By Sieska VerdonkVideo will play in Play now Don't auto playNever auto playProperty valuation company Quotable Value says Whanganui is now New Zealand's most affordable city, and local real estate agents are rejoicing. "We are running out of stock, we are running out of houses to sell. Now that's because there are people moving around Whanganui, and there are people moving to Whanganui because they have heard about how good it is," said Ray White Licensee Agent Tim Hocquard. The average residential property price is just $204,916, up 8.3% in the last 12 months. "Our company manages just over 500 rental properties, and we only have two currently vacant," said agent Tim Hocquard.

Source: New Zealand Herald January 14, 2017 18:53 UTC