Location, location, location. It seems to be the biggest selling point for people looking to buy luxury property in the Bay of Plenty. Lakeside views, plenty of land and seclusion are what real estate agents say are attracting buyers, particularly to Rotorua. Property reporter Zoe Hunter unlocks the latest OneRoof/Valocity data and discovers how much Rotorua property sales made in the last year and what the city's biggest sellers were. Local real estate agents also talk about what tops the list of must-haves for those spending top dollar.
Rotorua house sales banked more than $600 million in the last 12 months, new data shows.
The latest OneRoof/Valocity property report showed the total sale value of homes sold in Rotorua during the year to August was $611,810,036. The total number of homes sold was 1384.
Rotorua's top sellers included a Westbrook home at 21/275 Pukehangi Rd, which sold for $2.2m in October last year.
Other top sales included $2m for 295 Oturoa Rd, $1.5m each for properties at 20/275 Pukehangi Rd, 209 Tumoana Rd and 91f Turner Rd.
OneRoof editor Owen Vaughan said lakeside views and land space were big drawcards for Rotorua property buyers willing to pay top dollar.
"For people who want lakeside living next to great forestry, Rotorua is a compelling prospect," he said.
Simon Anderson, chief executive of Realty Group, which operates Eves and Bayleys, said homes on Pukehangi Rd had great views, a good location and were quality homes.
Most of them had plenty of land as well and were close to the city centre but were excluded from the hustle and bustle, he said.
Anderson said a top sale of $2.2m was a great result for Rotorua but was not surprising given the way the property market was going.
"People are recognising good real estate," he said.
Tremains Real Estate Rotorua manager Malcolm Forsyth said the top sellers included properties on larger sections.
"The bigger sections bordering lifestyle blocks are attractive to people who are looking for that," he said.
Forsyth said Rotorua was a popular destination to live and many people were making enquiries on homes across the board, valued between $300,000 to $1m.
"We have got people looking at Rotorua and saying it makes sense," he said. "What you can buy for $1m or $1.5m in Rotorua, you can only dream about it in Auckland."
First National principal and Rotorua Real Estate Institute of New Zealand spokeswoman Ann Crossley said lifestyle buyers were very specific buyers.
Crossley said these types of properties can create buyers, including people who have been waiting for that particular property to come on to the market.
"It is very seldom that we have a whole list of top-end buyers sitting and waiting," she said.