NEWS that 30 Australian women with money are coming to Rotorua with plans to snap up property bargains is exactly what our flagging real estate market needs.
As reported on page 1 today, the women - members of an investor group called Property Women Australia - are arriving in Rotorua
later this month.
They have the potential to inject millions into real estate, with ongoing positives such as employing local labour to do up properties and property managers to look after them.
These women are not necessarily rich - but they are serious.
They will be driven around in a bus organised by Harcourts and are looking for bargains under $200,000 that have the potential to earn good returns.
The visit is timely. Rotorua, like everywhere else, is struggling in the current property environment where sales have plummeted.
In January, just 48 houses sold in Rotorua - the lowest number in 18 years. There are predictions February's figures, due out any day, will fare better.
The current market is looking increasingly attractive for investors and first-home buyers. Buyers have enormous leverage and interest rates, already low, are tipped to come down even further as the Reserve Bank looks to further drop the official cash rate tomorrow.
These Australian investors have the potential to make a dramatic difference.
It is important that Rotorua rolls out the red carpet and does everything in its power to impress them, and tempt them into spending in our market, rather than somewhere else.
Hopefully between them and local buyers, we can pump some life into the real estate scene here.
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