Campers angry over sale
Sunday 15 February 2004
Holiday campers at Riversdale Beach in Wairarapa are angry that the beachfront property boom has seen their camping ground sold off for redevelopment.
By The LandlordThe site has been bought by a former All Black, Mark Donaldson, and locals think he will build luxury apartments there.
Donaldson will only say that speculation is remote from the truth.
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Housing confidence has been dealt a hefty blow by the Covid-19 crisis with house price expectations plummeting to new lows.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.