36 | Demand from across the board Lifestyle and property prices are drawing people to the area, says Central Hawke’s Bay Property Brokers residential and lifestyle sales consultant Matt Oliver. Central Hawke’s Bay: Central Hawke’s Bay Property Brokers REGIONAL DEVELOPMENT T T Karen Phelps T. 06 858 6660 F. 06 858 8481 E. dac@daclegal.co.nz 9 Herbert Street PO Box 54 Waipukurau 4242 Law and the Land Living and working in rural Hawke’s Bay, the team at DAC Legal have a strong focus on contributing to the growth and prosperity of our district, it’s businesses and it’s people. We have the right people, with the right knowledge to deliver expert advice that fits your needs. PHOTOGRAPHY • VIDEO • 3D VIRTUAL TOURS Proudly capturing the essence of Matt’s listings www.swvaluers.nz Mel Wilson mel@swvaluers.nz M: 027432 2425 W: 06 858 5346 Chris Southgate chris@swvaluers.nz M: 027484 6576 W: 06 374 9862 People are increasingly moving to Central Hawke’s Bay for its lifestyle and more reasonable property prices compared with surrounding districts and other parts of New Zealand, says Central Hawke’s Bay Property Brokers residential and lifestyle sales consultant Matt Oliver. “We are seeing a lot of out of towners, especially those moving from big cities as well as overseas buyers, in particular from Australia,” he says. “But the main pull remains from the Hawke’s Bay market where people can cash up and buy a similar quality property here and be freehold or perhaps even have money in the bank. People moving here are also seeking a change of lifestyle and in Central Hawke’s Bay we have rivers, moutains and coastline all on our doorstep.” From a declining population for nearly 20 years, Central Hawke’s Bay’s population has been growing with over 200 people moving to the district each year between 2013 and 2019. As a percentage, this growth over the last three years surpasses the districts Hawke’s Bay neighbours of Hastings and Napier as well as the New Zealand average. Matt says that commuting continues to be popular with people preferring to live slightly out of town for the space and lifestyle. In fact 61% of Central Hawke’s Bay residents derived an income from outside the District in 2021, introducing over $67 million of income into the District. Of all jobs in Central Hawke’s Bay, 51% of those are provided by people that reside outside of the district, but travel to the district for work. There has also been growth in the 15–39 age group, and the 0–14 age group, indicating the district’s reputation as a great lifestyle location to raise a family appears to be growing. Matt says he is seeing demand from across the board including first homebuyers, young families, downsizers and retirees. House prices in Central Hawke’s Bay have doubled over the last ten years- representing an 108 per cent increase from January 2011 to January 2021, the second largest jump in New Zealand in 2021 showing demand for housing in Central Hawke’s Bay remains strong. Matt says it’s definitely more of a buyers market in the Central Hawkes Bay now with property listings up and less frenzied buying. “We are seeing good listings and stock levels are significantly back up. There is still strong buyer demand and we’re still achieving good results but it’s certainly a great time for people looking to buy a home.” Year on year growth in consenting for new residential dwellings was buoyed with a 247 per cent boost in new lots being created in the 2020-21 financial year. Matt says that in the short to long-term, land availability is not going to be a constraint on development going forward. Central Hawke’s Bay District Council information shows that analysis of resource and building consents for the last five years indicates there are up to 2,500 un-built sections in the pipeline – 80% of these from applications since the start of 2020 including those still in the processing stage. There are also plans to release further areas for development to meet demand. In 2020 Central Hawke’s Bay District Council developed its Central Hawke’s Bay 2050 Integrated Spatial Plan, to promote and encourage sustainable growth and smart use of its existing infrastructure. As a priority project, Council has been progressing towards the development of the Waipukurau South Growth Precinct, with an anticipated yield of 950 lots over the next 15+ years in the centre of Waipukurau. This precinct in development with both private landowners and the Heretaunga Tamatea Settlement Trust has been successful in the first round of Kainga Ora’s Infrastructure Acceleration Fund, as a development to fast track implementation, and if successful the first houses can be expected in the next three years.
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