The Future of Property in Taupō
What's in store for our property market? This question is top of mind for many Kiwis, as New Zealand begins its recovery from COVID-19.
Taupō is a vibrant destination town, on the shores of a beautiful crater lake with plenty of attractions year-round. Like other areas, COVID-19 is having an impact on the local property market, however, local tourism and support is making a big difference.
Gratitude for Local Tourism
Tristy Vadnjal says as soon as Level 2 began Taupō began bustling with its usual good vibes, great coffee, happy business owners and visitors on boutique shopping trips.
Taupō is a place that many people have visited with their families, as a tradition for decades, and thankfully that continues
“Living in Taupō we have an undeniable feeling of gratitude as the majority of our tourism is not reliant on international visitors - domestic tourism is absolutely huge," says Tristy.
Challenges and Opportunities
Tristy and Shaun say people are looking to buy and sell at the same levels pre-COVID.
“Moving through levels 4 and 3 buyers were initially more cautious, with only serious inquiries coming through. However, since Level 2, we’ve had homes go under contract at similar prices to pre-lockdown,” says Tristy.
People who had contracts go unconditional during lockdown have become buyers, and with fewer options on the market, it’s becoming a race as they don’t want to rent if they can avoid it
For new builds in Taupō, Shaun Vadnjal says they recently listed some house and land packages and have received positive responses.
"Buyers say the banks seem more favourable to new builds. However, it’s a little early to gauge demand in general. Investors may be cautious and wait for a more stable climate, or some could take advantage of the lower interest rates. Time will tell," says Shaun.
The Magic of a Small Destination Town
Tristy says Taupō has the potential to grow and offers so much to people wanting to move here, to raise families, retire, or to start a business.
We have a whole lot of magic in a small town
"Taupō offers something for everyone, freedom, fun, friends, space, sports, nearby ski fields, the feeling of community, and short travel time to other North Island destination!" says Tristy. Shaun is also optimistic about the future of property in Taupo and believes the Market will determine the price, Covid-19 or not.
"It's all about supply and demand. Taupō punches well above its weight!”.
Are you looking for expert advice about your next move in Taupō? You can contact Tristy or Shaun or give our friendly team a call on 0800 82 55 76.