Suburb of the Month - Millwater
Introducing Millwater, one of Auckland's newest residential districts.
The area was previously included in the suburb of Wainui, which means ‘view of big water'. See our rental analysis below!
Nestled between Orewa and the Silverdale shopping centre, the rapidly-growing Hibiscus Coast suburb of Millwater has north-facing slopes and tranquil valleys, with views to bush and sea. It's close to a wide range of recreational opportunities and, most importantly, it offers quick access south to the employment hubs of the North Shore and Auckland CBD.
In all ways, Millwater is a lovely and convenient place to live, which means it's a fantastic place to own rental properties. Property Manager Andrea Kumerich of Rentex regularly gets great tenant feedback about life in Millwater.
"Millwater residents say to me ‘We feel away from the hustle and bustle of the city, yet we're only 30 minutes from the city centre'. They love the tranquillity of Millwater and its close proximity to a choice of beaches.”
Types of properties in Millwater
Millwater has a great mix of homes attracting families, professionals and retirees. Some of them are larger homes with up to six bedrooms that suit families with children, as well as multi-generation families. Newly-built terraced houses have two or three bedrooms, which suits small families and professional couples. They're well designed with private outdoor living areas. There are also a number of low maintenance two-bedroom apartment developments that offer ‘lock up and leave' convenience for people who like to get away on their free days.
Rents range from around $550 a week to the high $800s. The largest executive properties can go for $1000+ per week.
Map of Millwater, Auckland
The benefits of buying new
For investors who are looking to add to their property portfolio, new properties are highly attractive.
Guarantees from the developer will often take care of any initial teething issues and the properties are generally low maintenance.
Landscapes are easier to cope with because trees are more likely to be small. A yearly prune will keep things under control and is so much easier than the massive jungle-taming exercises you can have with older properties.
Tenants love new properties because the appliances and interior furnishings are new. This may also provide investors with considerable recoverable depreciation, which is something to discuss with your accountant.
What's great about life in Millwater?
Large range of house and apartment designs to choose from; modern, designer, bungalow and villa cues.
Wide berm, tree lined streets with all services located underground.
Public transport is readily available with bus routes via Orewa and Silverdale
Strong community - Millwater Families - Silverdale on Facebook
Zoned for primary and secondary schools with high decile ratings
Just five minutes away from Orewa Beach, plus cycleway/walkway access from Millwater.
Shopping centres in every direction – Silverdale, Orewa and Whangaparaoa. Close to the Silverdale sports complex and Snow Planet.
Close to large parks, family-friendly outdoor areas and three international golf courses.
Not far from the Matakana wine region, Mahurangi Regional Park and Tawharanui Regional Park.
Check out free monthly magazine The Millwater Mag, February 2016 issue out now!
Like to know more about property management in Millwater?
Contact us on 0800 RENTEX (0800 736 839). We'd love to help.