Rural property boom reflected in NZ

Wednesday 22 September 2004

It looks as if the big money being paid for rural property in Australia is being reflected across the Tasman.

By The Landlord

A so-called fishing and hunting 'ranch' on New Zealand's North Island is on the market for US $40 million.

The 6,000 hectare estate is a holiday destination for Hollywood stars and world leaders, who pay US $900 a night to stay there.

But the owner's representative, Andrew Johnson, says there haven't been any Australian bids yet.

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