Construction of the first homes in a new residential development near Auckland underway.
Construction of the first homes at a new idyllic lakeside residential development is underway – and already many of the best lakefront spots have been snapped up.
Located on the banks of Lake Waikare near the township of Te Kauwhata, the development - known as Lakeside - will give most of the homes views of the lake’s restful waters.
Start your property search
Suzie Wigglesworth, general manager projects for Bayleys, says the homes will fill a much-needed gap when it comes to affordability: “Starting prices for two-bedroom homes (69sqm) will be $499,000 and larger three-bedroom properties (87sqm) will start at $545,000 or you can buy land from $235,000.”
Lakeside - which is being undertaken by property developers Winton - will be located within what is known as the “golden triangle”, an area between Auckland, Hamilton and Tauranga that Wigglesworth says is predicted to be the next boom area for population growth in New Zealand.
Identified by the government as a key future commercial area and transport node, it’s predicted the region will see an increase of about 533,000 people by 2033, with an extra 211,000 new dwellings needed.
Just 45 minutes from central Auckland by car, all the houses in Lakeside will be free-standing with open plan living flowing to attractive outdoor entertainment areas. They will be made from high-quality materials, feature attractive contemporary kitchens and bathrooms, and large, double-glazed windows.
There are also sections available for people who want to build their own homes at Lakeside.
Homes will be nestled along tree-lined streets that reinforce the natural beauty of the area, and the development will also feature outdoor adventure options aplenty. Over 5km of waking and cycling tracks are planned around the lake, with 80ha of parkland set to be developed.
Wigglesworth says that the demand for rental accommodation will increase as more people gain work in the area, and it’s likely the homes’ value will head upwards as well.
“Lakeside is an excellent opportunity for forward-thinking investors looking for long-term capital gains,” says Wigglesworth.
When it comes to owner/occupiers, Lakeside is likely to appeal to “empty nesters” who are looking for a place to retire, and first home buyers who may have spent years renting and are now looking for affordable housing options.
The first stage of the development will be completed in March next year. A retail hub, complete with local café, will be developed alongside the residential buildings. There will also be a childcare centre and medical centre.
She says the developers, Winton, have experience with other residential projects having recently completed a number in other beautiful locations around New Zealand, such as NorthLake near Lake Wanaka in the South Island.
Well positioned for travel both north to Auckland and south to Hamilton, Lakeside is likely to become a popular spot for commuters,as well as those who will move to the area as commercial development increases.
“There is an amazing growth opportunity here for investors, as it is so well positioned for the future. But the great lakeside lifestyle offered will also appeal to people who want to live in a beautiful setting in affordable homes,” says Wigglesworth.
Te Kauwhata has recently been allocated $38 million by the Housing Infrastructure Fund. This money will fast-track improvements to roads and waterways in the district and, says Wigglesworth, is a direct result of the Lakeside development.
