Chances are your home has made a profit in the past five years. But where in the city were the biggest gains made at resale during the last quarter of 2019? Property reporter Zoe Hunter
Rotorua home gains $918,000 at resale
![Zoe Hunter](https://s3.amazonaws.com/arc-authors/nzme/088e0187-6d27-467c-870a-f8b6b3b20ce9.png)
188 Kawaha Point Rd, Kawaha Point. Photo / Stephen Parker
Rotorua residents who sold their home between October 1 and December 31, 2019, reaped a median profit of $210,000 per property and a gross profit of $40,652,198.
A home on Gwendoline St in Glenholme that sold for $774,000 above its sale price in 1981 made the second-biggest gain, followed by a Haumoana St home in Koutu that made $630,000.
A Lynmore Ave home in Lynmore made $617,000 and a Lynwood Place home in Owhata made $522,350.
The median for Rotorua properties sold at a loss was $0, with a gross loss of just $55,000.
![CoreLogic senior research analyst Kelvin Davidson. Photo / File](https://www.nzherald.co.nz/resizer/v2/XJLWFJANEN2XYBELVSL2NOYMXI.jpg?auth=49a8c0791fa0d4734c37803fdcabe451cea1177c9dc7bebc4445f0825030fb19&width=16&height=11&quality=70&smart=true)
CoreLogic senior research analyst Kelvin Davidson said solid gains in property values delivered large profits for people who held on to their properties for a decent period of time.
"Of course, as always, any 'profit' often just has to be put back into the next property (which will have also gone up in value), but downsizers or landlords as examples could potentially be freeing up cash."
Meanwhile, the latest OneRoof property Report showed median values in Victoria ($425,000), Lynmore ($720,000), Owhata ($465,000), Koutu ($345,000) and Ngongotaha ($450,000) all jumped between 11 and 13 per cent in the last year.
Heath Young, chief executive of Bayleys and Eves Realty, said it was no surprise that gains were produced in property markets where steady price growth occurred in the past five years.
![Heath Young, chief executive of Bayleys and Eves Realty. Photo / File](https://www.nzherald.co.nz/resizer/v2/OB3ZOBI4X63TSXAPOXLSE3Q7RU.jpg?auth=208c9cda1ba7615649c96e831d76fb6f81756e82af6ba1286eda224e024ffca2&width=16&height=11&quality=70&smart=true)
"Price growth [is] simply caused by the demand for property outstripping new housing supply," he said.
Young said demand coming from regional migration into the area, job and population growth along with investors from outside the region were also contributors to big gains.
Professionals McDowell Real Estate co-owner Steve Lovegrove said a few people were waiting to get into the real estate market and were delaying their decision to jump on the property ladder due to changes in property prices.
![Professionals McDowell Real Estate co-owner Steve Lovegrove. Photo / File](https://www.nzherald.co.nz/resizer/v2/E2HR63TREF5EEUMIN5GIOOPTTA.jpg?auth=a364db35c49c55246fc2bd36754a5e7161a8c6f1f40738856b9faaa1e57bfc5d&width=16&height=21&quality=70&smart=true)
But Lovegrove said the earlier someone owned their own home, the more financial advantage they would gain over a longer period.
"It [capital gain] should be celebrated," he said.
Lovegrove said the demand for property remained high.
"We still have more people than we have property," he said.
"Every house that goes up for sale, there is a number of people wanting to buy it ... It is like we have got three hungry people in a sandwich shop but only one sandwich."
![Tremains Rotorua sales manager Megan Davies. Photo / File](https://www.nzherald.co.nz/resizer/v2/2ZRR34N6JOGBUKDWN4MTIADPRA.jpg?auth=b6c17ce92dc9ce82ea07b82711e77b40abe432125659f2aeb78418e79b495513&width=16&height=20&quality=70&smart=true)
Tremains Rotorua sales manager Megan Davies said a 1920s three-bedroom Californian bungalow on Te Ngae Rd, Tikitere, sold under the hammer for $1.1m last week. Davies said the vendor had bought the home in 2012 and had since done extensive refurbishment on the property.
![A 1920s three-bedroom Californian bungalow on Te Ngae Rd, Tikitere, sold under the hammer for $1.1m. Photo / Supplied](https://www.nzherald.co.nz/resizer/v2/RGRCB3JPSRI77R544M3TPEPGDM.jpg?auth=dc4bfc3c803d72b8ac76dc1ad38c53d7e5e2f6292234147439a71af79473562e&width=16&height=11&quality=70&smart=true)
"They have invested what needed to be invested, which was in the structural integrity of the property."
![Fisher Funds chief investment officer Frank Jasper. Photo / File](https://www.nzherald.co.nz/resizer/v2/MLHSS5KXXFLROZVYCEQEINW3FM.jpg?auth=3fcc390043a0255d5edc724199ce78121e0bd0a0ed963f67e5add43a3b3c4846&width=16&height=25&quality=70&smart=true)
Fisher Funds chief investment officer Frank Jasper said there was often a perspective from people that they should put any saved capital into the bank and live off the proceeds.
But Jasper said people should have a longer-term perspective on how to invest their money after retirement.
"We need to be thoughtful about the fact we might have 20 or 30 years in retirement," he said.
"Investors still need their money to work hard. That means investments in growth asset like shares are still important."
![Rotoruas_top_five_gains](https://www.nzherald.co.nz/resizer/v2/D3NMCAIY6JMMTYLBCUUVH3QY3U.jpg?auth=33296bc33d035c2097cd752a0cb1240197bdb250b18340b29970d7c3b6d9de58&width=16&height=11&quality=70&smart=true)
Top five biggest gains
![188 Kawaha Point Rd, Kawaha Point. Photo / Stephen Parker](https://www.nzherald.co.nz/resizer/v2/3EJ4CPHAJVPZ6FP73STPFPIMKQ.jpg?auth=729e5b8c6e4139f74f4dd5476c519af251f125425c00c8c7ad4b02c88c96e94f&width=16&height=10&quality=70&smart=true)
188 Kawaha Point Rd, Kawaha Point
![12 Gwendoline St, Glenholme. Photo / Stephen Parker](https://www.nzherald.co.nz/resizer/v2/EBJU4YKWMCVZIWMUS5GDTQ23BI.jpg?auth=6df1bb934b8e4f8810a7f46f6e77f6dbfd51de424d29bbe2bc127021261a7710&width=16&height=9&quality=70&smart=true)
12 Gwendoline St, Glenholme
![29 Haumoana St, Koutu. Photo / Stephen Parker](https://www.nzherald.co.nz/resizer/v2/FLJTXDXRXI5HAC6AXELIVFTUUY.jpg?auth=68873cb26e3eac3a291838f23a3b7d990857a4e80aef7ee76d9e36b5df8333d0&width=16&height=12&quality=70&smart=true)
29 Haumoana St, Koutu
![5 Lynmore Ave, Lynmore. Photo / Stephen Parker](https://www.nzherald.co.nz/resizer/v2/T5JGPCH4YJET6PE7NVGAND5SXQ.jpg?auth=ececd81f6dc9430699380c044edefca413fa1f6e05b5bd2c17cba287e5254f84&width=16&height=11&quality=70&smart=true)
5 Lynmore Ave, Lynmore
![11 Lynwood Place, Owhata. Photo / Stephen Parker](https://www.nzherald.co.nz/resizer/v2/XZD6DX4JYKAOHXMNGDIC4DSM7I.jpg?auth=7733f843d772a75edc4dd1ce912c760889a3ba1c35d311a53bd40f19ce198f74&width=16&height=10&quality=70&smart=true)
11 Lynwood Place, Owhata