Ruapehu remained a popular property investment location in 2007/08, by developers drawn by its low-cost location. Ruapehu boasts the best priced property within the shortest distance to world-class outdoor recreation, leading to a 30% growth rate in new resource consent applications and a doubling in new houses built between 2004 and 2006.

Taumarunui Property Sales for 2007

• Across the King Country, only 13 sheep and beef property sales were recorded for the year, sale numbers declining, the median rising to $2,500,000, for an average size of 560 ha. This equates to a per hectare rate of $4,446. It should be noted that the lower the sale numbers, the less credible these statistics become.
• Dairy property sales totalled 34, with a median of $1,875,000 for an average size of 80.1 ha. This represents $23,408 per hectare.
• Lifestyle markets varied, with the average price for the year decreasing by 16% to $314,882 and the average size of 5.53 ha. Recorded sales were 17, a decline of 10%.
• Residential sales decreased by 12% to 145. The average sale price increased to $135,000.
• The national median house price increased by $5,000 to $350,000.

Links

• Presentation by Chief Executive to Building Sector Trades and Development - June 2007