Shy and retiring or boom town?
Monday 5 January 2004
The people of Mahia value the peace and beauty of the area. Now, it seems, everyone wants a piece. Bernard Carpinter reports.
By The LandlordRight now, the population of Mahia in northern Hawke's Bay is about 10 times the normal level.
The permanent population of the remote Mahia Beach township is about 800, but sun, surf and scenery bring in holidaymakers in their thousands.
More and more of those visitors are looking at buying houses or sections – but some will get a fright when they see the way prices are rising around Mahia Peninsula, between Wairoa and Gisborne.
Local people point out sections in the sleepy-looking township that are changing hands for $100,000 and one man tells of buying a house and then watching its value rise by $5000 a week in a few months.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.