Cashed up Aucklanders and investors who've been snaffling Tauranga properties are now turning to the Rotorua market.
The number of people ‘seriously looking' at buying property in Rotorua has increased nearly three times more than the rest of the country over the past 12 months.
Data released by website realestate.co.nz indicates a 20 per cent increase in what is considered ‘serious buyers' looking at the Rotorua property market from June to August compared to the same time last year.
A so-called serious buyer is defined by numerous criteria; someone who spends at least 22 minutes on realestate.co.nz in one session, view approximately 32 pages of houses, saves search terms that generate properties to be emailed to them, and have made contact with an agent.
Thirty-six per cent of all those ‘serious buyers' looking at Rotorua properties are from the Auckland.
It's the ripple according to the website's head of marketing Vanessa Taylor.
'They had been looking at Tauranga, Hamilton and North Hamilton. But that pond has cooled and they're now looking at outer areas, including Rotorua.”
The most searched key term for Rotorua in the realestate.co.nz data is 'home and income rural”, which indicates people are looking for income opportunities. The majority of the serious home buyers were aged between 35–54.
Telfer Young Rotorua registered valuer Mike James says the figures reinforce the trend that people looking to move for affordability and lifestyle.
'Rotorua is central for employment opportunities being close to Tauranga and Hamilton, and property is more affordable.”
FIGURES FROM REALESTATE.CO.NZ ROTORUA AND SURROUNDS:
Key search terms for Rotorua and surrounds:
- Home and income rural
- Tenant
- Lockwood
Gender:
- Female - 64.7 per cent
- Male - 35.6 per cent
Age
- 18-24 - 6.6 per cent
- 25-34 - 18.2 per cent
- 35-44 - 22.7 per cent
- 45-54 - 24.8 per cent
- 55-64 - 20.9 per cent
- 65+ - 6.7 per cent
Current location of serious buyers
- Auckland - 36.23 per cent
- Bay of Plenty - 24.74 per cent
- Waikato - 7.43 per cent
- Wellington - 3.01 per cent
- Queensland - 2.82 per cent
- New South Wales - 2.55 per cent
- Western Australia - 2.36 per cent
- Canterbury - 2.29 per cent
- Hawke's Bay - 2.04 per cent
- England - 1.97 per cent
2 comments
Rotorua?
Posted on 28-10-2016 20:22 | By Crash test dummies
Sorry no beach, cold and wet most of the time. No comparison unless you are looking for cheap property and even cheaper tenants.
Personally don't think so..............
Posted on 28-10-2016 23:22 | By groutby
Having lived in "Vegas for several years, I can't see too many serious buyers moving from Auckland (in particular) to Rotorua, but of course there will be a percentage looking to move that way, naturally driving prices up a little. A boom?...really don't think so.
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