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Investors buy into new community at The Lakes

Work is now in full swing on Tauranga’s major new residential development, The Lakes, and Auckland property investors have snapped up eight of the first ten homes.

Monday, July 16th 2007, 1:02PM

by The Landlord

The properties are part of The Landing subdivision, which covers 250 hectares on the city’s southwest flank.

The Landing’s first eight houses are being constructed by Universal Homes for The Lakes developer, Grasshopper Properties. Universal will design and build more than 100 houses at The Landing over the next three years.

Most of the first 10 homes will be available for their occupants by December. Universal Homes’ sales and marketing manager Mike Pearce says Auckland property investors purchased the eight homes with sales contracts on them at present. They were reached through Universal’s marketing database created when the company was previously selling the Atherton Heights subdivision in Albany.

There are “strict design guidelines in place” for the entire Lakes area, says Pearce, who believes this is what has driven the keen investor demand. The community plans feature residential avenues, recreational reserves, cycleways, walkways and a shopping centre.

Each house at The Landing will be standalone, and there are 12 different floor plans varying from 175 to 221sqm. With the exception of the 175sqm home, all are two-storied, some with the addition of a family room or study. They will be ready for immediate occupation on completion, with fittings and fixtures included in the cost.

 

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Lender Flt 1yr 2yr 3yr
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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