The article will be available on the BayBuzz website in early December.
Hawke’s Bay’s coastal strategy has become a pressing topic. Storm surges have wreaked spectacular havoc at Clifton beach, coastal Te Awanga and Haumoana. Hohepa www.hohepahawkesbay.com has decided to retreat from low-lying land near Clive for its 60 residents’ safety. The Hohepa relocation to Poraiti will take five years and is budgeted at $10.5 million.
A 15-year coastal property study conducted by valuers and land economists Turley & Co, shows that many Hawke’s Bay coastal locality property values have performed well, but several inland urban locations have performed better.
“The rate of value growth for relatively scarce Hawke’s Bay beachfront property has generally not – as might have been be expected – outperformed more abundant inland competitors.”