Once Hastings’ ‘hidden secret’ suburb, the area of Frimley is no longer under wraps, with strong value growth and good demand, the Frimley area is experiencing rapid development, quickly making it one of Hawke’s Bay’s most desirable suburbs for new build investment properties.
Surrounded by well-regarded primary and secondary schools, Hastings Sports Park, Frimley Park, pools and home to the iconic eatery ‘Little Frimley Kitchen’ (enter at your own risk, their doughnuts are something else 🍩 ). Frimley is not only an attractive place for the renting family, but the working professional being only a stone’s throw away from the Napier-Hastings expressway (zoom zoom 🚗 ) and the Hastings hospital.
With demand continuing to outstrip supply for rental properties in Hawke’s Bay, we are seeing a strong interest from property investors looking to enter the market or add to their rental portfolio by considering the option of new builds. And it seems the suburb of Frimley, isn’t far behind the level of development occurring across the river in the booming suburb of Te Awa, Napier!
As property managers, we continue to believe new build investment properties are an ideal scenario for both the homeowner and tenant, with lower ongoing maintenance costs for homeowners and healthy home standards being met from day one – It’s a yes from us!
So, how do rent prices between the suburb of Frimley, Hastings and Te Awa, Napier stack up?
(both suburbs in Hawke’s Bay experiencing significant housing development in 2022).
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Median rent Frimley, Hastings:
3 bedrooms $610 per week
Median rent Te Awa, Napier:
3 bedrooms $700 per week
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Median rent figures as of July 2022 – Statistics courtesy of tenancy.govt.nz
*It is worth taking into consideration the older age of a large percentage of existing housing in the Frimley area compared to Te Awa, which is contributing to the Frimley median rent statistic.
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With Rentsmart’s active presence in the Frimley area and with our reputable experience managing new build rentals, be sure to give us a bell if you are interested in receiving more insight into new build investment properties in Frimley, Hastings.
Already building your investment property in Frimley? Even more reason to get in touch, so we can provide your free new build rental appraisal.
Sam Murdoch (New Business Manager) 027 841 3223