Demand from first-home buyers in Queenstown sees homes go in one day

An open day for 32 new properties in Queenstown demonstrated the level of demand for affordable homes in the busy resort town.
 
Over three hundred would-be buyers turned up on Sunday (October 18) to a Family Open Day organized by Harcourts Queenstown, bringing Bowen Cottages to the property market.
 
On a site within walking distance of the town’s CBD, and with a guide price of between $275,000 and $445,000 for the standalone one, two and three-bedroom cottages, prospective homeowners were asked to submit offers for their first, second or third choice sites.
 
All 17 Harcourts Queenstown agents were on site on Sunday, as well as developers Gerry Oudhoff and James Hennessy, happy to answer any questions for potential purchasers.
 
Offers on the properties were hugely over-subscribed, and many came with letters from couple or families telling the developers just how much they needed to buy.
 
Within 48 hours, all the properties were under offer, including a number of offers made above the guide price.


Artist’s impression of one of the new Bowen Cottages. Photo courtesy of Southern PR

Harcourts Queenstown partner Marie Osborne said a very diverse group of people came to the Open Day but the majority were after their first property. 
 
“The developers made it very clear that they had a real preference for first time buyers, and were truly delighted they could assist so many first home buyers into the market,” she said.
 
“We knew from the outset this was going to be a hugely busy day just from the registered interest which was 60% over-subscribed.
 
“Our agents all made sure that everyone on their books in the market for homes at this level knew about the open day so they didn’t miss out.
 
“Now they’re all under offer and buyers are completing due diligence before they become unconditional.
 
“The level of demand shows just how much something like this is needed in the market, and Harcourts is very proud to be involved in its community and helping bring an opportunity like this to couples and young families.
 
“The Harcourts team wished that there was a property for everyone.”


Site plan for Bowen Cottages Queenstown – all sites are now under offer. Photo courtesy of Southern PR

Following a winter when Queenstown was in the spotlight for what was described as a “critical” shortage of affordable homes and rental accommodation, Bowen Cottages ticked many boxes for would-be buyers.
 
“Not only was the price right, but the fact that Bowen Cottages are in a prime location within walking distance to the centre of Queenstown proved a huge plus,” said Marie.
 
“It’s been a busy few days for us but very satisfying, knowing that these buyers will be housed in well-insulated, well-designed new homes with the security and peace of mind that comes from owning your own property.”