Hutt housing market booming
Lower Hutt is undergoing a housing boom, with demand outstripping supply.
On Monday, a 11 unit townhouse development was purchased off the plans within 24 hours.
Developer Blair Chappell said he could have sold another 100, such was the demand.
Real Estate Institute New Zealand figures show Lower Hutt was one fastest rising house prices in the country in the past year. In August, the median house price hit a record $670,000, rising 22.5 per cent over 12 months to the end of August. This outstripped the capital, Auckland and other regions with fast rising house prices, such as Southland and Hawke’s Bay.
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