The recently released data showed property values in Otematata — which has a resident population of about 200 people — rose 8.7% to $586,000, a quarterly increase of $47,000, to put it among the top 10 hot spots.
Oamaru and Kakanui were also in the top 10, average prices rising 5.2% to $466,000 and 5.1% to $674,000 respectively.
The quarterly changes were highlighted in figures published by real estate agency OneRoof, which tracked the latest quarterly changes at 932 local areas, labelled “suburbs”, across the country.
Parts of Rotorua, Southland, Whakatāne and Whangārei also recorded increases.
At a regional level, Southland recorded the highest growth (2.8%), followed by Gisborne (2.3%) and Otago (1.3%).
Dunedin topped the city chart, average prices rising 3.5% to $686,000, followed by Hamilton (1.1% increase to $813,000) and Wellington (0.3% increase to $939,000), while other cities recorded decreases and the New Zealand average flatlined.
Otematata township was built in 1958 as a base for the construction of the Aviemore and Benmore hydro-electricity projects.
The popular town’s small population swells to thousands over the holiday period.
