Half a million hectares - sold

Both Alpha Burn and Glendhu stations are owned by one family, who collectively paid the taxpayer $45,000 for around 6000ha of the Wanaka lakefront, land that today is valued around $45m, a capital gain of 100,000 per cent.

As far as tenure reviews go, it was a good deal. An analysis published last year by Ann Brower found the median capital gain was 69,200 per cent.