Mount high on NZ pile
Friday 2 April 2004
Mount Maunganui has become the country's fifth most expensive residential area after its house prices soared as high as 50 per cent in the past year.
By The Landlord
Latest Quotable Value (QV) market statistics show the Mount is in the top five dearest areas, behind Auckland, Wellington and Queenstown.According to QV sales figures for the three months ending December, Mount Maunganui had an average house price of $331,000 _ and property prices have climbed even higher since December.
Auckland City had the highest priced residential property with sales averaging $491,000.
Queenstown was next with an average of $466,000 in that period, followed by North Shore City $429,000 and Wellington City $359,000.
Nelson City with sales averaging $287,000 and its neighbour Tasman with $313,000. Tauranga sales averaged $270,000.
Residential property prices at the Mount were 50 per cent higher than in Christchurch City on $225,000 and double those in Dunedin with $150,000.
Read More - Opens in a new window
Commenting is closed
House Prices
Is the market resurgence coming to an end?
Steady declines in value growth are becoming evident – as QV’s latest data reveals – and that suggests the housing market’s resurgence could be coming to an end.
Commercial
Augusta Capital takeover bid now unconditional
ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.
Mortgages
ANZ eases servicing test
ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.
