Westport house prices continue to rise despite flood damage
Westport’s housing market does not appear to have been affected by major flooding last year, despite about 500 homes being inundated with floodwater and flood protection work yet to begin.
The biggest flooding event in the West Coast town happened in July, when about 500 homes flooded following heavy rain. Another 22 homes flooded in February when another bout of heavy rain damaged roads and about 70 farms.
Infometrics data shows house values on the West Coast for the year to December 2021 were the lowest in the country at $327,527. Buller’s average price was the lowest on the Coast at $304,657 – one third of the national average of $1m.
However, Buller’s house values also experienced the highest growth on the Coast with a 30.8 per cent rise over the same period. According to QV, prices continued to rise in 2022 with a 10 per cent increase in the March quarter.
Read more here.
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