Hamilton housing development Ridgedale builds up, not out

Hamilton housing development Ridgedale builds up, not out6 Nov 2015

A housing development opposite Rototuna's planned town centre is bringing a new concept into the neighbourhood.

Yeoman Property Group's three-stage development Ridgedale in Hamilton will see 145 medium density homes built over the coming months.

Managing director Andrew Yeoman said communities with smaller sized sections were becoming increasingly more common in countries such as Australia and the United States.

Yeoman Property Group managing director Andrew Yeoman stands at the Ridgedale subdivision during the early stages of development.

The most important thing about developments such as Ridgedale was that it was done right, the developer said.

"A lot of thought needs to go in at the early planning stages and then, of course, the good quality needs to be followed through in the construction and completion stages."

Yeoman Property Group are developing the subdivision as well as constructing the homes.

Stage two the development was due to be released in the coming weeks and comprised of 45 lots, ranging in size from 180 to 400 square metres. The average section would be around 300sqm.

"With sections that small what we've done is we've gone two storey. Two storey you can still get a really decent house in there, you can do four beds, two living, two garages in some cases."

Building up had allowed for an outside area for entertaining, he said.

"Yeah you can't play backyard cricket but you can entertain, you can have the barbecue, you can have a summer time barbecue and friends over a glass of wine or a cold beer."

Medium density communities catered to a growing appetite for low-maintenance homes and had attracted interest from not only first and second home buyers but those wishing to downsize, he said.

Hamilton City Council community group business manager Helen Paki said they were currently in the design stage for the Rototuna town centre. The plan was expected to be completed by early next year.

"What we're finding is a lot of our clients are wanting smaller yards. They don't want to maintain huge tracks of land, they want to have their weekends to themselves, they don't want to have to mow lawns or do lots of gardening or do any of that sort of thing so that's one less maintenance."

It was a more affordable option in one of Hamilton's more expensive suburbs, and had attracted families that could not afford the $650,000 to $850,000 price tag that came with some properties zoned for schooling in Rototuna.

"Most of our pricing is around $500,000 mark so substantially cheaper and in fact we've got a few houses under $500,000 as well."

By subdividing the land and building the houses themselves, Yeoman said the property group had been able to keep house prices a bit lower than many other properties in the suburb.

When selling plans, Yeoman said around 80 per cent were traditionally bought by investors with the remaining 20 per cent purchased by home buyers. But over the past six months, that figure had flipped.

"We still do have quite a lot of investors coming on but we've actually got more owner-occupiers coming and buying off the plans from us, which is fantastic."

To date, none of the sections had been bought by offshore buyers.

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