Property prices in Turangi have experienced the largest increases in New Zealand, according to the latest OneRoof property report.
The average property price in Turangi rose by 41% over the past 12 months, and in the past two years have risen by whopping 73%. In the last quarter alone, OneRoof reported that Turangi property enjoyed a six percent increase, with the median value in Turangi now at $260,000.
Read more: Real estate agent hones in on Turangi
“Without doubt, Turangi has seen a significant lift in house prices and demand in the past couple of years,” said Wai Johnson, franchise owner of Century 21 Premier in Turangi. “Nonetheless, it remains one of New Zealand’s most affordable areas. It’s also the North Island’s most central place to enjoy an unbeatable summer and winter lifestyle.”
“The outlook remains strong for Turangi, helped by investment and attractions like Mt. Ruapehu’s Sky Waka Gondola,” said Ryan Mitchell, national manager of Century 21 New Zealand “Set to open soon, the gondola will be another significant year-round visitor drawcard and employer in the area.”