13 Feb 2024

Average price of homes in Bay of Plenty town sky rocketing

From Checkpoint, 5:26 pm on 13 February 2024

A small Bay of Plenty town has stood out in recent real estate statistics, with house prices there skyrocketing.

The latest QV House Price Index says the average home in the Bay of Plenty town of Kawareau has quadrupled in ten years.

However, it still sits as the lowest-priced district in the country, reaching about 450-thousand dollars in 2023.

A former mayor says early investors are away laughing but a local says the growth is piling pressures on to rent prices and local businesses.

Jordan Dunn has the story.