Rodney Sees 6.2% Median Price Increase

March 29, 2018

I have always stated that high quality coastal lifestyle property will remain a very good investment for the savvy investors and the latest REINZ institute report shows that. 

Latest REINZ figures show that Rodney's median house price rose again in February to $880,000 up from $855,000 in January and up from $829,000 in February 2017- a year on year increase of 6.2%. This figure was even achieved with a lower sales volume than the same time a year ago. 

 

The Omaha and Point Wells markets remain “steady as you go” however though buyers are still remaining a little cautious about investing at this time, I'm still getting lots of enquiry which continues to outweigh the number of listings coming onto the market.

In the last few weeks, 4 Paraoa Cresent and 110 Mangatawhiri Road in Omaha both sold. One sold very quickly, the other took slightly longer, however both vendors achieved very satisfactory outcomes and are pleased with their result.

That is really the story of the market at the moment, some properties are taking longer to sell, but prices are remaining constant.

I have three new listings coming onto the market within the next 10 days. Priced from $1.8m-$3.5m there are opportunities for pre market inspection, so please feel free to contact me for further information. 

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