Photo courtesy of Pixabay
Figures from homes.co.nz show the estimated median house price in Ōtaki has risen nearly $100,000 in the past year.
Just in the past month, the median price is up $20,000 to now be $540,000. In January last year, the median house price was $445,000.
The figures confirm Ōtaki as a property “hot spot” for people returning from overseas, and those seeking “more affordable” housing outside the cities.
For regional comparison, the median estimate for homes in Paraparaumu is $736,00 and in Levin $472,000.
Ōtaki’s prices are nearing those in Palmerston North, where the median is $557,000. Wellington is closing on the $1 million mark at $937,000.
House price rises have surged from 8.5 percent in the three months to the end of December, to 10.9 percent in the three months to January.
Prices have gone up 14.9 percent in the previous six months, and 22.3 percent over 12 months.