The news of the real estate market today seems to have centred around residential sections.
Harcourts CEO Bryan Thomson said “anecdotal feedback from around the real estate group indicated the level of buyer interest in residential sections had risen notably in recent months, in part because of a shortage of houses for sale“.
Well I can comfirm that supporting anecdotal feedback is hard facts – the statistics from the website of realestate.co.nz confirm there has been a lift in interest in residential sections. Counter to seasonal slowing of buyer interest the viewings for these sections has picked up since the beginning of April, over the past 6 weeks well over 6,000 unique visitors have been actively reviewing and researching sections.
The key thing to consider in regard to sections is that almost every one of those unique visitors is reviewing the content of the listings with an serious interest as the content (unlike homes for sale) is not the most inspiring as sections are more about what the land holds for the future, than what it looks like today.
One extreme exception to this rule is this amazing section I came across on the edge of Lake Wakatipu beside Queenstown, for here if you have a cool $6,000,000 you can build what could be the ultimate property in a world class location. It may only be just under 3 hectares (of course that is a staggering $2m per hectare or around $203 per square metre!) but what a location, what a view!!