Keen demand for lake view building sites

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Photo: ODT files
Three Wanaka residential building sites with lake views were sold for more than $1.5 million last weekend, as Willowridge opened up the final stage of its West Meadows development to the market.

There were 27 sections for sale at fixed prices on a first-in-first-served basis. Prices ranged from $1.12 million up to nearly $2 million.

Developer Allan Dippie said lots of people turned up to the on-site sales launch and steady interest continued this week.

All sales were made at listed prices without negotiation, he confirmed.

"People like this system as they know what the price is of every section," he said.

There were two more contracts in the pipeline and more people flying to Wanaka in next few weeks from the North Island to inspect before committing.

Locals were also keen to buy and build, he said.

Prior to the sale, Mr Dippie said it would be a "litmus test" for the market.

This week he said prices were strong.

"This is the top end of the section market and reflects the rarity of uninterrupted lake view sections."

Mr Dippie said people were taking more time over decisions to buy.

There was not the same urgency as in 2021 and 2022.