Local property values rise against last year
Timaru residential property values remain high, according to statistics released by Quotable Value New Zealand.
Monday, July 4th 2005, 7:13AM
by The Landlord
The current average sale price for a residential property in Timaru stands at $172,314 a 26.7 per cent increase from May last year, but a 0.2 per cent drop since April.Real Estate Institute of New Zealand South Canterbury president Warwick Jones believed this overall market buoyancy was great news for investors in residential property and said it came down to the quality of life Timaru offered.
"Lots of people like Timaru as a lifestyle choice. It is comparatively affordable compared to bigger centres and is a great place to bring up a young family. It's a best-kept secret, but the word is getting out," Mr Jones said.
Both the Mackenzie and Waimate district figures showed a slight drop since April, but again the statistics were up from the same time last year with Mackenzie recording a 15.4 per cent upsurge and Waimate a considerable 29.8 per cent.
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