Regions hope expo entices buyers south
Aucklanders are being encouraged to invest in Southland, Queenstown and Otago property, but some community leaders say it will benefit the region only if buyers relocate.
Bayleys Realty Group has organised a Beyond Auckland Expo next month to showcase investment and lifestyle opportunities in regions throughout the country.
Bayleys managing director Mike Bayley said the company wanted to support the Government's regional economic growth initiative.
The company would promote regional property to Auckland-based investors and homeowners looking for affordable housing and investment opportunities.
He expected the Auckland-based expo on November 22-24 to showcase about 150 properties.
Bayleys Queenstown sales manager Gail Hudson said residential, commercial and industrial owners selling property were in discussions about the expo.
She expected a "handful" of Queenstown properties to be confirmed, and multiple Invercargill properties.
She believed any residential investment properties would most likely be passive investments run from Auckland.
Invercargill Deputy Mayor Darren Ludlow said the expo made good sense, given the Auckland housing crisis.
But he said Southland had too many absentee landlords. He hoped potential investors would be encouraged to be good landlords.
The expo would give people the chance to see how affordable it was to live in the region and the good lifestyle there.
Venture Southland enterprise and strategic projects group manager Steve Canny said relocation of Aucklanders to the region would be a healthier long-term scenario for the regional economy.
Investment did not add the same value to the community, and the region already had high levels of absentee landlords.
They would speculate rather than produce benefits, and speculation could drive up house prices for first-home buyers, he said.
South Alive co-ordinator Janette Malcolm said the organisation had had issues in the past with absentee landlords not looking after properties.
She believed investments pushed up property prices and did not bring benefits in the form of people or businesses.
She hoped any Aucklanders investing would make sure properties were well-maintained.
- © Fairfax NZ News
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