Rotorua has a wide and varied range of residential real estate options from the $1 million dollar plus lake side proprieties to an excellent variety of three bedroom homes in great suburban locations for around $250,000.
The residential real estate market in Rotorua can be classified in four key areas, lakeside living, suburban living, rural living, and lifestyle living with a small, but growing, number of inner city living opportunities.
Rotorua's residential property market has always shown steady growth, but has not been subject to the great fluctuations experienced in other parts of New Zealand. Properties represent very competitive buying with the median house price in Rotorua between $270,000 - $280,000 for a three bedroom home on a 800 -900 square metre section.
There is also the opportunity to purchase reasonably new homes in desirable subdivision areas for around the $390,000 - $480,000 price bracket.
Lakeside properties are available at Lakes Okareka, Tarawera, Rotoiti and Rotorua for around the $800,000 - $1,5 million range. An emerging market in Rotorua is desirable lifestyle properties within 10 -15 mins of the heart of the Rotorua City, generally with stunning lake views on 2 – 5 hectare blocks. These properties range from around the $400,000 dollar mark.
Rotorua also has a number of recent residential subdivision developments, that will let you create your own dream home in paradise, or take up the offer of one of the many design and build options. These sections vary in price depending on location, size and views.
Rotorua has a strong residential rental market offering great value and a wide range of options. You can get yourself and your family into a reasonably modern three bedroom home from around $250 – $350.00 per week, or move up to a luxury split level modern four bedroom home for around $450.00 per week.