northland property

[neopole]

with the second "1 in 100" year storm in northland this year, will this affect property prices?
i have noticed that lifestyle blocks in the kerikeri area are extremely expensive.
will the weather slow the prices down?
or is it still speculator city?

[bear]

I believe any price reductions will be targeted and impact greatly on those areas. Kaeo has been hit the hardest and values already somewhat depressed won't rise any time soon. It will be building act requirements (flood level requirements) which have the highest impact.

As for Kerikeri apart from the stone store area and parts of Waipapa surface flooding was all that happened and i can't see it affecting long term prices. I agree though that lifestyle lots are very expensive (as well as housing in general).

The biggest price controller at the moment is the surplus of lots available which has pegged back prices a little and put the squeeze on those with higher holding costs.

bear

ps i think people will be wanting this to be a bit more than 1 in 100 year flood (even though its the second one this year.