Story: Inner-city living

A second home

A second home

John Laurent sits in his Auckland apartment in 2007. He had bought it a few years earlier as a second home. His situation was not unusual – many apartment owners live outside the city and stay in their apartment when visiting. A large proportion of inner-city apartments are owned by investors seeking rental income. In the recession of 2008–9 many investors got burnt when real-estate prices plummeted.

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New Zealand Herald
Reference: 061107AKLSWd.JPG
Photograph by Sylvie Whinray

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How to cite this page:

Philip Morrison and Ben Schrader, 'Inner-city living - Inner-city revival', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/photograph/23753/a-second-home (accessed 26 February 2020)

Story by Philip Morrison and Ben Schrader, published 11 Mar 2010