Jumping on the runaway real estate bandwagon

The housing boom has stirred our national fascination with property prices into an obsession.

Kiwi mums and dads are snapping up rental properties. City-slicker investors armed with advice from property seminars are heading out of town to such unlikely hotspots as Wellsford in search of bargains. An Auckland single mother is jumping on a plane to the deep south next week looking to snap up her third investment property this year.

Hugh Robson, a registered valuer with Quotable Value in Auckland, says it is as if a certain mood has pervaded the market.

"It's a condition that seems to happen when the market takes off," said Mr Robson. "People start looking at investment properties and start thinking about subdividing and having alterations done. The market is certainly fizzing at the moment."

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