We hope this newsletter finds you well.
As you may know, we have been working diligently with the council to secure the necessary consents to move forward with our development plans. We are pleased to announce that we are in the final stages of this process, and we expect to receive the consent imminently.
Once the consents are issued, we will be able to move forward with the next stage of the development. This is an exciting milestone for us, and we are eager to see our plans come to fruition.
Our team has been hard at work preparing for this next phase of the project. We have been finalizing design plans, confirming financing, and lining up contractors and suppliers to ensure that we can move forward as quickly and efficiently as possible.
We are committed to keeping our community updated on the progress of our development project, and we will be sure to share any new information as it becomes available.
The latest REINZ residential property sales data for February 2023 came out this week.
The median dwelling sale price held at $1.4mil for the second month in a row, coming in at $1,417,750 for Feb 2023. The volume of dwellings sold has risen since our holiday month of January, jumping from 25 dwelling sales to 56 dwellings sold in February 2023, which is a more typical volume to expect in the Queenstown market. Last year’s median sales volume of dwellings per month sat at 60.5.
Our busiest suburb for sales activity in February was Arrowtown, which is also experiencing a high number of properties listed for sale currently. Second place for volume of sales was Queenstown Hill, sales ranging from $857,000 for a two-bedroom unit-title home to $3,350,000 for a grand 320m², 4-bedroom home on 1280m² land area.
There was no in between with land sales during Feb 23. Two smaller parcels of land sold in the $500,000s and two luxury land sales achieved sales in the $2mil + price bracket.
After a stunning summer and very warm autumn the first sign of winter with snow on the Remarkables this week.
Thank you for your ongoing support and interest in our development. We look forward to sharing more news with you soon.
Peter and the team here at Silver Creek.