The price of an older three-bedroom Hawke's Bay house varies greatly depending on the area, new figures show.
The latest QV New Zealand Herald Property Report shows the average house sale price in Napier rose 2.9 per cent in the three months to April to $325,051, while Hastings rose 0.1 per cent to $300,924.
The cheapest area to buy a house across the region for the quarter ending March was Maraenui with a median house price of $148,000, while the most expensive area was Havelock North at $457,000.
Harcourts Hawke's Bay managing director Kaine Wilson said the median price for Havelock North could buy either a modern brick or plaster three-bedroom home on a smaller section, or a 1950s three-bedroom stucco or weatherboard home in a more established area towards Te Mata Peak which "could lend itself to work".
"The older established areas of Havelock do hold their values significantly." In contrast, the quality of ex-state, three-bedroom weatherboard houses in Maraenui was "totally different", and properties did not have the "superior finish" of Havelock properties.