Rotorua house sales were on the up in March as the median price dropped more than 20 per cent from the previous month, latest real estate industry figures show.
Real Estate Institute of New Zealand (REINZ) monthly sales analysis figures showed 86 houses were sold in Rotorua in March, compared to 70 in February - a 22.9 per cent increase.
In contrast 87 houses were sold in March last year.
However the median house price dropped from $288,000 in February down to $225,000 in March - a reduction of 21.8 per cent. In March last year the median price was $256,000.
Professionals McDowell Real Estate owner Ian McDowell said renewed interest from investors for houses in the $200,000 or less price range was driving sales.