House prices are climbing in Methven, as buyers target “affordable” properties in the Canterbury ski town.
The town’s average property value has jumped more than $100,000 in the last 12 months to $693,000, according to the latest OneRoof Valocity house value figures.
Bayleys Methven agent Fee Ensor said Methven is “booming”, with buyers – mainly from Christchurch – on the hunt for holiday homes which they can rent out on Airbnb. But there are also buyers from other parts of New Zealand who are seeking to relocate and live in the town permanently.
The award-winning Mt Hutt Ski Field, which the town serves, has been a firm favourite with skiers and boarders looking beyond Queenstown’s snow resorts, but the town has started to attract summer visitors.
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Since the Opuke Thermal Pools and Spa opened in the area in November last year, occupancy for accommodation in the town had gone up from 30% to 70% and that was before the ski season started.
Ensor said Methven houses prices are relatively low compared to the rest of New Zealand, with the price of older entry-level homes starting at $400,000, while newer homes fetch around $800,000.
An alpine-style three-bedroom home at 60 Spaxton Street is for sale by negotiation and has an RV of $430,000, while a three-bedroom, two-bathroom property at 83 Barkers Road is being sold by deadline and has an RV of $670,000.
Ensor said there are not too many houses to choose from right now, but there are plenty of sections, including a 676sqm section in Camrose Estate for $260,000.
“If you are buying a piece of land up Castle Hill you are paying over $500,000 for that – for a bare land section - and we are still under $300,000. You buy a section in Rolleston – it's just Rolleston – and you are looking at sort of $350,000.”
This three-bedroom home at 83 Barkers Road, in Methven, Ashburton, is on the market by way of deadline sale. Photo / Supplied
A three-bedroom "alpine-style" home for sale at 60 Spaxton Street, in Methven. Photo / Supplied
Other new lifestyle subdivisions include Thyme Stream and Kakariki View.
Being only one-hour's drive from Christchurch International Airport also gave the town a major advantage.
Just this week, she had shown investors around the town this week and said they had been “blown away” by its facilities.
“The potential and opportunity in Methven is huge at the moment. I think it’s just going to keep on growing.”
Ray White Ashburton agent Margaret Feiss said Methven is a “wonderful community” with a lot going for it including an excellent medical centre, fabulous ski field, amazing mountain biking, jet boating and two great primary schools and a high school.
“The hot pools have cemented everything.”
Feiss said the property market has been strong in the town for the last 12 months and continues to be strong especially with the hot pools opening, which are an experience in themselves.
Skiers and snowboarders on the slopes of Mt Hutt. Photo / Getty Images
“It’s sort of a town that’s gone under the radar for many years, but we’ve always been busy."
“There are more people coming to Methven than leaving,” she said.
“There’s a complete mixture of whose buying. So, you can never say one person in particular is buying, but just basically the town is popular.
“You’ve got a mix of locals, investors, retirees – it's just a great town to live.”
Property prices have gone up, but Feiss said the land is still cheap compared to lots of areas including Wanaka and Lincoln.
There are a lot of high-end builds under construction. She recently sold a high-end property at 118 Forest Drive which had an asking price of just under $2m.
With an average property house value of $719,000 in the three-months ending June 2022 and more than 200kms further south, Twizel is slightly more expensive than Methven but is also another holiday destination attracting people in both summer and winter.
The Ohau, Roundhill and Mt Dobson ski fields are within a one-hour dive, but being surrounded by five lakes including Lake Ohau, Lake Benmore and Lake Ruataniwha makes it popular summer spot with water sports enthusiasts.
Hikers cross a footbridge in Twizel. The town is another popular holiday destination in Canterbury. Photo / Getty Images
Those solely looking for a property closer to the ski fields than Twizel often opted for Ohau or Fairlie, but listings are limited with just three properties currently listed at Lake Ohau on OneRoof and 25 in Fairlie.
One Agency agent Coralie Read said Twizel has a “really nice small-town Kiwi feel and” is perfect for anyone who loves the outdoors.
“We are a year-round destination. People come here in winter to salmon fish along the canals or just get that winter experience with the stunning on the Ben Ohau Range.”
While holiday homes have traditionally outweighed owner occupier properties in Twizel, Read said more and more people are relocating permanently and it has a strong aquaculture and agricultural sector.
While those who owned holiday homes in the town usually lived within a three-hour radius and travelled from Rangiora, Christchurch, Ashburton, Timaru, Oamaru and Dunedin, she said.
“It’s still a southern purchase. Our friends up north aren’t purchasing and flying down.”
17 Maryburn Road, in Twizel, Mackenzie, is on the market for $560,000. Photo / Supplied
A three-bedroom home at 8 Rhoboro Road, in Twizel, has a price tag of $949,000. Photo / Supplied
An entry level house starts in the mid-$500,000s and included properties like a three-bedroom house on a 670sqm section at 17 Maryburn Road that is taking offers over $560,000.
A newer three-bedroom, two-bathroom house on an 849sqm section has an asking price of $949,000.
Read said there are some “stunning” sections available including a 5469sqm lifestyle section at 6 Cameron Place is on for $449,000.
“For land it’s at the higher-end of our price point down here, but that’s for over an acre. So, if you relayed it to other sections around New Zealand that’s good value for some people.
“Twizel has all the facilities on offer that you need in a small town. You’ve got the supermarkets, you’ve got lots of restaurants and cafes, and you’ve got the pub. The kids can ride their bikes easily. You’ve got that really nice small town Kiwi feel.”
- Find more properties for sale in Methven here. For properties for sale in Twizel click here.
