New housing snapped up as demand in Wellington region surges

Monday, 20 June 2016

Jamie Gillies, left, and Phil Savage at the former CIT site, where 27 houses will be built late this year. All have been sold.

Demand for new housing in Upper Hutt is at 'unprecedented levels', developer Malcolm Gillies says.

More than 70 houses on former Government land at Heretaunga and Wallaceville have been sold conditionally, off the plans and ahead of their legal formation and land titles being issued.

City council resource consent for 27 sections at the former CIT was granted last last month to Gillies and partner developer Kevin Melville's Heretaunga Company Ltd.

'And now they've all been sold. The demand is unprecedented, to be honest. Really we could have sold them three or four times over.'

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The properties weren't listed on the open market so they were sold by people approaching the developers, Gillies said.

The ten and 17-lot Heretaunga Mews development borders a now reduced complex being marketed as The New Zealand Campus of Innovation and Sport.

The sections range from 400 square metres to nearly 1100sqm and are priced from $430,000 upwards.

They will be built by Stuart Adams Quality NZ Homes and Golden Homes.

Golden Homes general manager Phil Savage said he expected building to start by the end of the year.

'These have all been sold to residential buyers from the Wellington region,' Professionals real estate branch manager Jamie Gillies said.

Most of a 48-lot first stage of the Wallaceville Estate has also been sold off the plans to individual buyers through four building companies .

'Within this stage is a comprehensive development of smaller sites which will be built by Golden Homes,' Jamie Gillies said.

Along with Amberley Gardens at Silverstream and the 48-lot Fairview Estate at Akatarawa, the Professionals had about 180 new houses either sold or on the market, Gillies said.

'Upper Hutt is on the verge of a building boom. With record low interest rates and residential housing stock [at] exceptionally low levels it all adds up to a bit of a perfect storm,' he said.

The early sales were a great sign for the city, mayor Wayne Guppy said.

'That's shows there good confidence from buyers who understand there is real value for money housing here. And it will only add to the [Wallaceville Estate] next stages.'