PHOTO: PIERS FULLER/STUFF Demand for property in Featherston has skyrocketed in recent years.
What were once seen as big city property prices are putting the squeeze on locals in some small New Zealand towns.
While the average house price in New Zealand has increased by a healthy 44 per cent in the last five years, in some areas the growth has been double that, according to Quotable Value.
Places that were languishing on the bottom tier of the housing ladder like Featherston, in Wairarapa, and Kawerau, in Bay of Plenty, have experienced stratospheric gains and some are feeling the strain.
Featherston’s median property value was up by 108 per cent over the past five years and Kawerau’s experienced a whopping 158 per cent gain.
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