Big demand for Greerton’s 20 townhouses
Prices for “affordable’ 70sq m homes likely to start at $690,000
Greerton is set to get 20 new townhouses with prices starting at $690,000 to help struggling buyers on to the property ladder. The Stables designer complex is planned for a 2400sq m site opposite the Tauranga racecourse and golf club on Cameron Rd.
Tremains director of projects and marketing Richard Graham said there had been “huge” interest in the development.
“In a few days, we have had massive inquiries.”
Graham said it was a “real mix” of interested buyers, including mostly locals and some from as far away as Auckland and Wellington.
The two-bedroom townhouses were ideal for first-home buyers and professionals, teachers, hospital workers and students in the area or property investors, he said.
“The price point also helps. We’re inviting inquiries over $690,000. I think it is a price point that will suit a lot of people.”
Figures from the Real Estate Institute of New Zealand showed the latest median house price for twobedroom homes in Greerton was $530,000 — up from $488,000 a year ago.
Greerton’s median house price for all homes in the year to March was $610,000 compared to $800,000 for Tauranga City.
The smaller 70sq m townhouses feature open plan ground floor living with courtyards and allocated parking, with two double bedrooms and a bathroom upstairs.
With the housing demand and shortage of stock, Graham said it was good to have affordable options for those struggling to get into the market.
“We’re really excited about this project.”
Developer and TYBI director Shannon Moyle said he bought the 2400sq m site earlier this year in a bid to make a more affordable pricepoint for buyers in the area.
Moyle said he was working within the council’s new plans for higherdensity housing to be able to achieve that.
He put the demand down to the region’s housing shortage and buying off the plans becoming more popular.
Greerton Village Community Association manager Sally Benning said more housing was needed in the area.
“Opposite the racecourse, not on it will be a big plus,” she said.
“I would think it will be a plus as more locals should equate to more local shopping.”
Meanwhile, all 23 luxury townhouses making up a new residential development at Mount Maunganui have sold off the plans.
Bask, a residential development on the corner of Maranui St and