Buyers could snap up four Tokoroa houses for the cost of a single bedroom in top Super City suburbs, Real Estate Institute figures show
Auckland house prices have surged so much that the cost of just one bedroom in the suburb of Remuera is more than four times the price of an entire house in Tokoroa.
The Real Estate Institute (Reinz) has worked out the median cost of a bedroom in some of Auckland’s most expensive suburbs and compared it with the median houses prices in some affordable towns around the country.
The figures are based on house sales over the past 12 months and include land values.
Reinz also looked at the bedroom price in some of Auckland’s cheaper, often first home-buyer, suburbs but they were still the same price as two whole houses in Tokoroa.
New Lynn had a bedroom price of $181,639 and Henderson’s was $165,946. The institute did not look at Herne Bay because there were not many sales compared with the other suburbs.
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