Sections selling quickly

A Wanaka-based property developer is predicting "a building boom for a long time to come" based on demand for sections in his Luggate and Hawea subdivisions.

Willowridge Developments development manager Allan Dippie said "anything at the entry level is selling very fast, as it is affordable compared to everything else".

Willowridge Developments released 30 sections to the market at the end of February.  Only three remain unsold.

The sections varied in size from 800sqm to 1200sqm and ranged in price from $199,000 to $245,000.

"We’re seeing a lot of population growth in Wanaka, which is fuelling demand at both ends of the market, retirement and young families," he said.

"We limit the sections to one per person and we try to sell them as much as we can to people who meet our affordable housing criteria and who want to live in the area and build a house," he said.

In Hawea, he said, Willowridge Development subdivision sections were not being advertised on the open market.

"We had a big waiting list for the 77 sections in Stage 6, which have all sold, and we’ve already got a growing [list] waiting for Stage 7, which we’ll release later this year," Mr Dippie said.

He said Wanaka was "a bit lucky" compared to Queenstown as it had the ability to deliver affordable housing and had the land in Luggate and Hawea to cater for future population growth. He did not think it was a speculative market.

"They’re very genuine buyers", he said.

kerrie.waterworth@odt.co.nz

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