New Zealand’s tourist board had forecast around 3.1 million annual arrivals by 2017, but instead welcomed more than 3.5 million people in the 12 months to January, and the number of tourists surpass the number of hotel beds available. High occupancy rates pushed up prices by 9% from 2015 to 2016.

In Auckland  a number of hotels have closed for refurbishment and up to 500 serviced apartment units have been taken up by private investors and first home buyers.

Around 200,000 Britons visit New Zealand annually, but the tourism ministry has identified China and Australia as its key markets over the next few years.

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