Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sales Indicate Property Market Strengthening

Media release for immediate use 17 November 2009


Ngāi Tahu Property’s residential subdivision at Waikakariki, on Horseshoe Lake Road in Shirley, is bucking national property trends having sold 20 of the 22 lots available.

Mike Davison, Ngāi Tahu Property Assistant Development Manager, says sales have picked up dramatically in the last three months.

“There is a shortage of developed sections in the market, particularly in the Eastern suburbs and close to town,” he says. “Waikakariki is under ten minutes drive from town and is close to many popular sporting, leisure, shopping and entertainment facilities.

“The fact that we have sold 20 out of 22 lots suggests there is growing confidence in the property market and we expect this to continue. The project at Waikakariki is a good test case for our larger residential projects in Lincoln and Wigram, so prospects look promising for these.”

Waikākāriki refers to the lush green waters of Horseshoe Lake, originally home to the Ngāi Tahu settlement of Te Oranga. The new sub-division will feature a fully native planting scheme including Kowhai, Marbleleaf, and Cabbage Trees.

A prestigious stone and steel wall entrance incorporating original Ngāi Tahu artworks will further enhance its aesthetic appeal.

Mike Davison says a wide range of people have taken advantage of this unique opportunity to build the house they want in such a stunning location.

“It is often the case with larger sub-divisions that builders buy the sections and sell them as house and land packages,” he says. “In this case it is couples and families who are taking advantage of this opportunity.

“This development has provided buyers with an excellent opportunity to have their home built to their own specifications. Its close proximity to Bottle Lake and Horseshoe Lake Reserveʼs excellent walkways and picnic areas is particularly appealing to families and retired couples.”

Construction is well underway at Waikakariki and should be finished by mid- December.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Primary Sector Council Report: Vision To Unite The Primary Sector Launched

Agriculture Minister Damien O’Connor has welcomed the release of a bold new vision for the country’s vital food and fibre sector. More>>


Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>


Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>


Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>