Springvale's Magnolia Crescent in full bloom as property demand soars

Property at the new Magnolia Crescent subdivision is being snapped up. Photo/Stuart Munro

Sections at the new subdivision at Magnolia Crescent in Springvale are selling before titles and roads are even in place.

Of the 28 properties included in stage one, 27 have been sold.

And people are already putting money down for sections in stage two for which there are currently no titles.

Tony Jones from GJ Gardner Homes, which is selling the properties, said money had been put down on nine of the 13 properties planned for stage two.

Properties had been available for about two or three years but he said the majority had been sold in the past year when there had been a noticeable surge in the property market.

"That's why we've been caught because this just took off like a rocket," he said.

The house and land packages at the subdivision average about $400,000 and the stage one properties had gone to a wide range of people, including locals, out-of-towners and first-home buyers.

"It's the same in established housing," he said. "A lot of people who have bought in this stage one have sold their houses to out-of-towners."

Mr Jones said Whanganui was just part what was a nationwide trend.

"Everyday we're getting inquiries from people leaving Auckland, Tauranga, Wellington looking for a better lifestyle and a few from overseas as well," he said.