Bidders battle for humble bach

The housing market may be in the doldrums but it seems the Kiwi dream of owning a place on the beach is as strong as ever.

A humble two-bedroom bach in Le Bons Bay, on Canterbury's Banks Peninsula, has just sold for $550,000 - more than double where bidding began.

The auction drew 58 bids when many property auctions are struggling to attract any at all.

Marketing agent Tracey Nixon, of Bayleys Canterbury, said properties like this - "just over the road from the beach" - rarely came on to the market. But despite this, the level of interest in a climate where property sales have plunged had been "phenomenal".

"The feedback was that the bach needed a lot of work done to it ... It goes to show that people still love the idea of having their own simple bach on the beach. It's something people still highly value - it's the Kiwi dream."