Welcome to our monthly Rotorua property report. We will take a look at Rotorua real estate trends, compared with the wider Bay of Plenty region and National property statistics, as reported by REINZ.

Rotorua's median price increased from $430,000 in December 2018 to $457,500 in December 2019, representing a 6.4% increase year on year. This compares to a price increase of 4.1% for the Bay of Plenty region and 12.3% nationwide over the same period.

Sales volume in Rotorua was up 8.5% year on year, compared to 21.5% for Bay of Plenty and 12.3% nationwide. 

Another notable statistic for Bay of Plenty is current days to sell, sitting at 37 days, which is less than the 10-year average for December of 46 days.

Real estate in Rotorua and the Bay of Plenty region continues to exhibit strong growth metrics. Neville Falconer, REINZ Regional Director, notes in the REINZ Monthly Property Report, "there has been a slight decrease in the number of first home buyers in the market compared to last month, however, overall there continues to be a steady number of local buyers attending open homes looking for their next permanent home. Low term deposits have pushed investors to look elsewhere for alternative investments and property is seen as a better performer. The market continues to perform well across all price brackets and property types. Buyers tend to be spread across the market with marginally more activity within in the middle to lower end price brackets."

We hoped you enjoyed this month's Rotorua property report. If you would like a FREE market appraisal based on the latest Rotorua property sales, please get in touch with Rotorua's best real estate agent on 021 922 533 or send us a request for appraisal.