In Whanganui, the first home buyer market is still active in part because of people moving into the area, many of them Aucklanders.
They're coming not just because properties are cheaper but also because of the lifestyle the area offers, says Steve Ellis, principal for Harcourts Whanganui.
“Whanganui on the whole is one of the cheaper areas in the country. We've had a lot of people move to Whanganui and very happy they did so.”
Sometimes older people come to Whanganui, enticed by the lifestyle and mild climate, then younger generations follow.
Start your property search
“People move to Whanganui and then their kids buy properties here.
“Whanganui’s a very easy place to get around. It's got the surf beaches, relaxing beaches, you've got the ski fields just an hour away, you've got the river, and it's a very sporty town.
“There's a lot of activities in this town that all the youngsters like. If you get a job in Whanganui, you’re five minutes away from anywhere.”
Ellis says in Whanganui first home buyers are often a little older, perhaps in their 30s and already with families, so they are looking for a nicer property whereas cheaper properties are generally sold to investors.
But the prices are absolutely a drawcard – what costs $600,000 or $700,000 in some parts of the country costs $500,000 in Whanganui, Ellis says.
There are plenty of areas for them to get a home in and a popular suburb is Castlecliff at the beach, which used to be a lower socioeconomic area but which is transforming.
“There are $1m-plus homes out that way or there's your lower-priced probably around $400,000 to $500,000 depending on what part you're in.
“There's nice houses and nice estates springing up all over Whanganui. There's been quite a lot of building going on.
“For a really good house, for a good, basic, starter position, you'd be looking at about half a million dollars. Our average pricing here is about $550,000/$600,000.”
- Click here to see properties for sale in Whanganui.
