Median Rent Nov 2024: $630 p/w
Median Rent Nov 2023: $600 p/w
Population 2033 (Proj.): 374,400
Population 2023 (Proj.): 346,900
HPI Dec 2024: $840,000
HPI Dec 2014: $390,000
Nestled on the northeastern coast of New Zealand's North Island, the Bay of Plenty is a region renowned for its stunning landscapes, abundant sunshine, and thriving economy. If you're considering property investment, here are compelling reasons why the Bay of Plenty should be on your radar:
1. Strong Economic Growth: The Bay of Plenty boasts a robust economy driven by diverse industries such as agriculture, horticulture, forestry, tourism, and manufacturing. With major port facilities in Tauranga and a flourishing export sector, the region offers stability and opportunities for investors seeking long-term growth.
2. Property Demand and Growth: With population growth fuelled by both internal migration and international immigration, the demand for housing in the Bay of Plenty is on the rise. This increasing demand, coupled with limited housing supply, creates favourable conditions for property appreciation, making it an attractive market to see capital growth in your investment.
3. Infrastructure Development: The Bay of Plenty is experiencing significant infrastructure development, including transport upgrades, new housing developments, and commercial projects. With modern transportation networks, including highways, ports, and airports, the Bay of Plenty benefits from excellent connectivity within the region and to major centres like Auckland and Hamilton. These investments not only enhance the region's connectivity and liveability but also contribute to the overall growth and prosperity of the property market.
4. Strong Population Growth and Urban Development: With the rapid population growth, cities like Tauranga are witnessing significant urban development and infrastructure investment to accommodate population growth, creating opportunities for property investors to capitalize on rising demand for housing and commercial properties.
In summary, investing in property in the Bay of Plenty offers a compelling combination of economic prosperity, property demand, infrastructure development and urban developments. Whether you're seeking rental income, capital growth, or a place to call home, the Bay of Plenty stands out as a prime destination for property investment in New Zealand.
Data sources: REINZ, Tenancy, Stats NZ