Rotorua house prices rising

House prices have risen in the Rotorua District over the past year. PHOTO/ BEN FRASER

Median house prices in the Rotorua District have jumped 13 per cent in the space of a year.

Just-released figures from the Real Estate Institute of New Zealand (REINZ) show the median house price in the district in January was $365,000.

That was up from $323,000 in January 2017, but down from $385,000 in December.

The median price across the Bay of Plenty region increased 3 per cent compared to January 2017.

The biggest median price increases were in Kawerau and Whakatane, with 34 per cent and 25 per cent respectively.

REINZ regional director Philip Searle said January 2018 was busier than January 2017 in the Bay of Plenty.

"After the lull in activity during the election period, people appear to be getting on with their lives. Listings are slightly down. However, some investors are selling homes because of the
impending new Healthy Homes requirements.

"We have people wanting to purchase, but they are just trying to find the right type of property for them. The interest is mainly from younger people looking for holiday homes and people relocating from the cities for retirement."