Standalones & suburbs
Suburbs nationwide are emerging at a rapid rate – and buyers are once again favouring standalone spaces.
D espite the general slowdown of recent years, standalone houses are beginning to regain ground in many suburbs, according to insights from Cotality NZ’s latest Mapping the Market report.
People are opting for detached housing – larger area, increased privacy, and more control of their living environment – over townhouses and flats. Suburb developments in more affordable areas across the region, coupled with easing mortgage rates, are tipping buyers towards standalone homes.
This suburb-level breakdown offers a valuable view into emerging trends when it comes to buyer behaviour and affordability constraints, says Cotality NZ’s Chief Property Economist Kelvin Davidson. Since March, 62% of suburbs (1652 of 2661) recorded flat or rising median values for standalone houses, with 22% of those experiencing an increase of at least 2%. As the national housing market shows fresh signs of stabilisation, “Detached houses, particularly in smaller and more affordable suburbs, seem to be where the early recovery is taking hold,” Kelvin adds.
In the main centres, strong results for standalone houses were recorded in Dunedin, Little River outside of Christchurch, Wellington’s Kelburn, Temple View in Hamilton, and Auckland’s Bethells Beach. In comparison, the recovery among townhouses and flats has been more restrained. Just over half of suburbs (54%) saw values hold steady or rise, and only 16% experienced growth of 2% or more.
