Property

Building boom in resort town

Mount Maunganui is starting a new growth spurt and several hundred apartments worth a total of $130 million are being built over the next 12 months.

Sunday, January 02nd 2005

Nine projects are being marketed in the holiday town this summer and two-thirds of the apartments have been sold.

The blocks will add 220 apartments and many ground-floor shops to the downtown Mount area.

They will provide permanent living and visitor accommodation, and range in size from 76sq m to 300sq m.

They are selling for between $400,000 and $3 million.

The apartment-building boom comes after a lull of nearly two years.

Developer Bain McDonald, who is behind three of the nine projects, said people who believed the Mount should never change would not like the new developments.

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SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
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First Credit Union Standard	8.50
Kiwibank	8.50