Why the Auckland luxury real estate sales are in the spotlight?

By: December 14, 2016

Would you believe that Auckland saw a 63% growth in million-dollar-plus sales thanks to strong international and local demand? Some real estate analysts say that there is a connection between the growth of Auckland real estate sales and Trump’s victory and Brexit. I think it is more about the booming of the Pacific Rim economy.

Furthermore, let’s not forget other positive aspects like:

  1. The strong economy of New Zealand;
  2. New Zealand’s “open door” housing policy;
  3. Macroeconomic factors in the world’s financial markets;
  4. The Auckland luxury real estate is a bargain;
  5. A flood of foreign investment and
  6. A lack of capital gains taxes have made.

What is sure that in Christie’s International Real Estate Luxury Thermometer Index Rankings Auckland luxury real estate market overtook Toronto (Sydney is #9).

According to the Real Estate Institute of NZ (REINZ), 2016 has been a record-setter for luxury residential property sales volume in Auckland. REINZ classifies “high-end” as NZ$10 million or higher.


This is why I thought to share with you 3 interesting real estate projects not so far away from Auckland:

  1. Tara Iti Golf Club (the golf course was designed by Tom Doak) and its associated real estate community (Te Arai: 1,365 hectares (3,400 acres) of total land). The finished homes will be ready for early 2017.
  2. The Jack’s Point golf community in Queenstown will feature over 1300 residential homes. It is a $250 million-plus project.
  3. Wanaka Golf Club – a new golf resort development now taking shape in Wanaka.

It will be interesting to see the future of these real estate projects. Whether the tough-minded and value oriented Generation X buyer will find any of them attractive for investment or not. In the US, we can already see a trend that they are not so interested in homeownership.

Auckland luxury real estate Tara Iti

The photo about the golf course was made by Joann Dost.