[Via Rotorua Daily Post]

Median property values in Mangakakahi and Utuhina have jumped 30.3 per cent, with Fairy Springs and Western Heights close behind, according to the latest Quotable Value New Zealand E-Valuer report.

Mangakakahi values increased from $197,000 to $256,000, while Utuhina rose from $246,750 to $321,450 in the 12 months to September 30.

The October value for Mangakakahi was $260,100, while Utuhina recorded $319,800.

The highest median value suburb was Lynmore, which at $518,400 was up 21.9 per cent on September 2015, with an October value of $521,200.

Harcourts Rotorua sales manager Clare Willis said Mangakakahi was reasonably close to town and had taken off 12 months ago.

“It’s a good middle-of-the road investment area,” she said.

Utuhina was on the fringe of town with some good streets, and the rise in both suburbs was not a surprise, she said.

“The investors were driving our market back then, but we’re not seeing as much activity from them now because the 40 per cent deposit change has taken some of those investors out, giving first-home owners a chance to get back in. But there’s not a terribly big amount of good property to choose from.”

“Rotorua is a city that’s in catch-up. People are looking for good places to live that are within easy access to amenities. And both those suburbs are good access areas.”

He noted that quite a lot of Mangakakahi was actually industrial, but had good access to the city and was also on the fringe of areas that have become more popular recently such as Western Heights.

– via Rotorua Daily Post

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