Turangi the town to watch, says NZ real estate leader

Century 21 New Zealand has recently re-launched its office in Turangi, buoyed by the growing popularity of the riverside town just south of Lake Taupo.

Late last year the ribbon was cut on the newly refurbished office, Century 21 Premier (Turangi), in the town’s central mall. As well as a facelift, it has a new franchise owner, Wai Johnson, whose team is now energised by the exciting times for Turangi real estate.

Quotable Value statistics for the year ending December 2016 show average property values in the wider Taupo district were up 14% compared to the previous year – outstripping the 11.2% recorded growth for Auckland City during the same period.

“Taupo real estate has been pretty quiet for some years but now we’re seeing some real lift helped by the fact that property prices at the southern end of the lake are gaining some serious interest and traction,” says Century 21 New Zealand National Manager, Geoff Barnett.

“The local team at Century 21 are off to a great start, with more and more Kiwis waking up to the amazing opportunities Turangi presents. There are three and four bedroom homes selling for less than $150,000 which is only about a 10th of what similar homes in some parts of Auckland are selling for. It’s incredible value given Turangi’s proximity to so much,” he says.

Mostly built in the 1960s and 1970s to house those working on the Tongariro hydro-power project, the ‘Trout Fishing Capital Of The World’ is also known for the nearby skiing, hiking, mountain biking, whitewater rafting, and boating – helped by its proximity to Lake Taupo, Mount Ruapehu, and of course the bordering Tongariro River.

“Once the hydro dam scheme was complete, the Ministry of Works sold off its housing stock in the 1980s and now we’re seeing many properties coming on the market again,” he says.

Turangi is increasingly a beacon for international backpackers and is fast becoming a key tourism destination in the North Island. Plenty of accommodation and adventure tourism businesses are now based in the area and the town boasts a great selection of cafes.

Mr Barnett says with Taupo house prices gathering strength, many looking for a holiday house near Lake Taupo are now considering Turangi.

“And in all honesty, they should! The place is only getting better and better. An increasing number of prospective buyers are now solely holiday-makers. Century 21 agents are seeing more Aucklanders blown away by the fact that a holiday house may in fact be well within their financial reach.”

He says the town’s location spells a bright future.

“It’s literally in the middle of the North Island with both Auckland and Wellington less than four hours away. What’s more with the ongoing Waikato Expressway improvements and Transmission Gully now under construction, Turangi’s only getting closer.”

With a permanent population of approximately 3,000 people, Turangi is a completely planned town. It has some attractive tree-lined curving streets and cul-de-sacs, plenty of community amenities, and is quiet given it is well separated from SH1.

“Rents are increasing in the area as are property prices, yet it’s still so affordable, particularly given interest rates remain low. There are not many other locations in New Zealand, where you can purchase solid, quality homes at these prices and enjoy the lifestyle Turangi has to offer.”

The recent re-launch of the Turangi Century 21 office not only reinforces the company’s confidence in Turangi but is another example of the growth drive Century 21 New Zealand is currently on, says Geoff Barnett.

“The great thing about Century 21 is that we’ve got an unbeatable international reach given we’re the largest real estate organisation in the world. With our global website we’re instantly marketing the likes of holiday homes in Turangi to the world in whatever language you ask for. These kinds of places are also getting spied by expat Kiwis wanting a little bolthole back in New Zealand.”

Mr Barnett says with real estate in Auckland and other key cities remaining strong, and with many of the regions now experiencing significant growth, Century 21 remains confident in 2017.

www.century21.co.nz

ENDS

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