Over the past 2 years we've seen a big change in the wider Tauranga community. The area was mocked for being a large rest home by the sea... and let's be honest there was an element of truth to that. Tauranga has, historically speaking, had a large representation from the older demographic.
But, as I'm sure you've heard from many sources, that’s changing.
Tauranga is now one of New Zealand’s fastest growing cities. This has been thanks to an influx of people from other, larger centres. Local house sales have leapt by 38% in 2015 and annual employment growth was 13%.
There are a number of different reasons why people are moving to Tauranga but, there are some that our teams hear consistently:
- less traffic
- more flexible lifestyle
- cheaper house prices
- larger sections
We've seen a mix of demographics enquiring about property but, again there are some consistencies. The majority of the people/families moving to the region are first home buyers and/or investors.
As a real estate business, the changes in our market have meant we've had to evolve. The question always has to be, "what is the best sales plan to deliver the best outcome for our vendor?" If you're always asking that question then you have to evolve to deliver.
Tauranga's evolution is now mature enough that we've started to see the first of the new wave bring their properties back to market. This is often the first opportunity that these families have to capitalise on investment. This is something that our team find really exciting. Here's the story of one of these situations:
- First home owners in Papamoa had spent two years renovating their home and due to their growing family it was time to move on.
- They set their reserve for auction day with little or no room to move if the market didn’t meet their requirement on price. Adding even more tension, to what is already a tense experience.
- Competitive bidding brought them delight and a comfort zone for them by selling $32,000 above their reserve.
Recent market conditions have been favourable to auctions and it's been amazing to see these deliver results. There is nothing better for us than seeing a young family walk away smiling and well set up for the next part of their story.
A big congratulations from the EVES team to this awesome young family. We loved being part of this journey and look forward to many more of these stories too come.
Thinking about going to auction? ask one of our sales people to see our auction tips video.