three regions that experienced modest growth despite downward pressure on sales elsewhere.
According to
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Mangawhai, where housing prices have been increasing in the past year. Photo / Tania Whyte
New housing data shows Northland might be bucking the trend when it comes to decreasing house prices, but the impact on buyer’s confidence following Cyclone Gabrielle remains unknown.
Aotearoa’s property prices continued on a downward
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Northland is one of just two regions bucking the downward national trend in the median house price.
Photo / Michael Cunningham
Northland is one of two regions experiencing a growth in the median house price but a real estate expert is advising buyers and sellers to treat the lift with caution.
Figures from the Real Estate
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The real estate market slowdown offers a glimmer of hope to struggling first home buyers but OECD data shows New Zealand homes are still among the least affordable in the developed world. Photo / Ted Baghurst
The Far North and Kaipara bucked a national trend with average house prices increasing in 2022 while prices in the big cities continue to tumble.
However, in recent months the real estate slowdown appears to
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What 2022 taught interior designers and firms alike was that the briefs of commercial spaces had to change and how with the Covid-19 pandemic that had set in, one had to evolve and adapt. While different models of work were adopted by various firms such as work-from-home, hybrid work models and so forth, companies also wanted their employees to come back to their workspaces but had to ensure their safety and well-being.
With the year 2023 on the horizon, it will be a year where interior designers can experiment with their takes on new design models and take the trends a step further. In an interview with HT Lifestyle, Kunal Sharma, Founder and CEO of Flipspaces, revealed, “Irrespective of the scale at which they operate, businesses are implementing modern design techniques to give an aesthetic look to their offices. Modern commercial designs are also in sync with the latest tech trends across industries to create a conducive work environment.”
According to him, following are some of the major design trends in commercial offices to look out for in 2023:
1. Sustainable Designs – The Covid crisis made the world aware of how nature has the power to turn the tables and overpower humans overnight. Companies worldwide are consciously going eco-friendly by making efforts to save the environment. These efforts are visible in commercial interior designs as well.
2. Open Layouts – Lately, open floor plans have become increasingly popular in commercial office designs. These open layouts eliminate physical barriers such as walls, cubicles, and cabins between employees, allowing them to interact with each other directly. Organisations are opting for open layouts as it enhances creativity and collaboration. They prevent employees from working in confined areas and facilitate smooth communication within and across departments. Another major reason why open layouts are likely to get more popular in 2023 is that they are highly cost-effective. Such commercial designs eliminate the cost of setting up walls and cubicles for employees throughout the office premises.
3. Staying Close To Nature With Biophilic Designs – As discussed earlier, companies are taking a step towards becoming more eco-friendly and conscious of how natural resources are used. A significant outcome of this is the use of biophilic designs in offices. Many companies have been using such designs for quite some time, and many more are likely to follow the lead in 2023. Biophilic designs allow you to include natural elements in your commercial designs, bringing you a step closer to mother nature. Right from installing potted plants
4. Replacements For Traditional Desks And Chairs – Modern workspaces are no longer limited to traditional desks and chairs fitted in an orderly fashion. Organisations in 2023, we will likely see more replacements for traditional desks and chairs, such as couches, bean bags, breakout areas, lounges, and more. Employees today dislike sticking to a single place while getting their work done. Spending a couple of years working from the comfort of their homes has made them seek comfortable seating areas where they can let their creative juices flow.
5. Dedicated Booths For More Privacy – Now that employees are back to on-premise work and open floor plans are getting increasingly popular, there are situations where workers need privacy. Companies are therefore installing dedicated booths or pods for their employees to work in peace, leaving all distractions outside. These booths can be used for attending Zoom meetings, working quietly on projects that demand high concentration or simply meditating and spending some time with oneself amid hectic work hours.
Bringing his expertise to the same, Shrikant Pandey, Managing Director at Indiamanthan Publications, said, “Covid-19 forced flexible work arrangements on nearly everyone, and the consequences have been felt far and wide. Nowadays, millennials are more likely to be engaged and fulfilled in their work than in previous generations.” He insisted that the popularity of open layouts in companies today may be due to:
1. Collaborative workspaces in hybrid workplaces – There was a time when jobs were firmly rooted in office buildings. With the hybrid work model, workers want more purpose and productivity from their office time. Hybrid models combine in-office and remote work. Professionals realized the benefits of remote work and knew it would have to remain in some form.
2. Energy efficiency: Making the office more sustainable – A growing number of employees expect businesses to reduce their carbon footprint. Companies can achieve this by choosing energy-efficient water coolers, vending machines, and printers. The reduction of greenhouse gases has a positive impact on our planet.
Several other strategies can be used by companies to have a sustainable impact, including:
a) Furniture made from upcycled materials
b) Recyclable materials
c) The use of LED lighting
d) Paperless policies
e) Coffee cups and plates that can be reused
3. A sense of comfort in nature – The number of plants you have can never be enough. Besides purifying the air, they’re bright, boost your mood and productivity, and they’re much more attractive than plain white walls. An office with living biophilic walls combines art with nature, creating a pleasant and comforting atmosphere.
4. The key is to have options – The open space design offers versatility and productivity. You shouldn’t limit your employees to only their desks through zoom booths, phone booths, open plan desks, neurodiverse spaces, comfy sofa workspaces, etc. Currently, desks aren’t the only place where people want to work, so variety is key!
These are some of the top commercial office design trends you should watch in 2023. 2023 is going to be the year where a lot of experiments are likely to be made in the commercial design space to push the envelope and convey the essence of brands around the world. Make sure you are equipped to embrace the new year by incorporating the new office design trends for your workspace in the best way possible!
Michelle Bunce who is about to launch a llama trekking venture with her husband. Photo / Andrew Warner
The Bay of Plenty has been described as the “Gold Coast of New Zealand” and is holding its own on the property lifestyle price front with “international buyers viewing online and watching the market closely”.