The Williams Corp sensational sell out of its Marine Pde development in one day has brought national focus in the guise of the New Zealand Herald on New Brighton.
The response was unprecedented for a development anywhere in Aotearoa.
One developer told me it had only been a matter of time and there is no turning back.
He said “this style of housing will become the norm in these sought-after seaside areas, and you only have to look at Bondi post-Olympic year 2000 Games in Australia, that beach-side suburb went off like a rocket and values went through the roof for multi storey development.
While New Brighton is no Sydney beach it has more advantages in respect to being bigger, far more natural and less commercially dominated”.
The upside of the Williams Corp one day sell-out was sales to first home buyers, the downside was the number of investors who snapped up a great rental opportunity.
However, there is a feeling targeting landlords has an upside with bringing more people into the area faster than relying on build and sell. There will be some debate over this though, as one of the markets will be the tourist Airbnb industry.
It won’t change the fact the Marine Pde values are on the rise and fatter wallets will be required to purchase on this waterfront road. This will create a demand behind this into the depths of the coastal area.
See below for excerpts from the NZ Herald story…
