The median selling price for residential property in Tauranga has hit a record level - but real estate experts have told homeowners to be wary of the continuing rise.
Thursday, November 24th 2005, 5:49PM
by The Landlord
Gil Beadle, marketing manager for Eves and Bayleys, said price rises in today's market would be misleading.
"You might be seeing more sales in the $350,000 range or just above, but overall the market is softer - even in the upper end," he said.
"It's just a shift in balance. There is a reasonable selection of property to choose from but generally buyers are being very cautious before making a decision.
The Tauranga median selling price in October hit $351,500 - an 8 per cent increase in the previous month, and more than $18,000 above the previous best month of July this year at $333,000.
