Auckland’s Takapuna and Milford waterfront properties are attracting huge interest which is impacting on nearby suburbs, the Kellands Real Estate quarterly forecast report said today.

Substantial demand from buyers for waterfront property is lifting prices dramatically in places like Belmont and in the Bays, said the report just released today.

“Our clients also benefited from unprecedented growth on Lake Pupuke in our Hurstmere luxury apartment development receiving between 30-60 percent growth in just two years.

“We have analysed the sales history of 144 of Takapuna and Milford’s most expensive homes and these owners have had an average of 10 percent compounded long term growth and fantastic tax free gains.

“With only 150 truly beachfront properties it is not surprising that supply and demand rules.

“The coastal market is still very buoyant, especially for properties that enjoy direct water access.’’

Prime Waiheke Island waterfront property is harder to find and prices are holding well.

Posted: 10|10|05 at 9:00 am. Filed under: Property News.