One house Mr Potter had his eye on, in Roebuck Rise, Broad Bay, was valued at $440,000, over his mortgage limit. Mr Potter was using the Government’s first-home buyers grant which is capped at houses valued at $425,000 in Dunedin. He began investing in property in Dunedin in the 1980s, buying student flats in North Dunedin. Mr Dow started off with two two-bedroom flats, but a wall went up in both to make them three bedrooms. In 1993, Mr Dow and his wife, Christine, sold his North Dunedin properties and moved to Wanaka.

Source: Otago Daily Times August 13, 2021 16:32 UTC