Man­iototo real es­tate ‘catch up’

Central Otago Mirror - - YOUR PAPER, YOUR PLACE - RHYS CHAM­BER­LAIN

Peo­ple look­ing for the ‘‘holiday town of old’’ and a quiet way of life has led to Cen­tral Otago’s lat­est prop­erty boom.

The Man­iototo is ‘‘just catch­ing up now’’ ac­cord­ing to South­ern Wide Real Es­tate sales con­sul­tant Sarah Smith, and sales fig­ures back that up.

In the past six months from Novem­ber 2, 40 prop­er­ties had been sold in the Man­iototo com­pared with 15 in the same pe­riod the year be­fore and just 22 be­tween Jan­uary 1 and Novem­ber 1 last year.

Smith said holiday-mak­ers and re­tirees were driv­ing sales.

’’Peo­ple are get­ting priced out of other mar­kets.

‘‘They are sell­ing and buy­ing a sim­i­lar type prop­erty here and hav­ing some money in the bank.

‘‘They can still have the Cen­tral Otago cli­mate, the Cen­tral Otago life­style here.’’

Naseby was a par­tic­u­lar hotspot for holiday home sales, where peo­ple liked the idea of still be­ing able to send their 5-year-old to the shop for an ice-cream with­out wor­ry­ing about them, Smith said. That was no longer the case in places like Queen­stown or Wanaka.

‘‘Naseby is like the holiday town of old.

‘‘It’s still got the holiday feel [but] peo­ple are buy­ing af­ford­able holiday homes.’’

Spend­ing ‘‘around the $180,000 mark’’ could get you a three­bed­room home in Ran­furly, Smith said, and most homes were listed at about $200,000 to $250,000.

‘‘It’s af­ford­able hous­ing. This is one of the cheaper places to buy.’’

A lack of em­ploy­ment op­por­tu­ni­ties was keeping fam­i­lies from mov­ing into the area, Smith said.

Aside from farm­ing, the Man­iototo hos­pi­tal was the town’s largest em­ployer.

But new busi­nesses were pop­ping up in Ran­furly, in­clud­ing an In­dian restau­rant and a mo­tor re­pair busi­ness, she said.

Smith had also talked to peo­ple con­sid­er­ing liv­ing in Ran­furly and mak­ing the one hour, 90 kilome­tre com­mute to Alexan­dra to work.

‘‘There def­i­nitely are things hap­pen­ing in the town.’’

In 12 months prior to Fe­bru­ary, nearby Omakau reg­is­tered 24 sales in a town with just 260 per­ma­nent res­i­dents, while Cromwell - about an hour and 15 min­utes from Ran­furly - had reg­is­tered 83 sec­tions sales in the eight months prior to March, Har­courts sta­tis­tics show.

SUP­PLIED

South­ern Wide Real Es­tate sales con­sul­tant Sarah Smith.

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