A Tauranga builder is having to enlist the full-time services of a boutique architect as demand for mid to high end property, and land, in Papamoa continues to reach a premium.
Since March 2005 Coast Homes has sold 21 homes, including the land on which they are built, with an average sales price between $650,000 and $800,000, plus four surpassing the $1 million mark.
Coast Homes director Steve Short says he cannot see demand slowing down any time soon, given the staggering buying activity in recent times as people look to capitalise on a booming market.
Backed by recent figures showing house sales in Mount Maunganui and Papamoa hitting a nine-year high, the median price along the stretch of coastline now sits at $582,000, with more Aucklanders making the 207km trip down the motorway to the Bay of Plenty looking to cash in on affordability.
“There are only six lots of titled land available in Papamoa so you can’t get land for love nor money,” says Steve.
“Our sections are being secured even before going to the market. This is testament to the quality of service and product that we at Coast Homes can bring to the market.”
Steve says emphasis on quality to last the distance and being in control of the value of your home by building from scratch are increasingly dominant considerations in the current market.
“Building a new home used to be a bit of a mystery to many and a daunting task. But there’s been a real shift in recent times to building a home so that the value, rather the perceived value of an existing home, is real and totally measurable.
"People want to be in control and are very aware of the building process."
Steve says that in the past there may have been a misconception that areas such as The Lakes and Pyes Pa were proving more popular due to affordability in medium density areas.
However, he says this is no longer the case with a noticeable shift in the medium to high end of the market, where Coast Homes aligns itself.
A flow on effect has seen a Tauranga boutique architect working tirelessly, and expanding his business, to keep both contracted demand and a waiting list in check.
“I have noticed a huge jump in concepts moving into consents. Over the last two months I have designed about 12 homes with 90 per cent moving into consents already,” says Archistudio founder Kyle Goldsack, one of Coast Homes’ four preferred architects.
“With this huge demand I have had to employ staff to take on the huge load of consent work, as have all the other architects and designers locally. It is a really exciting time for Tauranga’s construction industry.”
What stands out for Kyle, since first working with Coast Homes during its 2008 inception, is Coast Homes’ client assurance of a well-designed, yet affordable home, without the risk and hassle of unknown hurdles often associated with building a bespoke home.
The flexibility of a new build, allowing people to have an input and to see their dream home materialize before their eyes, is a big enticement, he adds.
“The Bay of Plenty has boomed and one of the areas to see exponential growth in the region is Papamoa. It has all the hallmarks of a great life.
"Looking back even six months, people were moving here first and foremost for the lifestyle and affordability. Now there is huge demand for well-designed homes with an affordable price tag.
“There is a real shift in how people want to live, with more emphasis on design than the biggest brick and tile home they can fit on a site.”