PHOTO: Auckland’s property market

Auckland’s property market has bounced back from the slump, with almost half the city’s suburbs showing meaningful house price growth, new figures show.

Figures from property listing site OneRoof and its data partner Valocity show that while the country’s biggest housing market is still trailing the rest of New Zealand for growth, house prices are starting to move back to levels last seen during the boom.

Among the biggest winners were a clutch of suburbs on the fringes of Double Grammar Zone. OneRoof editor Owen Vaughan says: “Property values in Royal Oak, Greenlane, Three Kings and Kingsland, grew between 5 and 8 percent year on year to end of December 2019.

“The popularity of these suburbs had waned at times during the last 24 months but they rallied towards the end of 2019 as buyers capitalising on low interest rates sought out homes close to the CBD that did not carry the Grammar Zone premium, with properties there typically transacting between $1.2 million and $1.5 million.”