This surburban home will sell for around £220,000 - 232,000 (NZ$550,000 - $580,000).
Spoilt for choice Ö lakeside, suburban, rural and lifestyle living.
Rotoruaís central location and lifestyle are very appealing to those investing in real estate.
People seeking a new home are spoilt for choice. Whether it be urban or rural living that interests you, living by one of the districtís lakes or setting up home near the forest, there is certainly plenty to choose from. In fact, the residential real estate market in Rotorua can be classified in four key areas: lakeside, suburban, rural and lifestyle living.
From the top of the range £400,000 (NZ$1 million) plus lakeside properties to three-bedroom homes in great suburban locations, as well as inner city apartments, thereís something to suit most lifestyles.
If you cannot find an existing home thatís just right for you and your family, then you could always design and build one of your own. Rotorua boasts a strong association of master builders and new sub divisions are proving very popular with a wide range of home owners.
The median price for houses sold in Rotorua in July 2005 was £78,800 (NZ$197,000), compared with £72,000 (NZ$180,000) in June this year and £54,200 (NZ$135,500) 12 months ago (July 2004). A total of 169 properties changed hands during July, up from 137 the previous month.
Source: Real Estate Institute of New Zealand, 17 August 2005.