In a fast-moving property market, avoiding the auction house and buying land off the plan might just be the smartest way to make the most of record low interest rates and stake a claim in the Queenstown Lakes real estate market.
Property prices are running hot in this highly sought-after region. Strong demand right across Queenstown and Central Otago is seeing "Sold" stickers plastered across For Sale signs on a daily basis, with agents working overtime fielding enquiries and negotiating deals.
It's a level of competition that can be off-putting for some or even demoralising for those who have missed out in a bidding war.
But there's another option on the table that's sure to pique the interest of astute buyers looking for a deal – buying a section off the plan is not new, but it's gaining in popularity, putting control back in the hands of the buyer.
Universal Developments is a highly respected developer of premium subdivisions across the Queenstown Lakes area, with its latest offering in Longview in Lake Hawea, a 15-minute drive from Wanaka. Currently planned for a limited release of only 55 bare sections in 2021, Longview is about to hit the market.
Lake Hawea is well-known as an adventurer's paradise. Straddling both the Queenstown Lakes and Central Otago regions, it has a proud history and exciting future.
Harcourts real estate agent Eamon Young says Longview will add extra vibrancy to a stunning location: "With a starting point of $239,000, these sections are ideally suited to first-home buyers, retirees and people wanting to have a special place to enjoy their holidays."
"The lake itself is something to behold - lying in a glacial valley, it's simply stunning. Universal Developments knew they were on to something special, with the land just three minutes from the water's edge."
Securing a section early in a development process allows buyers to take their time to plan the perfect home for their lifestyle. There are no renovations or hidden surprises to worry about – buyers turn the key, walk into a brand new home and start making their own memories from day one, Young says.
Buying land early on in a new subdivision can also present opportunities for good capital gains as the area establishes and becomes more popular.
With some of the most affordable sections and packages in the Central Otago and Queenstown Lakes districts, Young predicts it won't take long for the land to be snapped up.
"We're already seeing strong interest but, as it's first-come first-served, those quick off the mark will be best positioned to choose their spot and get cracking to build the home of their dreams."
He says selling sections in Lake Hawea is made easier by the wide range of recreational opportunities close by: "When you think about the boating, mountain biking, kayaking and walking activities right on the doorstep, it's easy for people to see themselves and their family taking part in that. When n you cast your eye around to take in the mountain views, building a house with a nice deck for those summer barbecues is mighty appealing."
There's no denying that this part of the country is extremely desirable and Lake Hawea is arguably one of the fastest-growing areas in the district - destined to become a major part of Queenstown Lakes' growth over the next five years.
With film studios, production offices and a film and technology school planned nearby, savvy buyers will also have Treble Cone and Cardrona ski fields within an hour's drive.
How Longview fits into the Lake Hawea mix is something developers have thought carefully about.
"It's really important for a new subdivision to not only provide a variety of housing options for people, but also to fit in with the local area and add something to it," Young says. "Longview is all about community. Plans include reserves and a commercial precinct that features the things people want to see in their neighbourhood - from the coffee shop and gym to the childcare centre and kids playground."
Land for housing is becoming scarce in these parts and sells for a premium. With demand for property showing no signs of slowing and with interest rates so low, buyers need to strike while the iron is hot, Young says .
Buying a section off the plans might just be the right solution at the right time for prospective buyers. Taking the Longview has never looked so good.