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Home / Rotorua Daily Post

Fordlands values outpace rest

Katie Holland
Rotorua Daily Post·
14 Mar, 2014 11:00 PM2 mins to read

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Fordlands' property values have climbed more than any other suburb in the North Island, according to a recent report.

The QV.co.nz quarterly report shows average values in suburbs and areas based on a computer valuing tool.

The North Island figures show values have climbed the most in Fordlands, followed by Tuakau - south of Pukekohe - and the Hamilton suburb of Rototuna North.

In the 12 months to December 2013, Fordlands' average property value increased by 12.4 per cent to $120,200.

Nearby suburbs Utuhina and Hillcrest also saw significant increases, up 7.7 and 6.9 per cent respectively.

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Yesterday, there were 14 Fordlands homes and one section listed for sale on realestate.co.nz - the houses ranging from $97,000 for a three-bedroom home on Meadowbank Cr to $229,000 for a three-bedroom on Malfroy Rd.

VIP Realty principal Dave Umbers said some "good stuff" came on the market in Fordlands and his agency sold a number of homes there.

He said you could buy a reasonable house in the suburb for $80,000 to $100,000, which was attractive to many.

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Mr Umbers said the Rotorua market wasn't "jumping out of its skin" at the moment and in his view it had gone from being a sellers' marker a few months ago to a buyers' market.

He said Lynmore was positive and growing, Springfield was reasonable and values were climbing in Pukehangi.

Eves Rotorua manager Tony Stack said his agency's "bread and butter" were mid-range houses in areas such as Western Heights and the eastern suburbs.

He said his company didn't actively market to Fordlands and hadn't sold any homes there in the last quarter. He said Utuhina and Hillcrest were always good solid family areas.

Ian McDowell of McDowell Professionals said home values throughout Rotorua hadn't gone up tremendously apart from in Lynmore, which was the "place people want to live".

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The latest monthly figures from the Real Estate Institute of New Zealand show the median house sale price for Rotorua jumped 25.3 per cent during February to $288,250 - up 6.4 per cent from the same month last year. There were 70 sales last month.

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