Less than 4% of New Zealanders now own a bach, despite a growing population and an increase in housing stock.
Property data analyst Carmen Vicelich joins The AM Show to discuss the reasons behind the decrease in bach ownership.
According to Ms Vicelich, baby boomers are the most notable group to sell their baches.
“[Baby boomers] are going to live for longer,” says Ms Vicelich. “They are going to need the money.”
[Baby boomers] are cashing up.
Airbnb and globalisation have made travelling easier and more affordable for Kiwis, Ms Vicelich notes. This could be a reason behind the decline in bach ownership.
Watch the full interview with Carmen Vicelich above.
The AM Show with Duncan Garner, Amanda Gillies and Mark Richardson, weekdays 6-9am on RadioLIVE and streaming live to the rova app on Android and iPhone.