Pegasus Town

[Arthur]

Please share Serpie. Looks to me like the residents will have all the space of a lifestyle block without the hassles. What will be the critical mass kickstart? The school is only a few pupils away from applying to treasury to move to Pegasus, that could be a bit of a boost, but maybe not enough. If I was the developer I'd be subsidising some families to move their kids to the area.

The Rolleston comparison seems a bit harsh - walking to the prison is not everyones cup of tea. Having a lake, beach, golfcourse, wetland etc within walking distance should appeal more. If I was a retired Cantabrian I'd think about the attractions (perhaps an old folks home is whats really needed). There are enough attractions there to be entertained and attract the kids and grandkids for a visit. If the heated pools and playground get built, even more so.

I'd be tempted to buy a section for around $40k....

[fungus pudding]

I'd be tempted to buy a section for around $40k....

What's the current asking price?

[winner69]

What's the current asking price?

trademe have heaps $170k - $200k. One on there for $400k

The finished houses for sale don't look that inspiring

[Arthur]

Lowest asking price around $150 K, they sold a few for less than that in the last silent auction. They still have a few in the golf course area around 700k asking...I don't think that there have been too many private sales as buyers are holding out for close to what they paid.

[fungus pudding]

trademe have heaps $170k - $200k. One on there for $400k

The finished houses for sale don't look that inspiring

No. Just had a look at some. Probably as good as you'll see at the prices asked though.

[Serpie]

Please share Serpie

Watch for a change of tack out there Arthur. This is nothing like Rolleston.

[minimoke]

Watch for a change of tack out there Arthur. This is nothing like Rolleston.

Sure the design concept is nothing like Rolleston but the time to build may be. I'll be out that way in the next week or so and will check it out again but how is the ground water at the moment. North Canterbury seems to have more rain this year than many previous. I guess the sand base will help local drainage though.

I wonder what they will do to change tack to bring in the builders. The house / land packages appealed to some Pom's but a few of them have re-sold already. The Home / Jobs scheme for South Africans doesn't look like its been much of a success. In the meantime the modest $500k sections seem to be being onsold for a whole lot less than this - so someone is taking a bath.

The tourist destination idea seem to have merit - but hasn't that already been tried with Waipara Village - and I don't think a sod has been turned out there. So they just need a $12m corporate investor. An investor would need to weigh the hot pool attraction against the Hamner Spring hot pools and the potential pools at Porters (?). And as a destination could it compete with, say, Akaroa. And they need to make sure they keep building a town that is "child" friendly rather than adult friendly otherwise the Min of Ed might pull its funding for a school. The Yaldhurst subdivision certainly hasn't seen the change in school demographics they had expected.

Any insights into what will make this vision happen?

[Arbitrage]

Certainly not the easterly blowing sand across the subdivision each afternoon.

Christchurch is strange in that property prices are highest nearer the airport and lower nearer the coast (where Pegasus is also located.) A recent trip to New Brighton amazed me how run down the place looked with many of the houses quite delapidated. As an alternative to Pegasus, this would have to a cheaper option if you wanted to be near the beach and it is closer to town.

[percy]

I went and had a look today.Was a lot larger than I thought it would be.A long way from anywhere.45minutes to ch-ch.Would cost a fortune in petrol to drive to and from work.Miles away from a pak 'n save.Other than golf course nothing else much there.Nice view of the mountains.I would expect it would be very hard to sell a house there.If you want kids at a good school you would have to commute to ch-ch.That would be a hassel..Yes the easterly would be strong there. Trying to drive on Main North Road would also be a hassel. Banked up to Belfast in the morning.Sorry not for me.

[p2r]

OK so where are all the baby boomers going to move to when they retire over the next few years? Mary Holm last week thought Rotorua as hospital, golf, etc. I think Waikanae. But many will stay wher ethey are.