January real estate sales in Tararua best in more than decade

Record January: Paul Clayton, a real estate consultant with PGG Wrightsons, reports Tararua's market was off to a record start.

With booming real estate sales in Tararua, January was a record month, outstripping the last 10 years in sales volumes.

"It has been an impressive start to the year in the Tararua and you have to go back more than 10 years to better this January," PGG Wrightson consultant Paul Clayton said.

There were 32 residential sales in Tararua for January, with the majority of those in Dannevirke, which started this year in the way it ended 2017, with 16 residential sales, including one section.

"The properties also went for good prices, with the cheapest house selling for $110,000 and the most expensive at $315,000," Mr Clayton said.

And it seems the closure of the state highway through the Manawatu Gorge last April is now turning into a win-win for Woodville's property market.

"Woodville was off to a very brisk start, with five residential deals, including two sections," Mr Clayton said.

Tararua District mayor Tracey Collis said the lift in sales in Woodville was a reflection of the opportunity a direct, safe and resilient new road to replace the Manawatu Gorge provided.

"I expect we will see more investment throughout the Tararua District being unlocked when a decision on the new route is announced in March," she said.

"I am looking forward to the economic development this will bring and enable in our district."

Pahiatua also had a good start to the new real estate year with 10 homes changing hands.

The trend of more sales in January was in line with a national trend, REINZ chief executive Bindi Norwell said.

"January can often be a quiet month for the industry as people spend much of the holiday time at the beach or the bach.

"However, clearly the warmer weather has helped sales, as it's the first time we've seen a positive year-on-year sales increase in seven months," she said.

And Tararua's rural/lifestyle market is also doing well, with 14 sales in January, including six in Dannevirke, three in Woodville and four in Pahiatua.