Housing investors may assume the most significant opportunities are found in big cities, but that isn’t the case. Over the past ten years, the largest capital gains have occurred in small-town New Zealand.
Realestate.co.nz has released new data showing the change in asking prices for areas around New Zealand since 2012.
Kawerau led the table, with a 282.1 per cent increase, to an average asking price of $361,441.
But prices also more than doubled in 34 other areas, with the most significant increases in South Wairarapa (up 155.5 per cent), Carterton (up 148.3 per cent), Tararua (144.9 per cent) and Central Hawkes Bay (143.5 per cent).
Over the past ten years, there have been substantial internal migrations with people choosing to leave Auckland for more affordable living in the regions. The influx of new residents has pushed up housing and rent prices.
