Tararua towns, such as Dannevirke, are becoming more attractive to house hunters looking to escape higher, rapidly growing, house prices. House prices are hitting new heights throughout Tararua, as the district's relatively low prices and the ongoing anticipation of a new state highway drive up demand. The Real Estate Institute of New Zealand has found the median house price hit a record $300,000 in May a 9 per cent increase from May 2019. Many first-home-buyers in southern Tararua were from Palmerston North and Manwatū, looking to escape the higher and faster-rising prices on the other side of the Tararua Range. Property Brokers Dannevirke branch manager Dave Frith​ said the majority of out-of-town buyers in northern Tararua were from big cities and who could easily buy a Tararua house mortgage-free after selling a property in Auckland or Wellington.

Source: Stuff June 24, 2020 02:35 UTC