Oakridge Homes is building about 50 houses in the Milns Green subdivision near Halswell Domain. The three to four-bedroom houses are priced from $800,000 to $850,000. Photo: Supplied Two of Christchurch’s largest property developers are buying more land to build homes as market conditions improve and interest rates decrease.
There have been 3766 new residential building consents approved between September 2023 and September 2024, a 6.7 per cent increase on the 3531 dwellings consented for the previous 12-month period. Multi-unit dwellings like apartments make up about 50 per cent of the consents, with 2539 approved.
Oakridge Homes has bought up land in Halswell and Belfast over the past six months, with about 100 standalone homes planned on the newly acquired sections. The developer is relatively new to the market, being founded in 2021, but it has grown to become one of the largest offering house-and-land packages in Canterbury. Director James Parker said the land purchases are about meeting buyer demand and building the three-to-four-bedroom family homes his company specialises in.
“We’re looking to maintain our position so we need to increase our land purchases to meet customer requirements. We’re seeing a pick up in the number of people buying and forecasting that there will be more,” he said. Oakridge is building about 50 homes in the Milns Green subdivision near Halswell Domain, with the exact number dependent on final plans.
The homes will have an asking p.
