Affordable housing in Petone and Island Bay sells before it even hits the market
April 6th, 2018
Fifty-one of the 56 houses in the Petone subdivision have already sold before marketing even started.
Dozens of houses in a new Lower Hutt subdivision and a Wellington suburb have been sold before the marketing campaign was even launched.
In a little over a week, 51 of the 56 available two and three-bedroom townhouses at a Jackson St site in Petone, named Paetutu, had been sold.
Professionals realtor John Ross expected the next five to sell by “Tuesday, Wednesday at the latest”.
The subdivision, developed on former Housing New Zealand (HNZ) land by Wellington company, will have 56 two and three bedroom townhouses. Construction on the houses is due to start late April and finish up in the middle of 2019.
The houses sold around the $550,000 mark.
“I have been saying for years there’s this huge demand [of people] wanting to live in Lower Hutt,” Ross said.
“People come from out of the area and they realise Lower Hutt has a hospital and K?piti Coast doesn’t, Porirua doesn’t. They look at the quality of the schools, they look at the mall, since we’ve got the biggest mall, they look at the golf courses, the sports fields.”
“But people that come from out of town, they say ‘we like Lower Hutt but your housing style is so old’, so they go and buy in Whitby or Churton Park.”
He said Lower Hutt had been out of pace with the rest of the region, so it was good to present something this year that defied that.
Affordable housing was a big reason for the popularity of the subdivision.
The subdivision’s location, next to Shandon Golf Club and close to the cafes and shops of Petone would also prove appealing.
Ross said, given the demand for housing, he would love to see more greenfield development open up around the Hutt Valley.
Real estate agent Shane Brockelbank said demand for the Petone houses meant buyers had been allowed to secure a home before the official launch on April 5.
People on The Professionals’ mailing list learned of the housing early and the rest was word of mouth, Ross said.
The two-storey houses will range from 72 square metres to 78 square metres, with open plan ground floor living and bedrooms on the second floor.
Meanwhile, a development in the southern Wellington suburb of Island Bay also sold off the plans.
Gibbons Developments sold 16 of its 17 townhouses at 20 Trent St before going to market.
The planned homes, which were granted resource consent two weeks ago, were sold for between $501,000 and $819,000.
About 70 per cent of them were snapped up by owner/occupiers and half were first-time homeowners.
Developer Kurt Gibbons believed this was because he had priced the houses at “an affordable level” and the reputation he had gained for other developments in Wellington and Auckland.
The majority of the dwellings sold around the $700,000 mark, he said.
“I focus on a good level of pricing and high specs such as granite bench tops and oak floors and staircases.”
This was his third development in the suburb that had “everything going for it”.
He aimed to build more homes and had a waiting list of buyers but the hardest part was finding land, he said.
Although getting resource consent could be difficult, he praised Wellington Mayor Justin Lester for his work on housing.