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Australians property investors descend on Tokoroa

The small Waikato town of Tokoroa is a big hit with the Aussies, who are snapping up cheap houses as investment properties.

Monday, April 26th 2004

Tokoroa real estate agents say inquiries from Australia suddenly took off about a year ago, although no one is sure why or how many have sold.

Liz Padman, a member of an economic development trust partially paid for by the South Waikato District Council, believed property investment seminars were behind the Aussie invasion.

"Someone over there is pushing investment and apparently suggesting Tokoroa and Taumarunui."

One Melbourne woman turned up on her doorstep six to eight weeks ago after initially being prepared to buy a house over the phone. She ended up buying two during her visit.

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