PHOTO: Cutlers real estate agent Bob Griffiths and a recent sale in the city. Dunedin real estate agents are reporting many homes selling with an additional ‘‘premium payment’’. Photo: Gregor Richardson

Dunedin’s residential property market is running so hot premiums of $100,000 above house price expectations have been paid to secure properties, according to city real estate agents.

Dunedin median prices were up 15% in October and the latest Quotable Value data has them up almost 12% in November compared with  a year ago.

While large premiums are the exception, Metro Realty, Harcourts, Cutlers and Nidd Realty have all confirmed instances of premiums  of up to $100,000 being paid.



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