Rotorua house sales rise 72%

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There's been another big jump in the number of houses sold in Rotorua, with latest figures showing 179 properties sold in Rotorua in June compared with 104 in June last year.

Real Estate Institute of New Zealand figures, released this morning, show the median property price in Rotorua in June was $285,000, up from $276,000 in June last year but slightly down ($285,250) from May.

The 72 per cent increase in sales was the highest growth in the Waikato/Bay of Plenty region for June.

Reinz regional director Philip Searle noted the continued strong rise in media prices was driving up seller expectations and making it more difficult for first home buyers.

"Despite the lift in prices, demand remains strong and the supply of listings continues to fall away creating more competition for those properties available for sale."

- Rotorua Daily Post

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