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Survey gives first picture of Pegasus town

The first purchasers of properties in Pegasus, North Canterbury, are young and active Kiwis who enjoy the outdoor environment, rather than property investors.

Tuesday, June 12th 2007, 3:21PM

by The Landlord

A just released survey of the new community’s residents shows that it is more than likely they’ve got kids, whom they want to see go to a local school.

They come from a cross-section of working backgrounds and most currently own a home in Christchurch.

Many of them plan to start building homes in the town soon, which is currently under development.  

Almost half of the respondents say they are definitely intending to live in Pegasus, with only 17% purchasing a section purely as an investment. The majority of those with firm plans to build a home in Pegasus are intending to do so in 2008-09.


Pegasus is a town for 5,000 people to be built 25 kilometres north of Christchurch. It will be the largest fully zoned, integrated town development of its kind in New Zealand. The town, on 420 hectares of green-fields land bordering Pegasus Bay in North Canterbury, is part of the Waimakariri District.

The survey was conducted by Infinity Investment Group, who along with Multiplex Group is a joint venture developer of the new town. The Waimakariri District Council carried out survey analysis and reporting.

Over half of the initial purchasers of sections at Pegasus took part in the study, which was undertaken to gain an understanding of the characteristics and aspirations of the community. The fast developing North Canterbury town will eventually be home to up to 5000 people.

Survey results show purchasers at Pegasus are typically younger than the current population of the Waimakariri District. Only 2% are resident overseas, with most (61%) currently living in Christchurch and another 13% already in the Waimakariri District.

Infinity Investment Group chief executive Bob Robertson says lifestyle and environment are the highest ranked reasons for choosing to purchase a section at Pegasus.

“Survey respondents have told us they like the ability to live where they play – enjoying the town’s lifestyle and recreational assets without having to travel away from the area.”

“They also appreciate the fact that the town’s retail precincts, entertainment areas and leisure activities are all within walking distance.”

Pegasus has been designed to create a community with recreational features including a lake with filtered swimming bay, restaurants and shopping districts, a beach with dedicated surf club, an 18-hole golf course, yacht club, aquatic centre, and equestrian centre.

Parents responding to the survey also liked the family-friendly aspects of the community, with over half with primary school–aged children intending to send them to local schools.

The only major concern of respondents was the commute to Christchurch. However, over 40% said they would use public transport if it was available and a further 30% would consider doing so.




« Property investors refocus on cash flowProperty owners could be forced to sell »

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AIA 4.55 ▼2.29 ▼2.59 ▼2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.79 2.99 2.80

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