With demand remaining high for sections in Rotorua, a 33 section lot ready to be developed into a new subdivision in Pukehangi has gone up for sale.
Already consented to be turned into a subdivision, the property, being sold through Professionals McDowell Real Estate, needs a new developer to finish the work that has been started.
It is the third subdivision to be announced in the last two months, bringing the total number of new sections up to 113.
In April Bayleys announced its 24-section subdivision Baxendale, with all 24 sections selling in less than 90 minutes at auction last month, netting its developers almost $6.2 million.
Also in May an 89-section subdivision was announced for the Sunny Downs Farm off Pukehangi Rd.
This latest subdivision covers nearly 4ha in Pukehangi, near Mt Ngongotaha Scenic reserve.
On Collie Drive, the block has subdivision consent for 33 residential lots, including planning, feasibility and geotechnical investigation, with earthworks able to start as early as September.
Professionals McDowell Real Estate's Marilyn Christian said the sale was a good opportunity for a developer.
"If a new developer can get the ball rolling, earthworks could begin in September and the individual lots could go up for sale by the end of the year, or early next year.
"The sections will be great for families or first home buyers, particularly with schools, shops and public transport already established in the area."
She said the aim was to create a subdivision affordable for families and first-home buyers.
"We're anticipating that these sections will be highly sought after, and of course with the well-documented stock shortage in the city, this, along with the other subdivisions recently announced, will help ease that pressure."
Deputy mayor and Rotorua Lakes Council economic development portfolio leader Dave Donaldson said there was still a lot of pressure on the city's housing market.
"We know there is a demand, at the Baxendale auction all the sections sold and there were many people who went away empty-handed.
"There is a considerable market looking for affordable homes so whether a developer can get an appropriate return while still selling the sections for an affordable amount, we'll have to wait and see."
Mr Donaldson said he didn't think just over 100 new sections would solve Rotorua's housing shortage short term but said it was on the right track.