Townhouses for Raglan
One of the larger townhouse developments in Raglan is leading an active building spurt as local real estate professionals report continued demand for new housing and rental properties.
Philip Leather Builders (PBL) bought the 2700sqm section about two years ago on the corner of Stewart St and Wainui Rd, and demolished the 1960s-era twostorey home to make way for
11 townhouses.
Each townhouse comprises three bedrooms, en suite bathrooms and double garaging, and will retail for $1.2-$1.3 million.
PLB is taking expressions of interest from real estate companies around selling these properties, owner Philip Leather said.
Julie Hanna, Ray White licensee and saleswoman for
23 years, has seen many changes in the Raglan market.
‘‘We’re still attracting likeminded people who come to Raglan because they like the Raglan feel,’’ Hanna said. ‘‘It doesn’t matter if people buy a big house or a cottage, they like Raglan.
‘‘We’re lucky we have a price range. Entry level is in the mid500s and early-600s.
‘‘I remember when we had our first million-dollar sale and it was ‘wow’. Now there are lots of million-dollar homes. The house that was worth $395,000 23 years ago is now valued at $2 million and is still attracting the same sort of person.’’
The Raglan Ray White office turns over about 100 houses a year, including many new builds.
‘‘People used to ask if we had new houses; now there are lots of new houses. Lifestyle properties were popping up in pockets, including Waitetuna, and there are 5000sqm sections coming up at Ruapuke. People are happy to commute to Hamilton for work.
‘‘Commercial properties available for sale are rare and what comes up sells quickly. Newbuilds are also in short supply.
‘‘There are new subdivisions, including about 30 sections in the first stage of the Nikau Park project, where houses will be pitched between $700,000 and $1.2m.
‘‘Rentals are scarce. There is still huge demand but not enough supply.
‘‘We need people to buy houses to rent out. Half the town used to be empty over winter. Now, people want to buy to live here themselves,’’ Hanna said.
L J Hooker Raglan licensed salesman Stephen O’Byrne said buyers in Raglan came from across the board but were mostly
Waikato-based. Rural lifestyle and Ma¯ ori leasehold were selling well.
‘‘The market is doing well and residential is achieving good prices,’’ O’Byrne said. ‘‘But there
is limited stock and we have more demand than supply.
‘‘More people are moving to Raglan for lifestyle and fewer are leaving. We have no empty shops and and no roller doors.
‘‘A lot of professional people work online and are getting out of Hamilton and Auckland because they want a work-life balance.’’
O’Byrne said the Nau Mai light-industrial subdivision a few minutes’ drive from Raglan was doing well, attracting young tradies, including roofers, mechanics and enterprises such as award-winning Raglan Coconut Yoghurt and a new maternitywear business, which have leased units.
‘‘Good sections are in demand and lifestyle [blocks] are selling well. A lot of people find they can’t afford the premium price in town but they can get better buy for their buck further out.
‘‘We are the top end of the Waikato market and we’re getting people from all over New Zealand.’’
‘‘I remember when we had our first million-dollar sale and it was ‘Wow’. Now there are lots of million-dollar homes.’’
Julie Hanna
Ray White Real Estate, left