Real Estate In The Bay – The Latest REINZ Figures For Tauranga

Image of Tauranga apartment

The Real Estate Institute of New Zealand (REINZ) has released their latest figures today and, according to the new data, Tauranga house prices have jumped 4.5 per cent.

The latest data shows the median house price in Taurangas jumped to $635,000 in July 2018 from $607,500 in July 2017. Interestingly though, However, the median house price dropped 3.1 per cent from $655,000 in June 2018 to $635,000 in July 2018.

According to the REINZ regional director Philip Searle, as quoted in the Bay of Plenty Times, the Bay of Plenty market was still seeing low stock levels with a number of new listings attracting multi-offers.

“Investor numbers are jumping and are up to 60 per cent of the total buyer interest, and most of the investors are locals who know the area well.”

Searle said the low listing numbers were keeping the prices strong with vendors’ expectations remaining at the same levels.

You can read the full Bay of Plenty Times article Here.

If you are thinking of buying an investment property in Tauranga, Connect Realty Ltd can provide local expertise and advice about the current housing market. We also have in place highly effective systems that set us apart from traditional real estate agencies. We offer a results driven solution for the management of your property investment. When we speak with you about your portfolio, we will discuss the now, the near future and the long term picture. As part of this we are able to discuss development plans to ensure you maximise the potential value of your investment portfolio.

Property is often the largest investment many of us will make, so it is worth the time to ensure you have the right team of industry professionals supporting you in reaching your goal, giving independent advise on where best to invest your money.