Section sales booming on west side of Christchurch

April 12, 2011

Immediate Release

Section sales booming on west side of Christchurch

Section sales on the west side of Christchurch are booming, with 36 sections having been sold at the Delamain (Yaldhurst) and Preston Downs (West Melton) developments in the six weeks since the earthquake.

Hamish Wheelans, of Gillman Wheelans Ltd, who are developing both subdivisions, said that the number of sales recorded since the earthquake was the equivalent of half an average year's trading.

"These sales are significantly related to the earthquake. The fact that both of these developments were totally clear of liquefaction in both earthquakes has much appeal," he said.

The sections range in price from $140,000 to $240,000 while two spec homes undertaken by us, priced in the $400,000 range, have been quickly snapped up.

"The people we have talked to just want to get on with life. They are keen to get started on their new home and don't want to have to compete with the market later in the year when the rebuild programme gets under way in earnest.

"While these new purchasers are from all parts of the city, a significant number are from the badly damaged suburbs of, Bexley and Parklands.

"Their requirements are just about as varied. Some are just looking for the land, others want a land and build package and there are others looking for a more comprehensive package, which includes some financing. Again, these purchasers are just looking to get on with life and not waiting for their insurance claims and the like to be finalised," he said.

Delamain Delamain, situated on Buchanans Road, is named after Frederick William Delamain, who emigrated from England in 1852 to New Zealand. He purchased land (of which this is a part) in 1867 and built a very fine homestead, which he named "Yaldhurst" after his uncle's home Yauldhurst in Exeter, England. Delamain offers sections that range in size from 388 sq m to 960 sq metres and are priced between $139,000 and $179,000.

Preston Downs Situated on land formerly owned by trotting great Jack Litten, Preston Downs offers sections in their first stage that range in size from 650sq m to 3,300 sq metres and are priced between $163,000 and $260,000. The development is bounded by Weedons Ross Road and Halkett Road. One of the attractions of the development is the range in section sizes, not previously available in West Melton from medium density (600 sq m to 3000 sq m) up to the large 5000 sq m sections in subsequent stages.

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