Opinion: Auction brings joy to buyers - and buildersSave
By Katie Holland
It must have been one of the more eagerly anticipated auctions in the city in recent times - and by all reports there was a real buzz and excitement in the packed auction room.
The 24 sections on the new Baxendale subdivision went under the hammer this week, in the blink of an eye being snapped up for a total of almost $6.2 million.
And in a move that would have pleased locals who had been saving up with the dream of one day building their own home, buyers were limited to two sections each.
That was a nice move by the owners, who opted to give families a reasonable shot despite it potentially limiting their profits by restricting investors.
Today we speak to two local families and a young electrician - all of whom are now proud owners of empty plots of land at Baxendale. They're all rapt.
In recent times it has been difficult to secure a section in Rotorua, which were as rare as hen's teeth. With more large swathes of land set to be subdivided in the coming months and years, there's now a light at the end of the tunnel for those who want to start from scratch.
While the cost of buying a Baxendale section then building on it is out of reach of many, in theory this should benefit all. The more houses there are, the better, to redress the balance between supply and demand.
It's a win win for everyone, particularly builders and tradies who must be rubbing their hands together with glee at the prospect of 24 new builds.
Also today we bring you the latest developments on Te Ngae Rd, which is buzzing not only from the traffic but the construction and groundworks happening in preparation for new developments.
The soon to be opened FreshChoice supermarket (a welcome addition to the eastside) has had 300 applications for 35 jobs. While 35 new jobs is great news for the city, the huge number of applications is a reminder - if one is needed - that even with all this residential and commercial development not everyone in the city has felt the effects of the city's growth yet. Many are still unemployed, struggling to make ends meet.
So while we should acknowledge the progress the city and aspects of its economy is making, let's not forget the situation is far from rosy for all.