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“A combination of low interest rates, low supply and a fear of missing out are driving prices to values that would have been unbelievable even a few months ago.” The results didn’t come as a big surprise given how the market had been trending, he said. But while sale records were spread nationwide, it was Dunedin which set the most records, with 11 different suburbs in the city seeing new highs. Three Dunedin suburbs – Vauxhall, Waldronville and Bradford – set new sales records of more than $1.4m while another three – Ocean View, Glenross and Tainui – turned in sales records...

Auckland, which now has a median value of $1 million, dominates the most expensive suburbs. Of the 10 most expensive suburbs, nine are in Auckland and one is in Wellington, according to Homes.co.nz. The 10 most expensive suburbs are Herne Bay, Saint Mary’s Bay, Shamrock Park, Oriental Bay (Wellington), Westmere, Ponsonby, Stanley Point, Remuera, Epsom and Campbells Bay. Their median price ranges from $1.94m in Campbells Bay up to $3m-plus in Herne Bay. Homes.co.nz chief data scientist Tom Lintern says the $2m club is now eight suburbs strong, with Herne Bay being the only suburb with me...

THREE Even the locals wonder at the sense of building a new house on a beach that is eroding every year, but Mark and Pip Pennington are up for it. Summer holiday-makers dreaming of buying their own waterfront property will have to be ready to spend big bucks, new data shows. Waterfront homes tend to come with a hefty price premium and properties in New Zealand’s summer hot spots command some of the largest, according to Homes.co.nz. The iconic beachside town of Mount Maunganui tops the premium list. Homes.co.nz estimated that the median value of properties within 50 metres of the ocean w...

In the last three years, residential property prices in the region have ballooned 51.4 percent - from $518,000 in 2017 to $785,000. An avid follower of the website homes.co.nz, Edward was horrified to learn it was a simple matter for agents to bump up the estimated value of a property by uploading their own appraisals. "And quite often it goes way above the market rate for that area." In a blog post, which dropped off the website when it was re-platformed, marketing manager Fiona D'Silva Moiyadi, gives step-by-step instructions for modifying HomesEstimates. Buyers expected estimates on third-...