Firstly, my apologies if I am posting this on the wrong forum here. I'm a newbie.
I'd like to read your opinions and observations about rural/lifestlye property values in New Zealand. I'm particularly interested in what's happening to the value of 2-20 hectare properties that are little more than chunks of scrub, bush and grass, still designated as "rural" and with no sewage, electricity or piped water supplies.
It seems that most of the discussions on this forum are centred on urban properties, and most people seem to feel that values will at least plateau over the next couple of years or possibly decline. How do you think this will affect rural property prices? I know the dairying boom has pushed land farm prices up and that this has had a knock-on effect with smaller rural properties, but do you think the lifesyle property market may be in decline?
I'm guessing that kiwis who own second properties in the countryside might be more inclined to sell these days due to both mortgage repayment pressures with their first homes, increassing job insecurity and the rising cost of petrol that will make driving out to their bach much less appealing. Also, the global economic downturn and the skyrocketing costs of airline tickets will have a pretty big impact on tourism, so that might also see rural properties losing value.
The big factor that might see NZ rural property values remain stable or even rise is the growing international interest in owning a rural hide-away in remote New Zealand. Have you seen or read much about this?
This is all just semi-informed speculation here from someone who is totally new to this forum and would really like to hear what you all have to say.
I'd like to read your opinions and observations about rural/lifestlye property values in New Zealand. I'm particularly interested in what's happening to the value of 2-20 hectare properties that are little more than chunks of scrub, bush and grass, still designated as "rural" and with no sewage, electricity or piped water supplies.
It seems that most of the discussions on this forum are centred on urban properties, and most people seem to feel that values will at least plateau over the next couple of years or possibly decline. How do you think this will affect rural property prices? I know the dairying boom has pushed land farm prices up and that this has had a knock-on effect with smaller rural properties, but do you think the lifesyle property market may be in decline?
I'm guessing that kiwis who own second properties in the countryside might be more inclined to sell these days due to both mortgage repayment pressures with their first homes, increassing job insecurity and the rising cost of petrol that will make driving out to their bach much less appealing. Also, the global economic downturn and the skyrocketing costs of airline tickets will have a pretty big impact on tourism, so that might also see rural properties losing value.
The big factor that might see NZ rural property values remain stable or even rise is the growing international interest in owning a rural hide-away in remote New Zealand. Have you seen or read much about this?
This is all just semi-informed speculation here from someone who is totally new to this forum and would really like to hear what you all have to say.
Comment