The average values of residential properties in Tauranga have fallen 4.2 per cent compared to one year ago while the number of sales dropped by 15 per cent,.
CoreLogic Best of the Best: Rotorua s top-performing suburbs of 2020
18 Dec, 2020 05:00 PM
5 minutes to read
An aerial view of Rotorua. Photo / File
Investors and first-home buyers looking to get on the property ladder have helped boost the median property value in Fordlands by almost 30 per cent over the past year. Fordlands remained Rotorua s cheapest suburb - promoting a surge in demand with properties being snapped up at a median of just 12 days, according to a new property report.
Properties were also selling fast in the city s most expensive suburb, Tihiotonga, which recorded a median value of $775,850. Houses in the suburb had the shortest period on the market before selling - an average of just six days.
CoreLogic Best of the Best report: Tauranga s top-performing suburbs of 2020
18 Dec, 2020 05:00 PM
6 minutes to read
An aerial photo of Mount Maunganui. Photo / File
Tauranga has its first million-dollar suburb, according to a new report. Median values in Mount Maunganui have now tipped over the $1 million mark, according to CoreLogic s Best of the Best 2020, with Matua not far behind.
The report identifies the top-performing suburbs over the past year and predicts what 2021 might bring.
Experts say the year brought unexpected events, including the strong post-lockdown rebound.
With key drivers including low mortgage rates and a tight supply of listings, it was hard to see the property market being thrown off course in 2021, the report said.