Weekly Property Update
Welcome to this week’s property report.
We had an early auction this week on 110 Noema Terrace, Lake Hawea, with fierce bidding taking place from eight interested parties, which resulted in this property selling for $690,500 under the hammer. If you have property in Lake Hawea and are considering selling please get in touch as there is strong demand right now in this beautiful, quiet neighbourhood.
We viewed two new properties this week on our property caravan:
- 71 Infinity Drive – a large family holiday home with 5 bedrooms and a great mountain outlook in the quiet Peninsula Bay. Priced to sell at $1,175,000. Please let me know if this is of interest. (featured image)
- The second Property will be launching on Monday – a very tidy four bedroom home in Hawea Flat, set on a great flat one acre section. If you’re after some space and a quieter feel, then this could suit nicely.
This week I am focusing on the changes to Medium Density Residential Zone changes in the District Plan.
An overview:
The Medium Density Residential zone has the purpose of providing land for residential development greater than the Lower Density Residential zoning. The key role is to minimise urban sprawl and increase housing supply. The zone will primarily accommodate residential land uses, but also will support non residential activities.
The zone will enable a greater supply of diverse housing options, for example terrace housing, semi detached housing and detached town houses on small sites of 250m2 or greater.
My key outtakes:
- There will be the potential for mixed use of commercial and residential use within this zone.
- If your property will allow for it, there is the potential to subdivide your section down to 250m2 sized in residential area.
If you have property or are looking to secure property in this region and want to speak further on the possibilities to maximise the changes, please feel free to get in touch.
The full link to the Medium Density Suburban Residential Zone can be found here.
All other council resources for additional zones can be found here.
Please note this is just my quick overview of the changes – we would always recommend that you seek specialist advice if you need further clarification. If you do want specialist advice in this area, you can either speak to the local council planner here in Wanaka, or you can engage the services of a local Planning firm such as JEA. I interviewed one of their team, Jo Fyfe, last year. Jo is a great resource that a number of my clients have utilised already. If you want to read my interview with Jo, or obtain her contact details, click here.
The Zoning Map can be found below;
Any questions, as always, please feel free to email or call me.
Have a great weekend,
Mitch
