Property

Rotorua house prices soaring

Rotorua has finally shed its reputation as a "poor cousin" in the real estate market with prices booming by 26 percent.

Thursday, October 13th 2005

Figures released this week show the average sale price in Rotorua was $212,207 - up 26 per cent from the same month last year.

Other Central North Island districts are also experiencing growth in property values with September prices in Opotiki averaging $163,971 - a huge 63.8 per cent rise on September 2004.

In her 10 years in the real estate industry, Bayleys Rotorua residential sales manager Beth Millard said she had never seen such an exciting time for the district, or such growth in the market.

She said people were finally starting to feel confident investing in Rotorua and there was no sign of the trend slowing. The amounts properties were selling for was at times so high it stunned even the real estate agents selling them, she said.

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[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50