Million-dollar property sales double and triple in Bay of Plenty seaside towns
9 Feb, 2021 05:00 PM
6 minutes to read
Houses near holiday hotspot Waihi Beach, north of Tauranga. Photo / Getty Images
Sales of $1 million-plus properties in small Bay of Plenty seaside towns have doubled and even tripled in some areas as city-dwellers seek the coastal lifestyle and work-life balance. Real estate agents say the beachside boom is being fuelled by big city residents seeking holiday homes. But in one seaside spot baches that have been in families for years are becoming scarce as they are snapped up for permanent homes.
The number of $1 million-plus properties sold in Waihi Beach has more than tripled in a year, climbing to 43 sales in 2020 from 13 sales in 2019, according to the Real Estate Institute of New Zealand.