The second-largest increase was seen in the Kaikoura District where median prices were up by 38 per cent to $545,000 in 2020 from $395,000 in 2019. Rounding out the top three was the Waitomo District, which saw its median prices rise by 35.3 per cent to $304,500 in 2020 from $225,000 in 2019. Real Estate Institute chief executive Bindi Norwel said the Wairoa District experienced an “extraordinary” level of median price growth last year, with house prices increasing by $104,750 in just 12 months. The sort of price growth levels shown in the data were levels expected over a number of years, not just a number of months, she said.
Kim Webby
House prices in Wairoa grew the fastest in New Zealand in 2020
4 Feb, 2021 08:30 PM
4 minutes to read
House prices in the Wairoa District had the highest growth rate in New Zealand last year with the median house price rising 63.5 per cent - over $100,000.
It s been described by mayor Craig Little and an industry expert as catching up to the rest of the country, but there are also concerns for first home buyers and locals being priced out of the area.
The latest analysis by the Real Estate Institute of New Zealand (REINZ) shows the median house price in Wairoa in 2020 was $269,750, up from $165,000 in 2019.