Average Rotorua house values have edged up slightly in the past 12 months, figures show.
The latest Quotable Value figures for September reveal the average current value for a Rotorua property is $275,445 - up 0.7 per cent from 12 months ago, but still down on the 2007 market peak.
New Zealand property values rose at an 8.4 per cent annual pace last month ahead of the introduction of the Reserve Bank's low-equity home lending restrictions, with the increases driven by a shortage of houses in Auckland and Christchurch.
Trade Me's latest quarterly rental analysis shows average rents have dropped 0.4 per cent in Rotorua for the June-September quarter, compared to the same period last year.
Supply of rental properties has risen 14.5 per cent, and demand is up 2.8 per cent.