Mataura — the town of wide streets and big sections — has had the biggest percentage rise in house prices, again right across the country.
CoreLogic NZ released its annual review of the real estate market last week and said it had been a year of two halves.
Declining sale volumes and house prices characterised the first half of the year, before finding a floor and then a slight rise at the end of the year.
Eastern Southland real estate agent Georgia Yeoman said she was not surprised by the size of the increase as it was just Mataura simply catching up with the rest of the country.
‘‘The properties are cheap compared to most of the rest of the country. There is a lot of people looking round and they go quite quickly,’’ she said.
‘‘They are all affordable. We have people coming from different places — it is 10 minutes to Gore, 40-odd minutes to Invercargill, and there are good work opportunities in the town.’’
She had a three-bedroom house for sale in the town with an asking price of $249,000.
‘‘That is a deposit on a house in many other parts of the country.’’
She had sold a house for under $200,000 this year and though it needed some work it was a solid roughcast house.
‘‘The houses are all on big quarter-acre [1012sq m] sections, flat land and are good solid houses. If you want something for a bit more money you would pay up to $400,000.
The highest five-year change in median value was Mataura.
In five years the median price had risen by 138.9%.
Meanwhile, it emerged Hargest in Invercargill is one suburb where properties are selling fairly quickly, registering a median of just 11 days on the market.
Ohakune, however, is at the other end of the spectrum, the average number of days on the market sitting at 115.
Property Brokers Invercargill sales manager Tim Frampton said there was one main reason houses went so quickly in the Hargest area — the nearby James Hargest College.
‘‘It is as simple as that — people want to get into James Hargest College and so want to get into the zone. The college is now the most popular school in the area,’’ he said.
‘‘They are good solid houses.’’
