Looking for a bargain? Or perhaps a luxury lakeside mansion? Rotorua has it all
The cheapest, a three-bedroom home in Murupara, is on the market for just $49,000.
There are bargains to be found in Rotorua with the 10 cheapest homes on the market all going for under $100,000.
Marketed towards investors or first home buyers, the houses all have two or three bedrooms with many promising solid rental returns.
The cheapest, a three-bedroom home in Murupara, is on the market for just $49,000. Listed since October, it is currently tenanted and comes with 885sq m of land.
Agent Judy Clarke, of Eves, said the property was in good condition and currently had good tenants paying $145 per week. She said there had been a lot of interest in the property, however the problem was the banks were unwilling to finance mortgages unless the buyer had a huge deposit.
Ms Clarke said this was a common issue with properties in the less desirable areas and was making the Murupara house almost impossible to sell.
Marketed with the tag line "Untidy and Unloved!", the third cheapest property at $79,000 "could be considered attractive" with a little bit of care. On Pohutakawa Dr, it has three bedrooms and was previously rented for $170 per week.
Six of the 10 cheapest homes are in Owhata, including three on Pohutakawa Dr and two on the adjoining Beech Pl.
Real Estate Institute of New Zealand spokesman Ian McDowell, of McDowell Professionals, said the bad reputation of certain areas meant homes in the area were notoriously hard to sell. He said for investors, it could be difficult to get reliable tenants to guarantee money coming in.
At the other end of the scale, the most expensive properties in the Rotorua area are, unsurprisingly, mainly to be found around the lakes.
The most expensive on the market is a $4.5 million Lake Tarawera property featuring two two-bedroom homes on three titles. The property, marketed by Professionals, has been on the market since 2006.
Listed just three weeks ago, Pounamu Lodge comes in at three on the list at $2.65 million. For that you get a main residence, a two-bedroom cottage and a studio, all on the shores of Lake Tarawera.
Mr McDowell said the lakes properties were a different proposition to those in town, with many bought by out-of-towners. He said there were also some good high-end homes currently on the market in city areas such as Lynmore, for around the $600,000 to $700,000 mark.