‘More buyers than listings’ sees property prices surge 12.2 pct in Tauranga’

‘More buyers than listings’ sees property prices surge 12.2 pct in Tauranga’
14/05/2018 , by , in INTERNATIONAL

Houses in one part of Tauranga have seen median prices rise 12.2 per cent in one year, according to new figures from the Real Estate Institute of New Zealand.

The REINZ figures showed the largest rise in median house price in Western Bay of Plenty was in the Te Papa-Welcome Bay ward, jumping from $508,000 to $570,000 year on year, a 12.2 per cent increase.

Houses in the Maketu-Te Puke ward area had the second biggest increase in the Western Bay, with the median house price rising 10.2 per cent from $490,000 in April 2017 to $540,000 last month.

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