Rotorua's property market is growing says Len Pemberton, from McDowell Real Estate Ltd Rotorua.
Thursday 12 November 2015, 2:50PM
By Media PA
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Rotorua’s property market has seen thriving sales, well ahead of national figures, and housing stocks back to sustainable levels.
New data from the Real Estate Institute of New Zealand shows Rotorua sales volumes have risen by an incredible 71 per cent. This is well ahead of the national sales volumes of 18.6 per cent and all regions. There were 158 sales last month with 49 sales accredited to The Professionals---representing a 29.5% market share.
The latest data has demonstrated a return to balance for the previously uneven property market.
“What we are seeing is a more normalised market and a bit of catch up to balance out the market,” says Len Pemberton, from McDowell Real Estate Ltd in Rotorua.
“Traditionally Rotorua has flown under the radar but in recent months things have started changing. Strategically located in the centre of the North Island, Rotorua’s significant untapped property potential is starting to emerge and this new data reflects that,” says Len.
But why the sudden interest in Rotorua? Last year there were many announcements around proposed developments and now they are all happening. “This has resulted in more business confidence in Rotorua and that is drawing more people to our region,” adds Len.
Investors from Auckland, Tauranga and Hamilton are currently looking at the attractive Rotorua market. “Many people coming from Auckland are buying higher-end properties,” comments Len.
And after all Rotorua is New Zealand’s number one tourist destination with an average daily visitor number of 8,500 people.
“This has created another opportunity for investors in the holiday-home market by purchasing Rotorua homes near popular lakes or attractions,” adds Len Pemberton.
Contact Len Pemberton:
Address: 1290 Eruera Street, CBD, Rotorua City, Rotorua, New Zealand 3010
Phone: 021786010
Facebook: www.facebook.com/leonardspemberton
Email: len.pemberton@mcdowell.co.nz
Website: realestaterotorua.nz
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