Property boom hits Whakatane

Ian Lysaght, of Lysaght Developments, advertised the new sections over the weekend, and in five days had sold 20 of the 27 plots on offer, plus a further three from earlier subdivisions.

Mr Lysaght said most of the buyers were genuine homebuilders rather than speculators and probably fewer than half of them would have been local. They came from Rotorua, Hamilton, Tauranga, Auckland, Te Puke and Opotiki, he said.

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