Commentary
The coastal lifestyle, convenient to both Hastings and Napier is what attracts residents to Haumoana. Haumoana is now almost exclusively occupied by permanent residents as opposed to holiday accommodation.
Property values in Haumoana vary significantly due to the wide range of quality from modest cottages to substantial homes, as well as locational value differences due to position and views.
Annual median selling prices remained stable between 2008 and 2014 and since then, has steadily increased to around $48580,000, before dropping by the end of 2019 to around $400,000. Being a small settlement with a wide value range means these statistics can jump around and need to be considered with caution. Overall, our view is that the market continued to strengthen until the effects of Covid19.
For like for like accommodation, values in Haumoana are significantly lower than those in neighbouring Te Awanga.
The Haumoana property market behaves differently to most localities in Hawke’s Bay. Lifestyle is key and the market is often less materialistic. There is an artistic flair with appreciation for an imperfect quaint cottage.
The effect of Covid19 on the Haumoana market is, as yet unclear, however the economic impacts of Covid19 will be widely felt and values may fluctuate in the short term.
Our registered valuers recognise that, we understand that the influences in the Haumoana property market are different to most other areas in Hawke’s Bay.
