South Auckland skyrockets - pre-lockdown

A rebound in values is underway in Auckland, with REINZ data showing December sales were the highest in four years – particularly in the Papakura District – which were up by 65% on the year before. After a period of stagnation for several years, prices are on the up too, with a 4% rise in values over the past year.

In South Auckland, this is being evidenced at the coalface, with market participators noting the lift in numbers of investors in the market and increased demand from first home buyers.

Trader and investor Nathan Mudafar says in the two weeks prior to Christmas there is typically an empty auction room, yet in the days before Christmas last year, auction rooms were packed in South Auckland.

“I think that’s probably a good indication of what’s been happening,” says Mudafar. “We’ve come back this year and it’s already going strong again – every time I go to an auction now, every property has a couple of bidders.”