Christchurch’s new $2 million neighbourhoods
The Press – September 16, 2023
Imposing architectural designs, full-height windows, expansive views out towards the city, and mortgages to match.
These are the homes of Christchurch’s new $2 million neighbourhoods, sprouting fast on the lower slopes of the Port Hills in the suburbs of Cracroft and Kennedys Bush.
New subdivisions attracting moneyed buyers include Cashmere Estate at the base of the Christchurch Adventure Park, and the Redmund Spur and Stoneridge Downs developments on the northern flank of Kennedys Bush.
Between them the subdivisions will have about 850 sections, with new lots selling for up to $700,000.
Cashmere Estate developer Hamish Wright said with construction now under way on the elevated sites in the middle stages of his project, section buyers were spending plenty on their houses.
His company bought the land from the McVicar family and Christ’s College, and had spent $8m on timber retaining walls to turn slopes into level sites.
Wright said the development attracted homeowners wanting bespoke homes, and was not the right market for house and land packages or speculators.
This Cashmere Estate home won a Registered Master Builders Association House of the Year award in 2022.