8 minute read
RED HOT
Hanley’s Farm is projected at 1,750 sections once completed. Red hot
The subdivision preaching affordability in the sizzling Queenstown property market
By Claire Wright
Housing prices are hitting an all-time high up and down the country, according to recent data released by the Real Estate Institute of New Zealand (REINZ). Median prices for residential property across New Zealand increased by 24.3 percent from $665,000 in March 2020 to $826,300 in March 2021 – this is another record high for the country. On top of that, 12 out of 16 regions reached record median prices, as well as 32 districts. Despite Otago being one of the hardest hit regions by the COVID-19 pandemic – with Queenstown taking a hit of 50 percent reduction in income for local economies, according to Tourism Minister Stuart Nash – the housing market is red hot with no look of cooling down. Otago as a whole has seen housing prices increase by 30.8 percent from $535,000 in March 2020 to $700,000 in March 2021. The Queenstown-Lakes District housing market specifically has reached record highs, breaking market trends around New Zealand, with a median house price of $1,185,000. REINZ states that 34.8 percent of houses sold in New Zealand of March this year have been sold for over a million dollars.
CoreLogic senior property economist, Kelvin Davidson said in a February market the physical supply shortage could be the strongest reason the market rebounded so quickly. The rebound in values around Queenstown centred on suburbs like Arthurs Point, Fernhill and Kelvin Heights. That’s why the two major subdivisions, Jack’s Point and Hanley’s Farm, in Queenstown – positioned between Jack’s Point and Frankton – are getting scooped up so quickly.
The soon-to-be-completed school at Hanley’s Farm is called Te Kura Whakatipu o Kawarau.
Adaptability — the crucial ingredient for Jones Contracting
Based in Arrowtown, Jones Contracting Queenstown Ltd covers the whole Wakatipu Basin specialising in house pad dig-outs, driveways, general landscaping work, and so on.
As Queenstown is becoming increasingly builtup and access for large trucks and transporter trailers is getting limited, Jones Contracting has purchased specialised equipment.
Two Posi-Track Skid-Steer loaders with rubber tracks; these all-terrain vehicles are perfect for landscaping, irrigation trenching and lawn preparation. Arriving on the back of a 4x2 tipper truck, there is no access problems and no blocking the road. Also the small truck can cart away fill and rubbish and return with topsoil, sand or gravel. The very versatile Posi-Tracks have several attachments including the lawn-leveller for preparing topsoil and removing stones so you can throw away your rake and save your back. You can also get rid of your shovel and get the Posi-Track with trencher attachment to dig irrigation trenches. In addition, there is a post hole auger, so no need to manually dig holes. Two rubber-wheeled excavators can be driven directly to your site, ready to work. These diggers are excellent for excavating house pads, garage pads, driveways or spreading gravel. Great for moving from site-to-site with no waiting. Staying with the two-of-a-kind theme, Jones Contracting is well-known for its award winning Western Star Trucks. These trucks demand attention with masses of shiny chrome and lights galore. This impressive American-style truck can cart in small or large quantities of topsoil, gravel and sand, and then cart away unwanted fill. With excavators ranging in size from 3.5 to 22 tonne, there is an excavator for any job, from commercial building dig-outs to house pads or landscaping. Topsoil, bark chip and a range of gravels are available either from their yard or delivered to your property. The staff at Jones Contracting are long-term locals with a good grounding in Queenstown’s unique terrain and can easily deal with special requirements.
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According to Stats NZ, Queenstown has a year-round population of 40,000 people.
One of the subdivisions, Hanley’s Farm, is located on a threekilometre stretch of land that sits between Lake Wakatipu, Deer Park Heights and the Remarkables.
During the past three to four years, the developers of Hanley’s Farm, RCL has been marketing the sections towards first and second homebuyers – mainly young couples looking to start a family, or who already have a family of their own. It’s close to the Remarkables Primary School, Kingsview School and other childcare facilities. It’s within easy reach of Remarkables Park and the Five Mile shopping precinct. Bayleys Queenstown real estate agent, Jimmy Allen says RCL has not wavered from trying to provide affordable sections to people starting off in Queenstown. It’s something in the location. It's nice and sunny and warm.
Some of Queenstown’s best views make up Hanley’s Farm’s backyard, such as the breathtaking alpine peaks of The Remarkables mountain range. Kelvin Heights to the north provides a ‘gentle barrier’ between Hanley’s Farm and Frankton.
When the soon-to-be-completed school at Hanley’s Farm, Te Kura Whakatipu o Kawarau, and Jack’s Point Village commercial development are finished, the area would become an almost selfsufficient township.
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There has been a 50 percent reduction in income for Queenstown’s local economies due to COVID-19.
This would mean that the community is looking to put down tight-knit roots, where everyone is looking out for their neighbours.
“The demand is out there, obviously, for a product that's been well designed by RCL. It shows what they're providing is what the market needs and why.” Jimmy says Bayleys Queenstown has sold around 750-800 properties so far for RCL and that 300 of those sales have been since late August. Approximately 400 houses in the Hanley’s Farm subdivision have been either completed or under construction.
This subdivision, providing affordable sections in an almost too-hot-to-touch marketplace, comes at a time when homeownership in New Zealand is at its lowest point in 70 years. Renters United, a renter’s advocacy group fighting for fairer rental control laws, states that over a third of New Zealanders are renting.
Other subdivisions in the area under construction include the proposed 272-section Woolshed Road subdivision, which would be the fourth in the area, the proposed Coneburn special housing area (632 sections) and Jacks Point. Hanley’s Farm is projected at 1,750 sections once completed.
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• Site preparation • Landscaping • Drive ways • Rock walls • Section clearing • Bulk cartage • Drainage Local Owner/Operator covering Queenstown and the Southern Lakes region.
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Approximately 400 houses in the Hanley’s Farm subdivision are either complete or under construction.
Builders on board – Hanley’s Farm subdivision
• Golden Homes • David Reid Homes • GJ Gardner Homes • Signature Homes • Mike Greer Homes • Trident Homes • Jennian Homes • RNP Homes.
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