Continuing strong demand for a Mosgiel subdivision has resulted in the value of sales interest doubling to more than $5 million within days, developer Allan Dippie has confirmed.
Potential buyers have been quick to sign up for a second release of sections at the HeathField subdivision in Mosgiel during a "very busy" Easter weekend, Mr Dippie told the Otago Daily Times last night.
The interest came after prospective buyers took out non-binding options on all 21 sections on offer at the stage 1 launch of the HeathField development the weekend before Easter, worth $2.7 million if translated into confirmed sales.
Such was the demand, Mr Dippie decided to release a further 24 sections originally planned as a later stage 2 on to the market immediately, rather than wait until stage 1 construction was completed as planned.
Those 24 sections were available over the Easter break, and resulted in a further 19 potential buyers taking up non-binding options, he said.
That meant 40 of the 45 sections now had potential buyers lined up, while another 21 had taken out second or third options should first-up potential buyers change their minds.
"That's a good indication of the actual numbers of people who are interested in buying sections at the moment."
Potential buyers had until April 22 - the site's official launch day - to confirm their options and it was possible some potential buyers would pull out, while other options remained available, he said.
Interested buyers were predominantly from within Mosgiel, while others came from Dunedin, other parts of Otago and as far away as Christchurch, he said.
"We're seeing people across the board, from young families to retired people, and the interest is primarily local."
Construction of the subdivision's earthworks, roading, kerbing and channelling was expected to begin next month, and work on the first homes by early next year, providing a boost for Dunedin's building industry, he said.
Future stages of the subdivision were planned, "but we won't release those until these are finished", Mr Dippie said.
There was also "strong interest" in the Highland Park subdivision in Mosgiel, developer and Dunedin city councillor Syd Brown said when contacted last night.
Work to prepare the 10ha property owned by Cr Brown and his wife Shona on Hagart Alexander Dr has already begun, and Cr Brown's plans for the site envisaged 212 homes when completed.
Cr Brown declined to discuss details of the interest he had fielded so far, but said the activity was positive.
"It does seem to be that there is a demand at the moment for people to look at building, which is quite positive for Dunedin."
