A small part of Otago known for its giant fruit sculpture is cashing in on Queenstown and Wanaka’s success, and is now firmly on the radar of North Islanders seeking a better and more affordable lifestyle.
Cromwell real estate agents are fielding enquiries almost daily from people in Auckland, Waikato, Wellington and Hawke’s Bay wanting to move south.
They are not the first Aucklanders to escape the rat race for Central Otago. Celebrity chefs Nadia Lim and Annabel Langbein both made moves to the district to live off the land.
But as Queenstown and Wanaka house prices continue to skyrocket, Cromwell is becoming a much more affordable and attractive option for people. The average property value in Cromwell is $943,000, according to OneRoof-Valocity data.
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Harcourts Cromwell salesperson Steve Cairns says there’s been a lot of growth in the town because people like the lifestyle it offers.
“It’s close to Queenstown, it’s close to Wanaka. From Cromwell to Queenstown Airport, you can be there in 45 minutes. It’s a really good location if you want to be amongst everything, but not stuck in it – you can still escape back to a quieter town which a lot of people are liking.”
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A new 300-house subdivision called the Wooing Tree Estate is being developed on the original Wooing Tree Vineyard, and about half the houses have been built so far.
“For a small town like Cromwell, that’s quite a big development to all be happening at once I guess.”
Cairns says the subdivision, which is near the town centre, has created a lot more options for people whether it be for first homes, investments or holiday homes.
Houses in the Wooing Tree Estate subdivision start from about $800,000. This three-bedroom house and land package on Lot 432 has an asking price of $885,000. Photo / Supplied
House and land packages in Wooing Tree Estate start from about $800,000 and a three-bedroom, two-bathroom house and land package at Lot 432 in Wooing Tree Estate has an asking price of $885,000.
First-home buyers can still get an older three-bedroom, one-bathroom home for about $650,000, but there is currently a shortage of this lower-end stock on the market as buyers wait for spring.
However, a modern three-bedroom, one-bathroom townhouse at 3/20 Barry Avenue with a price indication of high $600,000s could, Cairns says, also appeal to first-home buyers.
While those with several million dollar budgets can snap up what Cairns describes as an “ultimate lifestyle home”: a new four-bedroom, two-bathroom home at 77 Stone Drive on 1.67 hectares with an asking price of $2.499 million.
An "ultimate lifestyle" property at 77 Stone Drive has an asking price of $2.499m and is the kind of property that some Aucklanders can buy and still have change leftover. Photo / Supplied
“They (Aucklanders) are realising that they can sell the house that they have and buy something bigger and newer to support the lifestyle they want for probably the same price as their Auckland home if not cheaper.”
Property Brokers Cromwell salesperson Dawn Turnbull has more out-of-town buyers than there is stock available.
Turnbull says a lot of buyers are coming from Auckland and the Waikato. A Waikato buyer just bought a new four-bedroom, two-bathroom home on a 500sqm section in Wooing Tree Estate for $1.5m. It was a quiet listing that had only been on the market for four days.
The sale is significant, she says, because it’s one of the first completed properties in the new subdivision to be sold that’s not a bare section or a house and land package.
While other buyers in Auckland and Christchurch are looking for a second home and are opting for Cromwell because it is cheaper than Queenstown and Wanaka, people in Dunedin also want to have holiday homes in Cromwell near the quieter Lake Dunstan.
Turnbull moved from Yorkshire in the UK to Cromwell four years ago and says it is a lovely, friendly community.
“Cromwell has just become this hub of central where everyone wants to be.”
While there are not many homes available for first-home buyers, Turnbull has a range of other properties on the market including a new four-bedroom, two-bathroom home at 13 Vintage Street in Wooing Tree Estate, a mid-range four-bedroom, two-bathroom family home at 4 Rose Lane, and a lifestyle block at 7 Mallett Lane in Lowburn near Cromwell.
Entire extended families are also making the move to Cromwell with the grandparents and parents all moving down together and looking for multiple properties in the town.
Bayleys Cromwell sales manager Dougal Laidlaw says it’s a trend they’ve noticed happening with several North Island families moving from Auckland, Wellington and even the Hawke’s Bay.
“Mum and dad might come down first and then the rest of the whanau will come down at some stage, but they do have to sell.”
Laidlaw says they want to live somewhere where they feel safe and where the weather is more stable. “The biggest comments we have is, ‘is it dry?’.”
A six-bedroom villa with a cherry orchard and pond at 109 Ripponvale Road offers the complete lifestyle change. Photo / Supplied
“They still want to be able to park outside the chippy shop and have the kids bike to school.”
Wanaka is probably still their first port of call, he says, but if they are a tradesperson or have a budget of between $800,000 and $1.2m to spend on a house then they look at Cromwell.
“Not everybody wants to go to Queenstown now – that’s the party town for the Kiwis.”
Others may want to buy a vineyard or even a cherry orchard such as this one at 109 Ripponvale Road on 6.23ha near the Cromwell racecourse that is for sale.
The impressive growth in the town buoyed by the building and commerce has seen it overtake Alexandra in both population and growth stakes.
“The statistics say the growth in this area is just going to get busier and busier.”
But the huge growth is not without its challenges with reports late last year saying parents have to wait about 18 months to get their children into a childcare centre. However, talks of a small commercial and retail area in the Wooing Tree Estate subdivision, which promises to have a restaurant, new cellar door and a childcare centre, may solve this.
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