New Zealand's fastest selling suburbs revealed

New Zealand's fastest-selling suburbs are also one of the most affordable, according to new research.

New data analysis from CoreLogic and OneRoof – NZME's property listing site – has identified the suburbs where properties spend the shortest time on the market before sale.

New Zealand's fastest growing suburb is Awapuni, a leading residential area in Palmerston North's south east borders Massey University and is popular with students. According to CoreLogic data, we have a market value of $ 373,750.

Interactive: New Zealand's fastest selling suburbs – how does yours compare?

Only seven suburbs with median values ​​of above $ 1 million cracked list – all in central Auckland.

A total of just 16 suburbs where the median days to sale in the 12 months to June 2018 was less than $ 650,000 – the proposed price of a new three-bedroom KiwiBuild home.

OneRoof editor Owen Vaughan said the data indicated that fast-movers to be cheaper where value growth is higher.

"The most promising results came from affordable rentals, meaning a lower accessible buy-in price and more substantial upside

Watch: Gone in less than 20 seconds – Affordable Auckland

"The average median value of the 10 suburbs in New Zealand where the mediator was just weeks ago shy of $ 400,000. "

The top 10 fastest moving suburbs were: Awapuni, Terrace End and Highbury, in Palmerston North; Springvale, in Whanganui District; Mosgiel, in Dunedin; Marewa, in Napier; Akina, in Hastings; Feilding, in Manawatu; Stoke, in Nelson; and Bell Block, in New Plymouth.

Vaughan said: "The data shows there are scores of locations

"

CoreLogic and OneRoof looked

CoreLogic and OneRoof looked

"It's heartening that much of the activity is taking place outside Auckland. at 293 suburbs across New Zealand that had been recorded in the year ending June 2018, and identified 62 locations where the properties were spent in the

The number of fast-moving suburbs was slightly up on the year ending June 19, 1965, the majority of fast-moving suburbs were located in the North Island, where property markets

Fast-moving suburbs in the South Island are concentrated in the south, in Dunedin, where the market is heated, and Invercargill, and the northern tip , Nelson, Tasman and Marlborough.

The data suggests a strong correlation between time and value, with fast-moving suburbs. 19659002] Nearly a quarter of the fast-moving suburbs in the past 12 months.

FOR MORE PROPERTY NEWS AND LISTINGS GO TO ONEROOF.CO.NZ [19659002] Demand in Auckland was highest in suburbs that were in the Double Grammar area – giving residents access to the country's best performing state schools – or popular locations where there is a limited supply of housing, such as Stonefields.

CoreLogic NZ senior rese archer Kelvin Davidson said: "A year ago, out of just short of 1000 total suburbs across New Zealand, there were 59 'fast-moving' suburbs across the country – those with at least 100 sales in a 12-month period and less than 62.

The stability in the number of fast "The share of the fast-movers in the South-shore" (19659002) "The share of the fast-movers in the South-east. tip. The dominance of the North Island in the fast-movers is

"Of the 33 suburbs that appear as fast-movers in the 12 months to June 2018 and the 12 months to June 2017, 19 are in either Wellington / Hutt Valley or Palmerston North.

"Khandallah, in Wellington, has had its way from 21 to 17, while Naenae, in Lower Hutt, dropped from 19 days to 16. Highbury and Roslyn, both in Palmerston North,

"There is also a tendency for the fast-movers to be The price of the suburbs appeared in both time periods, and the value of $ 500,000 in the case of Appleby in Invercargill, for example, has a median value of just $ 164,300 and is growing at 15.9 per cent over the past 12 months. 19659002] "Only one suburb that has seen double digit growth has a median value of more t $ 500,000 – Taradale, in Napier, whose median value is $ 550,350. "

Bayleys national residential director Daniel Coulson said:" There are certain dynamics in play in the majority of these fast-moving suburbs. What we are seeing is a limited supply of properties in many of these areas, "

He added:" In Auckland, fast-moving suburbs tend to have a specific geographic location and a finite supply of property. For example, if you want to live in Stonefields you have to buy in Stonefields. You do not have flexibility in terms of comparable stock in the neighboring suburbs.