Spacious: The living area of a three-bedroom Willow Pond unit


If you’re needing proof Queenstown’s in the middle of a property boom, check out Jack’s Point’s Willow Pond.

An 82-property enclave, bordering Hanley’s Farm, it surrounds a natural lake, Willow Pond, that’s being transformed from what was a willow-infested swamp.

Eleven million-dollar-plus lakeside sections sold before they even hit the market.

Two stages of off-the-plan, two-level, affordable duplex homes — either three-bedroom, two-bathroom houses or one-bedroom studio units — have also been released.

Within two weeks, the first stage of 20 units was sold out and, as of last Thursday, over half the next stage of 28 had also sold.

The one-bedders, now selling for $599,000, were $579,000 in the first stage, and the three-bedders range from $879,000.

In addition, several exclusive boathouses, cantilevered over the edge of the water, will probably be released next month.

Dean Franklin, owner of development company Falconer, confirms buyer interest has exceeded his expectations.

‘‘We had 36 contacts overnight when we first put [the units] out — there is a pent-up demand there.

‘‘You’ve got a price point for first-home buyers they can really afford.’’

As they’re new-builds, he notes they’re also not affected by the government’s new housing restrictions.

Franklin’s local sales manager, Willie Baddeley, says interest’s coming from both first-home buyers and investors.

Revived: A restored willow pond is at the centre of a new Jack’s Point settlement

The fact the subdivision’s across adjoining Woolshed Road from the new Hanley’s Farm school, opening next year, is also attractive, Franklin notes.

Unlike most Jack’s Point properties, Willow Pond buyers won’t have to pay fees to the Jack’s Point owners’ association, and as the units are all freehold there aren’t any body corporate fees.

A key to the units’ affordability is the timber elements and panels will be prefabricated at the new Hector Egger New Zealand factory in Cromwell.

It’s co-owned by Franklin’s brother, Queenstown-based Tristan.

Hector’s precision European technology means the units will be built well above NZ’s building code, and will be ready only three months from when the machine-made product arrives on-site.

Franklin’s also using Hector Egger NZ for another Jack’s Point enclave, North Villas, which is a prototype for Willow Pond.

‘‘The product goes up in three days, fully dry, airtight and watertight, so you’ve got a much better build quality.’’

Despite the units’ affordability, kitchens, for example, will feature engineered stone benchtops and ceramic splashbacks.

And, for the three-bedders, there’ll be Miele appliances you’d associate with higher-end housing.

Franklin — who’s also developing Jack’s Point’s first commercial/residential complex, Clubhouse Lane — expects all the first-stage units and probably half the second-stage units will be completed by the end of the year.