The Mount Maunganui and Papamoa property markets appear to be improving with 28 Mount homes valued at more than $1 million sold in 2009.
The median house prices in both Mount Maunganui and Papamoa have increased too, also indicating the property market is improving.

Ray White Mount Maunganui owner Russell Maxwell.

In the three months to the end of December 2009, median house prices in Mount Maunganui and Papamoa increased to $440,000 from $407,000 in the previous quarter and $435,000 in the December quarter 2008.
The number of homes in both regions increased to 59 during the same period, compared with only 46 sold during the same period in 2008.
Ray White Mount Maunganui owner Russell Maxwell says 2009 was a quiet year for the property market in Mount Maunganui and Papamoa.
He says a quiet end to 2009 in December was followed by a busy January and he expects 2010 will be an improvement on 2009.
'The demand for beachfront property has always been there.”
'Mount Maunganui and Papamoa are still very popular.”
A spokesperson for Professionals Property Advocates in Mount Maunganui, who did not want to be named, says an average of 33 properties in Mount Maunganui have sold every month over the past 12 months.
'That's a dramatic drop on previous years. When things were going along quite nicely, the number of properties selling every month could have been two or three times higher.”
He says the most expensive Mount Maunganui property sold by the company over the past 12 months was worth about $3 million.
'About 75 per cent of all sales would be valued at $600,000 or under. The recession has affected most people's cash flows.”