Demand for new builds in the Wellington region is fierce, with 10 townhouses in a new boutique development snapped up within 48 hours.
The new builds, in Days Bay, were listed on Friday last week and were all under contract by the end of the weekend.
Ray White agent Kristin Davis, who is marketing the development in the beach town, said that the buyers were a mixture of first-home buyers and downsizers.
“The fantastic location and the boutique development were very desirable to buyers, as well as the nice design and layout,” she said.
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“Two of the buyers were first-home buyers, and others wanted to downsize but still live in a nice location.
“I expected them to sell well, despite lockdown, because the developer, Gibbons Co., is well known for delivering a quality product and also the location.”
Davis said that the lockdown had made the sales slightly harder, but as the townhouses were not due for completion until 2022, buyers couldn’t view the homes in person even outside of lockdown.
Covid restrictions haven't curbed buyer appetite outside of Wellington either.
At another coastal location, in Russell, Northland, a Wellington buyer bought a three-bedroom cottage sight unseen for $700,000.
Koa Flats, in Meadowbank, Auckland, is set to be completed by mid-2023. Just one apartment is left for sale in the development. Photo / Supplied
Ray White agent Ross Hawkins, who has sold all nine cottages in the resort-style development, said the buyer would rent it out as visitor accommodation and live there when travelling to Russell.
“We are getting a lot of enquiries for coastal and lifestyle properties during this lockdown,” Hawkins told OneRoof.
Demand for new builds has seen several developments sell out quite quickly in recent months.
Last month, Tommy's Real Estate principal Nicki Cruickshank told OneRoof that the agency had sold more than 50 townhouses off-the-plan in the Four Kapiti development in Paraparaumu.
Fast forward a month and OneRoof records show the remaining townhouses in the development have been sold.
And in Auckland, just one apartment in a new build development was left for sale after buyers picked up the rest in just two weeks.
The developer of Koa Flats, Ockham founder Mark Todd, told OneRoof this month: “There’s very, very strong demand for relatively affordable housing options in high value locations.”
