It might be a holiday playground for the rich and famous, but Omaha is not immune from the property slump.
Real estate agents have noticed a downturn in demand for property at the coastal settlement north of Auckland, where home owners include Prime Minister John Key, fashion designer Trelise Cooper, Team New Zealand skipper Dean Barker and actor and presenter Louise Wallace.
Linda de Vine has been selling real estate in Omaha for 15 years and says this is her quietest summer so far. She has no mortgagee sales on her book but estimates some of her 30 vendors are not selling through choice.
Terrence Banks, of Ray White's Warkworth branch, has been selling property for five years and also notes a drop in prices. One property listed for $875,000 sold for $690,000 and a waterfront property listed at $1.6 million went for $1.2m.
The market could be revitalised at a sale of 15 coastal sections being auctioned on January 25.By Anna Rushworth