Mount Maunganui has become the country's fifth most expensive residential area after its house prices soared as high as 50 per cent in the past year.
Friday, April 2nd 2004, 12:42AM
by The Landlord
Latest Quotable Value (QV) market statistics show the Mount is in the top five dearest areas, behind Auckland, Wellington and Queenstown.
According to QV sales figures for the three months ending December, Mount Maunganui had an average house price of $331,000 _ and property prices have climbed even higher since December.
Auckland City had the highest priced residential property with sales averaging $491,000.
Queenstown was next with an average of $466,000 in that period, followed by North Shore City $429,000 and Wellington City $359,000.
Nelson City with sales averaging $287,000 and its neighbour Tasman with $313,000. Tauranga sales averaged $270,000.
Residential property prices at the Mount were 50 per cent higher than in Christchurch City on $225,000 and double those in Dunedin with $150,000.
