Commentary

Waipawa residential property values have softened modestly since the end of the property boom, having reduced around 10% off their peak. Most recent urban residential development in Central Hawkes Bay has been in Waipukurau, and as a result the average age of housing in Waipawa is increasing, and may help explain the softening values in the town. The fortunes of Waipawa are very much determined by the prosperity of the local farmers. Waipawa is also seen as a more affordable option for those willing to commute to work in Hastings.

The Central Hawke’s Bay District Council have been very accepting of small lifestyle developments within Central Hawke’s Bay. A lot of lifestyle development has occurred since the 1990’s and much of it is of a reasonably good standard. This development has given rise to in an oversupply of lifestyle blocks resulting in very competitive prices. This has placed downward pressure on values at the upper end of the value range in Waipawa.

Median property values in Waipawa are on par with Waipukurau, but tend to be more affordable than most areas of Napier and Hastings.

Our valuers are in Central Hawke’s Bay most weeks, and know the market well. Please contact Added Valuation for your next registered valuation in Waipawa.