As its name suggests, Fairy Springs, located on the northern fringe of Rotorua, is home to some of the loveliest scenery in the district, with Rainbow Springs Wildlife and Nature Park, which incorporates the original Fairy Springs Park too, making up a large part of the neighbourhood.
Started in 1932 and now filled with native trees, shrubs and bushes, Rainbow Springs is home to a number of New Zealand natives including trout, reptiles and birds and -of course, the flightless kiwi, our most powerful national symbol. Since 2004, the attraction has been owned by Ngai Tahu and has daily bird shows, plus regular tuatara feeding and kiwi encounters.
Parts of Fairy Springs are still semi-rural, yet the suburb is just 8km from the CBD and enjoys easy access to good cafes, bars and restaurants. The new Fairy Springs shopping hub, located on land that was formerly a landmark garden centre, offers a range of amenities including fast food outlets, a bakery, grocery store, medical centre and pharmacy.
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When it comes to property values, Fairy Springs is doing well. They were up by 2.8% to $338,850 in the first quarter of 2018, according to latest QV statistics. Year-on-year values rose by 18%, confirming the suburb as a very good performer.
Steve Lovegrove, principal at Professionals McDowell Real Estate, is an ex-Aucklander who moved to Rotorua two years ago and really loves his new home. He says that Fairy Springs’ growing popularity comes as no surprise.
“Essentially, I see it as the gateway to the city for those coming down from the north and as well as the springs and the park, it’s perfectly placed for other activities, such as the gondola and mountain-biking, which is just huge for locals and tourists.”
He says that the earliest housing stock in Fairy Springs dates from the 1950s and the dwellings are solid and well-built.
“And if you’re living somewhere like Fairy Springs, with easy access to main roads and highways, it’s perfectly possible to commute to Tauranga for work. A lot of people are doing that now.”
Lovegrove has recently noticed some other interesting dynamics in the Fairy Springs market, apart from the increase in values.
“As investors sell off their properties, more first-time buyers are getting a look in. But this has an effect on the rental market and because we have a housing shortage, that’s potentially a problem.”
He says another emerging trend is the arrival of the holiday home investor, who sees sense in buying right near some of the town’s most famous attractions then renting the property out on short terms through on-line booking sites.
“Above all though, Fairy Springs is a great suburb for families, with good schools and easy access to lots of activities. The demand for housing looks set to stay high so prices won’t be falling anytime soon,” he says.