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.
CoreLogic: Rotorua s average property value nears $600,000
6 Jan, 2021 05:00 PM
6 minutes to read
Rotorua s average property value has climbed to almost $600,000, as the city records its highest value growth in five years. Real estate agents were working through the holiday period to help ease some of the spectacular demand for property and a pre-Christmas rush in December.
Home values in Rotorua jumped nearly $50,000 in the last three months of 2020. The city s average property value was now $595,638.
CoreLogic NZ s latest House Price Index showed Rotorua s quarterly growth rate climbed 8.8 per cent from $547,473 the previous quarter.
It is the strongest quarterly growth since August 2016 when values rose 9.3 per cent to $347,966.
Rotorua housing market: Has it become impossible for first-home buyers?
16 Dec, 2020 06:38 PM
8 minutes to read
Has it become too hard to get on to the property ladder in Rotorua? Photo / File
Has it become too hard to get on to the property ladder in Rotorua? Photo / File
Stephanie Arthur-Worsop is the Rotorua Daily Post s News Directorstephanie.worsop@nzme.co.nzTheDailyPost
Record house prices month after month, low interest rates creating more competition, a cap on the first home grant that doesn t match current house values and a severe housing shortage. Has this perfect storm of factors pulled the property ladder out of reach of first-home buyers?
Bay of Plenty property market red hot: Sales volumes highest since 2016
15 Dec, 2020 04:00 PM
6 minutes to read
Property in the Bay of Plenty was selling at a record-low of 30 days. Photo / Getty Images
Property in the Bay of Plenty was selling at a record-low of 30 days. Photo / Getty Images
Property in the Bay of Plenty was selling at a record low median of 30 days, with the region s annual sales volumes during November the highest they ve been since 2016. Rotorua real estate agents say rock-bottom interest rates, a shortage of stock and fear of missing out were driving the demand to get in quick.