Boom in property
The most recent land sales in Queenstown continue to show the boom in property values. In the last fortnight, a 730 square metre section on The Commanage sold by public auction for $lOO,OOO, and a two-bedroom holiday home on Wakatipu Heights sold for $lll,OOO. Within a day of receiving council planning consent for a sub-division in Fernhill, a real estate agency, Perpetual Real Estate, consulted its waiting list of 65 names and sold the entire first stage of 30 lots. This meant that buyers had bought the properties off the scheme plan, and they would not get the titles to their land for at least 10 months, said a real estate agent, Mr lan Faulks.
The last of a three-part series on property in Queenstown appears on page 17.
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Press, 24 January 1985, Page 1
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132Boom in property Press, 24 January 1985, Page 1
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