First home buyers and kiwifruit orchardists are investing in Opotiki property despite recent figures putting it in the bottom 10 places for value.

Figures from Quotable Value New Zealand show the average house prices in the Opotiki area have dropped by 9.4 per cent in the year ending in August.

With an average house price of $156,722, Opotiki sits at number eight in the bottom 10 suburbs of the country.

Harcourts Opotiki owner Wendy Moore says there has been no improvement in the local property market in the last year as property values continue to decline.

'It is such a small market out there,” says Wendy.

'There definitely has been no change in the decline in property values.

'Investor buyers are not as big as they used to be and are investing in smaller volumes than before.”

Despite the continuing decline, Wendy says there has been an increase in the number of first home buyers as their five year Kiwi Saver schemes come into play.

'We have seen more first home buyers purchasing property in the area than we have in recent years.”

Recent threats of Psa on Gold kiwifruit in the extended Te Puke area have not discouraged potential buyers.

Ray White Opotiki owner and local resident Jackie Rooney says although the value of property is down they have had increased interest from investors, first home owners and those looking to purchase kiwifruit orchards.

'Times are tough throughout the country – banks are not giving good interest, however, we are still getting interest from first buyers and orchardists.”

With a lot of growth expected in the Opotiki region with the introduction of a new bike trail and the long term development of shellfish in the marina, Jackie says she expects the market to pick up.

'The towns still itself and there will be lots of growth in the future. There is a lot here for people to choose from.”

Also sitting in the bottom 10 is the suburb of Te Aroha in the Matamata Piako District with the average property value down 8.8 per cent to $210,111.