capital gains

PHOTO: CHRISTEL YARDLEY/STUFF In Kawerau district, the median price increased from $115,000 to $265,000.

If you wanted capital gains over the past decade, the best area to have bought in was the Mackenzie District, the Real Estate Institute says.

In 2010 the district had a median price of $200,000. By the end of 2019, it had risen to $490,000 – an increase of 145 per cent.

Second was Kawerau District, where the median price increased from $115,000 to $265,000.

Papakura was third, with an increase of 112.3 per cent from $325,000 in 2010 to $690,000 in 2019.

“Part of Mackenzie District’s attraction is that it provides the same ‘picture-postcard views’ as the Queenstown Lakes District – particularly in the Lake Tekapo area, but it’s more affordable and doesn’t have the hustle and bustle of the constant arrival and departure of tourists,” said institute chief executive Bindi Norwell.