Last-chance lifestyle auction
find a property to house their family, or grow a crop to make an income, so that is our typical buyer profile.”
Figures from the Real Estate Institute of New Zealand showed the median sales price of lifestyle properties in Tauranga district jumped from $561,013 in 2014 to $990,000 in 2017.
Anderson said there was huge demand from people who were attracted to the rural lifestyle and were seeking small blocks in the country with close amenities like schools, supermarkets and sports fields.
“Tauranga has benefited from that desire over the last number of years . . . and I see that continuing as a positive trend. They want that touch of country we have almost lost for a generation.”
Land Information Overseas Investment New Zealand group manager Vanessa Horne said, in general, people who did not have residence class visas and did not live in New Zealand would not be able to buy these properties without consent from the Overseas Investment Office.
People with temporary visas also would not be able to buy a home to live in, but there were some exceptions.
Horne said to get consent to buy a home to live in, overseas people would need to hold a residence class visa, commit to live in New Zealand for at least 183 days in the next 12 months, and be or become a New Zealand tax resident.
On December 15 last year, the Government also tightened up the rules on foreigners buying more than 5ha of land.
The PGG Wrightson Real Estate lifestyle auction is at its Tauranga office on October 20 at 10am.