Magnificent Views to Paku Afar
Sections valued at $475,000 to $550,000 in December 2007 are now running out at $290,000 and $365,000 respectively. The developer is putting a further 30% discount factor in place for multi section buys to developers or investors with an eye to capitalising on the four elevated sea view Lots remaining.
Lots 2, 3, 4 and 7 in the Arcadia Heights development face northward to Shoe Island, Paku Mountain, Tairua estuary and the Pinnacle mountain range in the east. Foreground views take in the Waterways, a 9x hole golf course and Pauanui township.
Infill subdivision potentially allows two sections to be created on each existing site lifting the future value for buyers, investors or developers. Lots range in size from 1000sm to 1396sm.
“The market is creating opportunities”
Quotable Value, New Zealand’s largest independent property and valuation service, just reported that property values have increased for the third month in a row in the national residential property indices July 2009. Values are now only 5.0 per cent below the same time last year.
Infometrics the respected NZ economic forecaster, just released a report forecasting that house prices will rise 11% in the coming year and up to 24% over the next 3 years.
In a report prepared for mortgage insurer ABE LMI they further noted that inflation-adjusted house prices were currently 15% above their long-term trend-line but could get toward 30% above the trend by June 2012.
BNZ economist, Tony Alexander in his latest Housing market update says: “as undesirable as it may be from a social equity point of view we Kiwis are going to keep buying houses. Prices will rise over the next three years by some unguessable amount...”.
Further information on “Arcadia Heights” can be found at www.coastalsectionsnz.blogspot.com
ENDS
Photo:
http://www.prlog.org/
