29.08.2008 - New Zealand island defies global property downturn
From Propertywire.com: A tiny island off the coast of New Zealand is outperforming the current property market downturn.It is predicted that property, especially waterfront property, will continue to grow in value on Waiheke Island which has just 8,000 inhabitants and is a 35 minute ferry ride from Auckland. According to the latest Waiheke Island report from estate agents Bayleys the market has outperformed New Zealand real estate trends for over 20 years. The report shows that beachfront property on the island has grown by approximately 19% per annum every year since 1982, and while this rate has slowed in recent years, the long term view was for further gains.Bayleys research analyst Sarah Davidson said Waiheke's positive property future as both a permanent residence and holiday home resort was underpinned by an excellent ferry transport system which compared favourably against road routes for similar holiday destinations in the Coromandel and Rodney districts..... Full Article: Source
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