A Rotorua lifestyle block sold this year for $1.17 million has reaped $865,000 in resale profit, new data has revealed.
CoreLogic's latest Pain and Gain report showed the sale made the largest profit of all Rotorua properties sold between January 1 and March 31.
The $865,000 profit was made on a home on 28ha of land in Ngongotahā Valley, which was bought for $305,000 25 years ago and sold for $1.17m this year.
The report revealed more than 99 per cent of Rotorua property resales during the first quarter of 2019 made a profit.
Residents made a median profit of