Gone in 2 hours: Over 40 Queenstown sections

Over 40 sections in the last tract of developable land in Shotover Country has sold.

Just over 40 sections in the last tract of developable land in Shotover Country, excluding that earmarked as a Special Housing Area (SHA), were snapped up within two hours last week.

Developer Sharyn Stalker told the Otago Daily Times, of the 62 sections in the Springfield neighbourhood, 21 were held back at the request of ''one of the partners''.

''Within a couple of hours the [41] that we were allowed to release ... were all under contract.

''We've got more and more and more people wanting sections ... there's a lot of emails we can't even reply to, there are so many.

''We've got some wonderful young people [who are] very excited, lots of tears again, opening bottles of wine.''

Sections in stage 8D ranged in size from 450sqm to 545sqm. The price on the largest section was not available as it was under contract by the time the sections were released, as was the next largest (515sqm).

That was because the purchasers had been identified as ''priority'', having been backups on an earlier stage.

Those people were emailed an hour before the sections were released publicly on Thursday night.

Four sections of 510sqm were priced between $285,000 and $345,000. The cheapest section price shown was $280,000 (450sqm).

Mrs Stalker said she was not yet sure how the development partner would deal with the remaining 21 sections in the stage, but it was possible they could go to auction.

''We just don't know. It's too hard because the market's so fickle.

''Maybe we are selling them [the sections] too cheap, but I'm wanting to satisfy what people can afford.

''That's what I'm aiming for, so that the young ones, the right people, get in there.

''We'll just have to see what happens in nine to 12 months.''

Shotover Country has applied for an SHA within the development. If successful, that would create a further 100 properties.

There were no plans to progress a commercial centre within the development at this stage, she said.

''We just want it to be right, at the right time.

''We don't want anything to go wrong and so we're just being very wary about when it happens.''

At present, about 800 homes were either complete or under construction in the subdivision, the first stage of which was released in late 2012.

Mrs Stalker said it was ''wonderful'' to see the community take shape.

''Kids on bikes everywhere, adults taking little ones around the track at night while mum's getting tea [ready], it's really nice to see the community so happy.

''I just love it.''