Yesterday Sunlive published an article highlighting the phenomenal growth experienced in Tauranga over the past 30 years. Population has doubled and is expected to grow by another 50,000 people over the next three decades.
What does this mean for real estate? Well before we look forward let’s wind the clock back to the mid 1980s, a simpler time when traffic flowed and a beach house might have set you back a cool 70k.
We’re talking pre harbour bridge, a trip to the beach from Tauranga meant driving via Maungatapu. The port was concentrated on the Mount Maunganui side of the harbour, leisure island has a waterpark complete with waterslides and bumper boats and you could catch a concert at the soundshell on Mount Drury.
For shopping you had two options, Downtown Tauranga or Mount Maunganui. There was no Bayfair, no Fraser Cove, no Tauranga Crossing, or Papamoa Plaza, in fact Papamoa itself was just a collection of baches and the odd house mainly concentrated on Papamoa Beach Road.
The idea of a traffic jam would have seemed absurd back then and those who remember will have fond memories of the easy commute down the single laned Hewletts Road. No big apartment blocks down the Mount either, in their place was a number of baches and the iconic Oceanside Hotel where generations of locals and travelers shared beers, meals and stories to the latest tunes from the likes of The Exponents, Crowded House, Dave Dobyn and Split Enz.
Now back to real estate, with 50,000 more people arriving in the next 30 years and an area rapidly running out of space for new residential developments it seems the only way to go is up – apartments.
According to Sunlive Tauranga City Council agrees, having identified the area which runs from the Harbour Bridge to Barkes Corner, including the Avenues, Gate Pā, and Greerton, as having the ability to accommodate growth. This area was historically known as Te Papa meaning ‘the flat area’.
Tauranga City Council General Manager for Strategy and Growth, Christine Jones says Te Papa is centrally located and already has some of the key community, social and infrastructure assets in place.
“To manage the long term growth of our city over time, the Te Papa peninsula provides an opportunity to provide more housing choices in close proximity to significant employment hubs, services, schools and parks.
“It’s also well serviced by public transport services that will improve in frequency over time. The peninsula also has a comparatively lower risk to the natural hazards that our coastal areas face.”
Now apartments aren’t for everyone and perhaps they don’t fit into the traditional kiwi quarter acre dream narrative but at Cashmores we think it’s inevitable that we’ll see more and more apartment developments popping up around our city and in our listings in the near future, including a cut price listing coming on the market very shortly in Mount Maunganui.