University of Auckland researchers found holiday homes are increasingly seen as financial assets over family retreats, with modest baches being replaced by more luxurious houses that have a higher resale value and can be used for Airbnb.

The Waiheke bach used to be seen warmly as an idyllic family retreat, but as property prices and the costs of living creep ever higher, cold financial logic is seeping in. Quaintly ramshackle, small and isolated baches are being replaced by larger, more luxurious holiday homes with resale value and potential income from Airbnb becoming bigger and bigger considerations. • Paul Mitchell

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