Dannevirke: Property market sizzling in Tararua

Tararua properties are doing really well.

There was no chilly wind blowing through Dannevirke's property market in August, instead the market was heating up.

"August was another good month with nine residential house sales and two small sections sold in Dannevirke," Paul Clayton, of PGG Wrightson Real Estate said.

A staggering $3,152,500 changed hands in residential property sales in the Tararua last month, but despite a sizzling market there are still bargains to be had. The lowest price paid for a house in Dannevirke was $66,000 and the highest, $420,000.

And Nigel Jackson of Dannevirke Property Brokers has confirmed the $72,000 Cole St house which featured on Paul Henry's TV3 breakfast show in late July has sold too.

"At the time of appearing on television we were dealing with someone interested in that house," he said. "But as a result of the television exposure I had a phone call from an Aucklander just as the show ended."

Mr Jackson said he also had an inquiry from a potential purchaser from Warkworth during Property Brokers' appearance at the Auckland Home Show.

"Real estate is about sowing the seeds, but feedback from the investment seminars we held in Auckland has been positive.

Meanwhile, Mr Clayton told the Dannevirke News the main movement in house sales in Dannevirke in August was in the $100,000 to $200,000 price range.

"This winter has been very busy for residential house sales in Dannevirke, mainly in the under $200,000 price bracket and this trend seems to have been nationwide."

REINZ chief executive Colleen Milne said activity nationwide remained very strong through August, with wintry conditions apparently no deterrent to sales. A rise in the number of new listings was matched by the number of sales, showing that buyers have emerged to take up the additional supply.

Ms Milne said the presence of Auckland buyers in other regions is also more noticeable and this was also reflected in inquiries from investors at the Tararua District Council's stand at the Auckland Home Show.

Woodville had just two residential sales in August, but Mr Clayton said there were seven sales in Pahiatua and 11 in Waipukurau.