Interesting year for Ruapehu property market
What a year it's been, with the first emption of Mt Ruapehu on 23 September 1995, a peaceful summer then a burst of volcanic activity again June and July. This has had an interesting effect on the property market in Ohakune. With little interest in the latter half of 1995, prices stabilised. The first six months of 1996 saw the market extremely active with 43 house saies in Ohakune averaging 45% above 1993 government valuations. Sixteen vacant sites sold at an average of $24,000, 92% above GV. In Raetihi, six saies were recorded at an average price of $47,000 showing a 2% decrease on the 1993 valuation. Overall there were 1 1 8 house saies in the Ruapehu District with a median price of $64,500. Rural saies have stabilised at established levels over the whole district. Prices have averaged out at 32% above 1993 valuations with farms sold for forestry conversion being 40% over 1993 valuations.
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https://paperspast.natlib.govt.nz/newspapers/RUBUL19960924.2.33.6
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Ruapehu Bulletin, Volume 14, Issue 655, 24 September 1996, Page 11
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162Interesting year for Ruapehu property market Ruapehu Bulletin, Volume 14, Issue 655, 24 September 1996, Page 11
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