❝In terms of enquiries, business is down at least 50% for us since this time last year ❞Chris Jenkins After an interesting few years, in which time Tauranga (now officially New Zealand’s fifth largest city) and its environs, basked in the glow of the Auckland property market’s halo effect, the market appears to be heading back to ‘normal’ -but not especially quickly.
The eye-watering sale price increases seen since 2015 have slowed but they’re still there. The median price for the whole of Tauranga this June was $660,000, compared with $639,000 in June 2016.
Mount Maunganui/Papamoa Ward saw a drop-off, from REINZ’s median price of $697,500 in June 2016, to $670,000 in May 2017.
Elsewhere in Tauranga, Otumoetai/ Pyes Pa Ward enjoyed a modest median sale price rise from $670,000…