New Data From realestate.co.nz Shows Coromandel On 15 Year High

Coromandel has bucked the property value trend and is showing an average asking price of $1,317,265 well ahead of major areas like Auckland ($1,169,463) Wellington ($968,976) and Canterbury ($730,314). The national average asking price was $942,961. Coromandel at $1,317,265 was up 13.6%.

Spokesperson for realestate.co.nz, Vanessa Williams says, “While the rest of the country saw cooling or stable prices, the Coromandel hit a 15-year record high, overtaking Auckland as the second most expensive place to purchase property.”

One of the drivers for the hot Coromandel market is likely to be the availability of stock. Year on year the Coromandel homes on the market has grown by 82.7% which is one of the lower growth rates of regions around New Zealand. Homes on the market in Coromandel totalled 274 and was one of the lowest regions around the country.