Teviot Valley: Central Otago’s Hidden Gem for Affordable Property, Rural Bliss, and Rapid Growth

Equidistant from Dunedin and the tourist hot spots of Queenstown and Wanaka lies the Teviot Valley, an area in Central Otago where you can still get extraordinary value for money when it comes to purchasing property.

And there’s plenty more reasons why people are deciding to move to the area with the most common area being the appeal of living a quiet, rural life whilst just a short drive away to the hustle and bustle of bigger towns.

The talk of the town at the moment is all about the Quail Haven subdivision. Formerly an orchard in Roxburgh, Quail Haven was purchased in 2003 for residential development and received resource consent for 24 residential sections two years later.

Once launched to the market there was great excitement around the sites being both affordable and offering views of the Clutha River. Back then sale prices ranged from $52,000 to $65,000 and 14 of the sections were snapped up at auction by eager buyers. However, a protracted period of compliance matters delayed titles being issued for many years.

When titles were eventually issued in 2010; 12 of the original 14 purchasers had cancelled their contracts, and sales were slow as NZ was recovering from a recession.

Things trickled along for a few years before sales started to take off in 2017 and by the close of 2019 all sections were sold. From 2017 to 2023 the sale price soared from $80,000 to $200,000, simply phenomenal growth!

Throughout the lifetime of Quail Haven eight homes have been built with the rest of the purchasers land banking for building on or future sale. This year we’ve seen two new builds completed, another two are currently under construction and groundworks are underway for a further two new builds scheduled for this year.

As reported in our latest market report, a record sale price has been set this July by our Harcourts Alexandra sales consultant Brigitte Paterson, achieving the sale of a 551m2 section for $250,000.

This particular section was originally purchased in 2010 for $83,000 and the seller is over the moon with the result. Brigitte says, “While this is a record for Roxburgh it is still a very affordable section for Central Otago.” A further two sections at Quail Haven have been brought to the market this month due to changes to the Brightline test.

Brigitte has been involved in the Quail Haven development since she became a licensed real estate agent in 2009. “Apart from the original two sales, I have sold every section, some twice. It’s exciting to be a part of a buyer’s journey as they look to build their new home.”

What’s interesting is the widespread interest in these sections. While a lot of the buyers are Central Otago locals, Kiwis have been purchasing from Southland, Dunedin, Queenstown, and Canterbury.

The interest also extends internationally with some buyers from Australia, USA, and Hong Kong. Overall, the Teviot Valley is holding its own. “The volume of sales for the Teviot Valley has been steady over the past 6 months with 20 residential sales, which is up on 18 sales for the same period last year,” reports Brigitte.

Businesses are reporting a steady winter, similar to other years. Confidence from local business owners has seen two commercial buildings refurbished and earthquake strengthened. There’s also talk about the proposed mining development at Millers Flat, if this development gets the green light, it will create jobs and therefore pressure on the housing market. And if you needed another reason to move, invest, or take a trip… “I just have to say the winter climate in the Teviot Valley is so much better than many Central Otago towns.

Whilst much of Central has been under inversion layers or hoar frost the past few weeks, the Teviot Valley has been basking in sunshine!”