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Central Otago's property boom spreads

Booming property sales in Cromwell were spilling over into Clyde and Alexandra, Central Otago real estate agents said.

Tuesday, February 11th 2003

Bayleys agent Mat Andrews of Wanaka said the average price paid for sites between 1200 and 1600 square metres was $149,000.

Nearby the tiny historical town of Clyde is also cutting itself a slice of the action. A character home "Dunstan Cottage" sold at auction yesterday for $255,000. It's capital value is $85,000.

LJ Hookers agent Garry Sutherland of Alexandra said the market was moving into Clyde because Cromwell property prices had escalated out of reach already.

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