Waipā property prices increased 129.3 per cent in a decade making it the 10th best district in the country, figures from realestate.co.nz show.
Nationally, the average asking price was up by 77.5 per cent, increasing from $504,388 in 2014 to $895,289 in 2023.
The average Waipā asking price in 2014 was $473,697; last year it was $1,086,339.
The figures do not take into consideration variances between towns. The median asking price in the last 12 months for Karāpiro was $1,575,000, Ngāhinapōuri $1,349,000, Te Miro $1,300,000, Ōhaupō $1,250,000, Cambridge $1,100,000, Pirongia $1,059,000, Te Awamutu $750,000 and Kihikihi $722,500.
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Nationally, the standout years for significant price growth were 2019 to 2022, with the average asking price increasing by almost 40 per cent.
Unprecedented growth in 2021 and 2022 can be attributed to several factors, including low interest rates, population growth and limited housing supply, which combined to create a competitive market environment.
In the Waikato region, while Waipā’s percentage increase put it at second, below South Waikato in first – its average price went up from $204,292 to $553,926 – it was second in total value behind Waikato district on $1,155,673 from $532,295 a decade ago.
Again, it does not consider the significant variances with the median asking price in Tamahere for the past 12 months being $1,779,500 while in Huntly it was $539,000.
Districts ahead of Waipā were Hauraki Gulf Islands (171.8), Kawerau (261.2), Taupō (132.5), Wānaka (135.3), Rangitikei (132.6), Whanganui (142.6), Horowhenua (149.8), South Taranaki (131.2), South Waikato (171.1).
