Commentary
Taradale, once the darling of Napier’s suburbs, continues to demand a value premium over other areas of Napier, however the premium is narrowing. Higher values now appear to be attributed to a mostly newer and higher quality of housing in Taradale, rather than demand for the location per se. Over the past couple of years values have risen slightly in Taradale (consistent with a general trend across Napier).
This is illustrated in the four bedroom market where prices in Taradale are on par with those elsewhere in Napier (in 2002-2005 they were on average about $50,000 above Napier). We believe this is because the average quality of Napier four bedroom dwellings has improved (with new builds), and Taradale houses have continued to age. The marginal price differential for two and three bedroom home has remained relatively static, due mostly to the newer and higher quality of two and three bedroom homes in Taradale.
Our registered valuers are very experienced in the Taradale market and would welcome the opportunity to assist you with your next valuation.
