Boom time for sales at subdivision

Last updated 09:24 11/12/2013
Faringdon
John Kirk-Anderson

NEW HOMES: Construction underway at the Faringdon subdivision.

Relevant offers

Your Property

New owner starts work on 380-home Cashmere Estates subdivision in Christchurch House investors hit record in Auckland, first home buyers fall: CoreLogic Builder loses building licence for unconsented work and overstepping his boundaries Christchurch rents buck national trend with 6 per cent fall Christchurch housing market flat but central city and inner suburbs popular Fourth most-viewed by Chinese buyers: Oamaru's property market booming as foreigners discover it Christchurch house values slip slightly Student couple tow tiny house from Nelson to Christchurch My favourite space: Anna Begg's Wanaka living room Landlords cheer Foxton court ruling on tenant damage

Almost a section a day is selling at the Faringdon subdivision in Rolleston.

The large subdivision was launched 16 months ago on an 80-hectare site on the east side of the fast-growing town. It will eventually have 1050 sections and about 4000 residents.

The developers are Hughes Developments, who were behind the Northwood subdivision on the northern outskirts of Christchurch. Marketing director Bruce Harvey said they were "clearly ahead" of their forecast of taking 10 to 15 years to sell all sections.

To date, 420 sites for a total of $70 million, at a rate of 26 a month have sold. With the 122-lot stage three nearly finished, sections for stage nine are now for sale.

"All stages have sold out prior to the completion," Harvey says.

"We're producing one new title every day, which is helping drive the pace of the development.

Title delivery is frequently earlier than forecast, unlike many other projects."

Other recent subdivisions at Rolleston include: Stonebrook, Millgate, Mayfair, Park Lane Estates, Levi Park, Allingham Mews, Flyndon Grove, and Newman Park.

Ad Feedback

- The Press

Comments

Special offers

Featured Promotions

Sponsored Content