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The Wairarapa property market remains strong but there is more talk of stability rather than craziness.
It’s a tough call though, because a two-bedroom 80m2 house in Martinborough sold for $550,000, according to one agent, and a million-dollar sale in Greytown is in the works, according to another.
Real Estate Institute of New Zealand figures for October published on Wednesday showed prices in South Wairarapa had risen 5.9 per cent from a year ago while in Carterton they had risen 31.8 per cent. That was based on 17 sales in Carterton in both October last year and this year.
In Masterton, prices rose 7.7 per cent in October from a year ago. Forty-nine houses sold, down from 54 in October 2017.
“The market is still healthy but we are more inclined to be coming into a stable market rather than a rising market,” said Prue Hamill, the managing director of Harcourts in the region.
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