Norfolk Rise, Stage 3B

Welcome to the esteemed Norfolk Rise located in Brookfield Tauranga, where in stage 3B you’ll find 10 meticulously designed three-bedroom terraced homes. These architecturally crafted homes balance elegance and functionality, with spacious open-plan living areas catering to versatile lifestyles.

These stunning townhouses are visually appealing whilst maintaining functionality, low maintenance and affordability. The exterior is finished in 3 modern materials: bricks, Linea Weatherboard and Axon Panel, to ensure your home is finished to an exact and long-lasting standard.

On the ground floor, each unit consists of a single garage, laundry, and a spacious double bedroom. The hallway on the ground floor seamlessly connects the downstairs bedroom with its very own bathroom, perfect for privacy.

Upstairs you will find a spacious open-plan, kitchen, living and dining area as well as two well-proportioned double bedrooms and a bathroom. The kitchen and dining area opens onto the generously sized balcony, which is ideal for a morning coffee while enjoying the elevated site's beautiful views.

All townhouses will possess a high standard of fixtures and fittings along with beautiful, modern interior color schemes to create a feeling of warmth and space throughout. The modern, neutral tones allow you to add your own personal touches with furniture and home décor.

These homes seamlessly blend into the modern and contemporary neighbourhoods aesthetic. Convenient covered parking, sunlit outdoor spaces, and well-considered storage options contribute to each hom’s allure.

completion due Q3 2024

Location

Located in the sunny Bay of Plenty, Norfolk Rise is flanked by the northern central suburbs of Brookfield and Bethlehem, only 5 minutes from Tauranga’s city centre.

Norfolk Rise has easy access to the express-way, with many shops and all levels of schooling within close proximity, including a short walk to Brookfield Primary School.

• Gordon Carmichael Reserve 1.8km

• Brookfield Shopping Centre 1.9km

• Fernland Spa 2.1km

• Otumoetai Intermediate School 3.7km

• Tauranga CBD 5.1km

Note: Cost to own and cashflows are approximate examples only. Actual results achieved will vary based on purchase price, interest rate, deposit %, providing carparks, providing furniture, insurance, property rates and rental rate. Please download free analysis software to complete your own analysis. Our team can help you with this, so don’t hesitate to contact us.

Investment Analysis

Described as New Zealand's "most unaffordable city," Tauranga, the nation's fourth-largest urban center, presents a compelling proposition for property investment on multiple fronts. Its population is rapidly expanding, yet the issuance of building consents has plummeted to a record low, with a mere 24 permits granted in January 2024. This figure starkly contrasts with the city's historical average of 94 consents per month, highlighting a significant shortfall in construction activity.

With Tauranga already facing a shortage of 5,500 homes, the current trend of demand surpassing supply is exacerbating pressure on housing availability and prices. The dearth of warm, dry, and affordable dwellings underscores the appeal of investing in newly constructed, competitively priced townhouses within the city. Townhouses are in high demand due to their scarcity amid a general lack of affordable housing options, translating into promising rental yields exceeding 4.5%.

Anticipated rent increases in Tauranga are further supported by recent data from Trade Me, indicating a record surge in rental prices, with the Bay of Plenty region surpassing Auckland as the country's most expensive rental market. Moreover, a recent analysis by CoreLogic highlights that it takes longer to accumulate a home deposit in Tauranga compared to any other major urban center, intensifying rental market pressures as home ownership becomes increasingly unattainable in the city.

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