Rotorua house values jump 20 per cent

Add a comment
FILE IMAGE
FILE IMAGE

House values are continuing to rise in Rotorua - with figures just released showing values are now 20.2 per cent higher that the same time last year.

According to the QV House Price Index for June, which was released at midday today, the average current value for a house in Rotorua is now $327,596.

That is 7.2 per cent higher than three months ago with values now sitting 11.6 per cent above the 2007 market peak.Nationwide, residential property values for June have increased 13.5 per cent over the past year.

QV National spokesperson Andrea Rush said nationwide values were now rising at the fastest rate since 2004, up 5.6 per cent over the past three months alone and the nationwide average value was now nearing $600,000.

"Many housings markets around the country are continuing to be driven by strong investor demand, low interest rates, rapid price growth in the Auckland market and strong net migration."

- Rotorua Daily Post

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

Have your say

1200 characters left

By and large our readers' comments are respectful and courteous. We're sure you'll fit in well.
View commenting guidelines.

© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production bpcf05 at 25 May 2017 19:18:10 Processing Time: 279ms