What a great few days – lots of sun, some boating, some walking and lots of fishing. The Marlborough Sounds (read lots of coastline and lots of wilderness for the offshore readers) is being developed really fast. I remember 11 years ago when I first went to the cove and sections could be had for NZD50 or 60k. It’s now in the 300-400 mark and appreciating fast. To get a traditional kiwi bach you need to drop close to seven figures.
What’s driven the prices up? More accessibility (lots of boats where there never used to be man) and lots of offshore investment. Many mega baches are 2 week a year (if that) jobs and shut up the rest of the time. Now I’m against the Xenophobic “lock the doors and keep the foreigners out” mentality (you’re lucky Raf, Kaila et al) but I will say that it’s sad that the average Kiwi is being well and truly priced out of the market.
Alongside price rises are the usual regulatory issues – in the past it was an easy deal to drop a simple building on a section and add to it over the years and decades – our current building compliance situation makes that impossible (well illegal anyway) which changes the entire dynamic of the kiwi back).
Oh well that’s progress I guess – we’re lucky to still have access to one of the gems and we’ll continue to use it going into the future.