Southern Lakes house prices hit $1.48 million

Southern Lakes house prices hit $1.48 million
Sold: This 729-square-metre Wānaka house on Mt Barker Rd sold for a record in late January. (Image: Colliers)
Brent Melville
Asking prices for homes in the Central Otago and Lakes District hit a new high of $1.48 million last month, on the back of low stock levels and heightened interest from Aucklanders. That's created daylight between the region and its higher-priced peers. Auckland's asking price is now at an average of $1.06m, down 15.7% on last March's $1.25m, while Bay of Plenty asking prices dipped 12.5%, to an average of $890,311 from $1.02m 12 months before. Prices are also tracking up in the Coromandel – another lifestyle fa...

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