by Paul McBeth
Many Kiwis are now seeing coastal land as a first-class investment, while "absolute beachfront" properties in particular are fetching some colossal prices.
The latest bulletin from Bayleys Research lists some recent sales for beachfront properties near Auckland, including:
Bayleys Research says that more and more New Zealanders are realising that their beachfront house is not just a holiday home but that it's fast becoming the family nest egg. It says that the value of prime beachfront sections can now be worth two or three times more than a section one back from the beach.
"In essence, a two-tier market has evolved as a result of limited supply and excess demand for prime beachfront properties.
"While this demand is strong around out-of-Auckland beaches, similar markets have evolved around Wellington and Christchurch."