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$60 million spending spree

More than $60 million worth of luxury Queenstown apartments had been snapped up by mostly New Zealanders in the past two weeks, Southern Lakes Real Estate managing director Warren White said yesterday.

Wednesday, July 7th 2004, 6:20AM

by The Landlord

Last Saturday Lake Edge 551 was launched – a planned 94-apartment complex by Auckland-based development company Perron Group.

"More than $20 million of the apartments had been signed up during the week and on the day," Mr White said.

During the past two weeks a second planned luxury apartment complex – due to be launched on Saturday – had clocked up more than $40 million in sales.

The $90 million top-of-the-range 68-apartment complex, the Rees, planned for below Frankton Rd, was on the Queenstown waterfront like Lake Edge 551.


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BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
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Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
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Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.65 4.80 -
HSBC Premier 5.24 3.54 3.20 3.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
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Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
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TSB Bank 6.09 4.19 4.35 4.69
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.50 3.95 4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
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Median 5.34 3.96 4.09 4.39

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