[Lifestyle] Hot demand for lifestyle properties as buyers follow rural dreams

[rlex]

OPINION: In the remarkable era we are currently progressing through, the rest of the world regards New Zealand as an oasis, largely or relatively secure from the threats prevailing elsewhere.

Over the past 12 months, many people reacted to the pandemic by re-assessing, and activating long-held dreams.

Increasingly, those dreams focus on the rural idyll and are realised in lifestyle property.

Within our small safe nation, the drive for a home that offers peace, tranquillity, a haven from the world, and the scope to explore and realise personal ambitions has never been stronger.

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In the face of uncertainty, many seek comfort, a rural aspect and a bolthole. Demand is strong, aided by low interest rates. As a consequence, demand for lifestyle property is at an all-time high.

Nationwide, in the year to February 2021, 27.5 per cent more lifestyle properties sold than in the year to February 2020.

During the three months to February 2021 the median price for all lifestyle properties sold was $845,000, a $135,000 rise on the same period during 2020, representing a 19 per cent increase in values in 12 months.