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22 Oct 2020 10:21
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  •   Home > News > Business

    Property prices in holiday hotspots are leaping ahead of many city areas

    Property prices in holiday hotspots are leaping ahead of many city areas


    Whitianga, Wanaka, Pauanui and even Te Anau have all experienced a 50 per cent-plus boom in property prices in the past three years.

    Tourism, investment and being able to able to move to the beach are being cited as reasons driving the rapid rises.

    According to the Real Estate Institute, Wanaka prices were up 61 percent compared to three years ago, to a median price of 1.12 million, and Te Anau rose 55 percent to 465-thousand.

    Institute chief executive Bindi Norwell says they're continuously seeing values rise in holiday hotspots.

    © 2020 Newstalk ZB, NZCity


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