Fancy having the PM as your neighbour? Now's the time to buy

Bargain hunters have a golden chance to grab a piece of coastal paradise among the celebrities of Omaha.

At least 17 properties are being put on the auction block next Sunday, and up to 90 more are advertised for sale, amid rumours tough economic conditions are prompting wealthy owners to sell off second homes and sections.

Omaha, about an hour's drive northeast of Auckland, is a holiday playground for Prime Minister John Key, fashion designer Trelise Cooper and Dean Barker, among others.

Reaction to the sell-off could indicate whether it has retained its allure as one of New Zealand's most upmarket beach resorts.

Mark Macky, director of Bayleys North Auckland, which opened an office in Omaha two weeks ago, has heard speculation about the resort's future, but said it was not borne out by facts.

He described Omaha as a "wealthy" market, and with the "who's who of Auckland" owning homes there, public interest was always high.

But he said the number of properties on the market represented only 6 per cent of the resort's total.

To read the full NZ Herald story click here

Posted: 19 Jan 2009

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