But Wanganui properties still among the most affordable in NZ
First home buyers are returning to the affordable Wanganui property market, and even buyers from outside the region are looking for bargains here, according to a Wanganui real estate agent.
The latest Real Estate Institute of New Zealand (REINZ) figures reveal a jump in local house prices on the back of a sustained period of decline, giving homeowners a welcome lift.
Meanwhile the QV New Zealand Herald Property Report showed the cheapest area to buy during the quarter ending November 30 was Castlecliff, with a median price of $107,000, while the most expensive area was St John's Hill at $256,500.
Wanganui Property Brokers branch manager Philip Kubiak said first home buyers were returning to the market after the recent introduction of Reserve Bank lending restrictions on borrowers with deposits of less than 20 per cent.