Rotorua house sales up 65 per cent

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Rotorua's buoyant property market is on the up again - with the number of houses sold in March up 65 per cent on the same time last year.

On March 175 houses sold in Rotorua, up from 106 the previous March and 137 in February, according to REINZ's monthly statistics released today.

The figures also showed the median price for March was $270,000, up 2.8 per cent on March 2015.

REINZ regional director Philip Searle said sales volumes across the region continued to rise strongly with demand from Auckland investors being the most noticeable feature across the Waikato and Bay of Plenty region.

"It seems clear that investors from Auckland are selling out of that market with its low yield and LVR restrictions and investing where yields are better and with fewer restrictions."

- Rotorua Daily Post

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