Lakembas price has gone up by more than 20 per cent since the start of the year.
Auckland house prices are down 5 per cent compared with the same period last year, while Brisbane’s is down 4 per cent.
New South Wales house prices rose by just 2.9 per cent in the past year.
Key points:New South Welsh house prices have been boosted by higher-priced properties, such as the Riverview apartment building, which is owned by Mr Rizal’s daughter.
The price of new homes in the state has increased by 20 per the past three yearsThe number of properties in the RiverView property market is set to hit its highest point in 20 years, according to new research.
The Rizals bought the property in 2010, when it was a bargain price of $500,000.
The current property is a two-bedroom, four-bathroom apartment in Lakebays North property development, which also includes a restaurant.
“The market is very healthy.
It’s still fairly new, it’s a new site,” said Nick Rizala, senior vice-president of Rizali.
The latest figures for Lakembah show the average price of an Auckland home is up 13.5 per cent to $1.7 million.
In Brisbane, the price of one property is up 17.6 per cent, to $4.8 million.
But it is still the cheapest in Australia, at just $1 million.
“There’s a lot of competition and it’s really difficult to get property for under $1m, especially when the price is going up,” Mr Riza said.
The high prices in the Lakemban area has been driven by new developments in Lakembe, the heart of Lakembaca, and the River View property, which has a restaurant and an outdoor pool.
“They’re all new developments and it seems like everyone’s going for the same price, so you’ve got a lot more competition, and people are spending a lot less money,” Mr Shigetani said.
“People are not saving money and are saving more money.”
He said there was a lot that could be done to improve the property market, including providing more affordable housing.
The Government said the recent housing price growth was driven by strong growth in the Auckland property market.
“It is a good indication that Auckland’s housing market is on a more stable footing,” Housing Minister Jacinta Allan said.
But the latest data showed the number of people moving to the capital city for work, holidays and other reasons is on the rise, with more than a million people moving here in the first half of this year.
Mr Riza said more people were coming to the city to be closer to their families.
“If you’ve been living in Lakempa for a year, you’ve probably never been away for longer,” he said.