World Cup to kick-start New Zealand property market

ew Zealand property values could boom next year in the run-up to the 2011 Rugby World Cup, according to a report in the New Zealand Herald.

The newspaper reports that two villas in Eden Park, Auckland, are among a number or New Zealand homes being marketed as potential prime accommodation set to benefit from an influx of avid rugby fans flocking to the 2011 World Cup.

New Zealand estate agent Anne Duncan Real Estate is marketing the two houses opposite the park as having “grandstand positions, and using the World Cup as a carrot”, says the newspaper report.

One of the two nine-bedroom houses on Walters Road, Auckland, sold for $750,000 (£335,000) last week, while a similar property on the same street is expected to sell for around the same price.

Anne Duncan Real Estate report that they have been receiving inquiries from people contemplating the idea of turning homes in New Zealand into boarding houses and renting them out during the duration of the World Cup.