Property prices around Lake Hayes are reaching record highs. Photo / Getty
Property prices around Lake Hayes are reaching record highs. Photo / Getty
Record sales prices appear to have been reached in the adjacent Queenstown neighbourhoods of Lake Hayes Estate and Shotover Country.
A brand-new build at 2 Alpine Avenue sold at auction in August for $2.65 million, which Premium Real Estate agent Hamish Walker — who listed the property with colleague MarcHamilton — believes surpassed the previous Lake Hayes Estate record by ‘’at least a few hundred thousand dollars’'.
It was also $1 million over capital valuation.
Then, last month, 50 Risinghurst Terrace in Shotover Country sold by tender to a local buyer for $1.85m — ‘’I believe the next-highest sale is $1.65m,’' says Walker, who was also listing agent for this property.
The former home is set on an elevated section with great mountain views and has three bedrooms, each with designer bathrooms, a state-of-the-art chef’s island and an outdoor terrace and spa.
The latter property, down a private drive, is comprised of a four-bedroom, two-bathroom home, plus a two-bedroom, two-bathroom self-contained unit and hair salon.
Walker says for Lake Hayes Estate he had only one North Island phone bidder, who opened the bidding at $2.2m, then settled on the final figure ‘’after 10 minutes of negotiation’'.
12 - 18 months ago, he says, six parties would have been interested in properties like that, while now it’s only one or two - and that requires strong negotiation with buyers on behalf of the vendors.
