Tairāwhiti Gisborne is New Zealand's best-kept home-owning secret.
Homeowners are enjoying a great return on investment. Houses are affordable, investors can enjoy the highest returns in the country and mortgage holders here are some of the youngest – first-home buyers, we are talking to you!
The average house price in Tairāwhiti Gisborne is less than $270,000, so it’s achievable for many to attain the Kiwi dream of owning your own home. And there is a house style for everyone: lifestyle blocks, beachfront homes, riverfront homes, city apartments and lots of suburbs to choose from – each with a dairy on the corner that has great scooped ice cream.
Philip Searle, regional director of the Real Estate Institute of New Zealand, has worked in Tairāwhiti Gisborne real estate for 32 years.
"Without question, our affordable prices reduce pressure on families," he says.
Average mortgage debt in Gisborne is $210,142 – at least $180,000 less debt than that of Aucklanders. In February 2016, Realestate.co.nz found we offer the best return on rentals out of all of New Zealand – a healthy 5.78 percent average based on a $258,515 property. The average house price in Tairāwhiti Gisborne in December rose 16 percent from the year previous to $269,266. Over winter, house prices here rose by $11,844.
The average house price in Auckland has now soared to over $1 million. For $995,000, you can buy a run down, three-bedroom bungalow in Mount Albert, while $1.49 million will get you a modest three-bedroom cottage in One Tree Hill. In other words, not what springs to mind when you picture a million-dollar home.
In comparison, for just $450,000 in Gisborne, you can buy a house that's similar to this: a four bedroom home with a pool, new kitchen, two decks, large grounds, rose gardens with views over the Waimata River and your own personal jetty on to it, and still have $550,000 in the bank.
That's your retirement savings right there - and great value for money.
A recent survey showed 64 percent of Aucklanders who don't own their own home want to leave and are looking to the regions to buy. We know you have choices like Tauranga and Hawke's Bay, but Tairāwhiti Gisborne offers a superb lifestyle. It only takes five to seven minutes to drive most places in Tairāwhiti Gisborne city and there’s no waiting in traffic – we have a 'rush minute' at the most.
We bike to work on sunny days and nip out for a surf before work, after work and maybe during lunchtime too.
We also have time to watch the kids perform at school, have a lower mortgage and spend less time in the car and more time with family.
There's something for everyone here in Tairāwhiti Gisborne.
For families, there are plenty of gorgeous three-to-four bedroom restored villas here for sale for around $250,000 to $300,000.
For the doer-uppers, there’s homes ready to renovate, so you can reap the rewards of a capital gain as well.
For those wanting to start from the ground up, there are lifestyle blocks and sections waiting for you to build on with city and sea views, plus townhouses and apartments.
Or if you want property and income, Tairāwhiti Gisborne has some of the best soil in the world with citrus, avocado and kiwifruit orchards just a ten-minute drive from town.
This two-bedroom townhouse on its own section in Tairāwhiti Gisborne was freshly renovated and painted when it was bought for $172,500 in July 2015.
One year later, it was worth $220,000. The mortgage on this property is $216 a week and it has been rented for $280 a week. It's a five-minute walk to town and the beautiful Botanical Gardens.
Ten homes sold on the same street in 2016. The market is hot here, and word is getting out. Real Estate Institute of New Zealand’s Philip knows of a few people who have moved here and since invested in one or two more properties once they saw what they could get for their dollar.
We have a dozen or so real estate companies working in Tairāwhiti Gisborne and the surrounding areas like Mahia, up the East Coast and down to Wairoa.
All are passionate about living here and ready to help. The website www.realestate.co.nz has more than 290 homes listed for sale in Tairāwhiti Gisborne.
More and more people are deciding to sell their homes themselves, so don't forget to check out the 160 listings on www.trademe.co.nz as well.