Affordable homes snapped up

Gerry Oudhoff.
Gerry Oudhoff.
They were gone in 48 hours.

In another symptom of Queenstown's shortage of affordable homes and rental accommodation, 32 cottages on a site within walking distance of the CBD have been snapped up only days after being released to the market.

More than 300 people turned up for Sunday's open day at the Bowen Cottages development near Gorge Rd, an arterial route between the resort and Arthurs Point.

Harcourts Queenstown partner Marie Osborne said all the cottages were under offer, and buyers were completing due diligence before sales became unconditional.

''We knew from the outset this was going to be a hugely busy day just from the registered interest, which was 60% oversubscribed.

''The level of demand shows just how much something like this is needed in the market.''

The stand-alone one, two and three-bedroom cottages were priced between $275,000 and $445,000.

The majority of the offers came from first-home buyers, with many accompanied by letters telling the developers how much they needed to buy somewhere, she said.

Developer and Invercargill holiday park owner Gerry Oudhoff bought the Bowen St site with his wife and a business partner for $2.45 million earlier this year.

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