Commentary
Havelock North is a preferred residential locality of Hawke’s Bay and achieves significant value premiums over most locations. The quality of housing is good and the suburb benefits from a north facing position on the Te Mata Peak foothills. Unlike many Hawke’s Bay suburbs, Havelock North has little price resistance of up to and in excess of $1,000,000, and many houses now sell in excess of $1,500,000, particularly on the suburbs lifestyle fringe.
Like all areas of Hawke’s Bay, Havelock North rose sharply during the property boom. After peaking in 2007 values withdrew to a low in 2012 but have regained strength with significant increases from 2016 to early 2020.
Four bedroomed dwellings (a sizeable portion of the market) tend to achieve a premium of approximately $120,000 on average over three-bedroom homes in Havelock North.
The effect of Covid19 on the Havelock North market is, as yet unclear, however the economic impacts of Covid19 will be widely felt and values may fluctuate in the short term.
Registered Valuer Rob Douglas has specialist knowledge of the Havelock North property market, living there himself. He would welcome the opportunity to assist you with your next valuation in Havelock North.
