REINZ: Rotorua lakefront property demand amplified as median sale prices soar
20 Jan, 2021 05:00 PM
6 minutes to read
Demand for lakeside property has amplified . Photo / File
Demand for lakeside property has amplified , leaving some Rotorua agents surprised by what people are willing to pay for waterfront views. Median sale prices in places like Lake Tarawera skyrocketed nearly 70 per cent in the year to December, putting more value on living by the lakes.
However, agents fear a shortage of lakeside listings and say some people were choosing to upgrade family baches and stay put.
Real Estate Institute of New Zealand data showed the median sales price at Lake Tarawera has jumped 69.5 per cent to $1,400,000 from $826,000 in the year to December 2020.