Buyer confidence is returning to Western Bay of Plenty, with real estate sales spiking in the Waihi Beach and Waihi area.

Real Estate agents has been busy this year with the return of property market activity after having a prolonged quiet period.

“It has been a quiet period for the Waihi Beach property market as home sellers typically rely on people with disposable income to buy a batch as a secondary purchase. That market has been cautious,” says LJ Hooker Waihi Beach principal Gary Alway.

With nearly 3000 residents, the Waihi Beach property market relied on the ‘selling a house to buy a house’ market.

“Bank interest rates have come down a bit and people have decided if they can survive now rates are only going to go down, which has seen a spike in sales and interest in the area.”

In the first quarter of 2024, data from the Real Estate Institute of New Zealand show 28 houses were sold in the Waihi Beach area, and 13 of those were listed by LJ Hooker Waihi Beach.

Compared to the same period in 2023, only 11 properties were sold and six of them were by LJ Hooker.

“We had a busy end to the quarter, with more than 20 contracts presented to vendors in March. We also ended the month with 15 properties under contract and eight sold in March alone.”

Families are eyeing up the area wanting to make Waihi Beach a place they can enjoy regularly.

“We had a fantastic summer this year with about 40,000 visitors. People want a holiday home here and we are hearing that they are sacrificing the renovations or family holiday to Fiji to get a home at the beach. Property prices are the cheapest they are going to be, so they have decided it is best to invest now.

“Waihi Beach has always been the playground for the Waikato and Auckland, which is where we regularly see interest, but we are noticing more interest from the South Island and expats in Australia looking to move home.”

LJ Hooker Group Head of Network NZ Campbell Dunoon attributed the success of LJ Hooker Waihi Beach in the area to their dedication to getting the best results for their clients and the community spirit within the team.

“The team at LJ Hooker Waihi Beach knows the market inside and out. They know who their buyers are and how best to market properties to get results. Despite there being much competition in the real estate market, with 13 firms now operating in the Waihi Beach area, buyers and sellers continue to trust Gary and the team at LJ Hooker Waihi Beach. That comes down to their local values and offering a better product that gets results for their clients,” says Dunoon.