This new 10-townhouse development in Days Bay sold out in less than 48 hours, with buyers paying $ 975,000 for the three two-bedroom units and $ 1.2 million and more for the seven townhouses. of three bedrooms.
The foreclosure does nothing to slow demand for properties in the Wellington area.
Ten townhouses in Days Bay were all under contract within 48 hours of being listed by Ray White Kemeys Brothers last weekend.
Listing agent Kristin Davis said the properties were listed at 4:30 p.m. on Friday, August 20, and all were sold on Sunday afternoon. Buyers bought the plans, with the townhouses due for completion in 2022.
“It was a busy weekend and quite a pain to work remotely on all the contracts,” the agent said. “It was a 74 page contract and there were a few older buyers who were new to digitization.”
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But Davis said that while the foreclosure made this part of the process slightly more difficult, buyers would not have been able to see the completed properties anyway, so in that regard, the foreclosure did not impact the sale.
The three two-bedroom townhouses sold for over $ 975,000, and the seven three-bedroom townhouses cost $ 1.2 million and more.
Davis said buyer interest came primarily from homeowners, and she attributed the huge interest to Days Bay’s desirable location, as well as the appealing design and layout.
“Two of the buyers are first-time home buyers. Two sisters, from Eastbourne, bought a townhouse together. They wanted to climb the property ladder and love the fact that they don’t have to move far.
“Others wanted to downsize but still wanted to live somewhere nice. These townhouses are being built on a site that includes more than three existing properties, which is rare to find in Days Bay.
Davis said the fact that the houses were being built by a well-known developer, Gibbons Co, was another selling point.
“The market is still very strong, with buyers looking for quality stocks. “
The Treasury is forecasting a sharp slowdown in house price growth, but the only people who seem to be thriving right now are those already on the real estate ladder.