Entire Town Up for Sale in New Zealand

Entire village in New Zealand listed for sale, asking for over $2.9 million. Courtesy of OneRoof

In the current property market, NZ$2.9 million (US$1.6 million) could buy one-and-a-half median-priced homes in Sydney—or an entire New Zealand town, complete with a bar and café.

Lake Waitaki Village, situated inland south of Christchurch on the Otematata-to-Kurow Road, is back on the market after a failed sale attempt a decade ago.

The buyer would acquire not only eight three-bedroom homes, but also an entire 585-square-metre lodge with a billiards room, five studio suites, a café and bar, a 10-bay car garage, and a car park.

Built in the 1930s, two of the stone houses have recently been refurbished, while six require interior renovations.

A Village Built for Dam Workers

Lake Waitaki Village was originally constructed to house workers building the Waitaki Dam, the only dam in New Zealand built entirely with pick and shovel.

At its peak, more than 2,000 people lived in the village.

The stone houses were reserved for the managers, while rows of wooden huts housed labourers.

Lake Waitaki Village was built in the 1930s to house people working on the Waitaki Dam. Courtesy of OneRoof

Birthplace of the World’s First Social Welfare System

The project was part of a government public works programme during the Great Depression, aimed at providing employment, and spawning the trial of what became the world’s first social welfare system.

In the nearby town of Kurow, local leaders—including doctor Gervan McMillan and reverend Arnold Nordmeyer—developed a system offering free medical treatment to workers and their families in exchange for a small weekly contribution.

The idea later influenced the creation of New Zealand’s national social welfare scheme, introduced in 1939.

A Unique Investment Opportunity

The property last sold in 2001 for just $294,000, but is now listed for $2.9 million. When it was last on the market in 2016, it drew worldwide interest—including from an American rock star.

However, the owners had a change of heart and took it off the market. They then explored subdividing the land for individual holiday home sales.

One Agency listing agent Kelli Williams said those plans were put on hold after the owners’ marriage ended.

“Lots of it has been done up really hugely, but there’s lots to do,” she said.

Potential buyers could repurpose the site as a conference venue, a large-scale Airbnb accommodation, or even a commune.

Tourism Accommodation with Scenic Views

The site has been run as tourism rental accommodation, described as “located on the edge of Lake Waitaki, near the Waitaki Dam, providing stunning views out across the entire lake and of the dam itself.”

Currently, three full-time residents live on the property—the owner in the main lodge and tenants in the two renovated cottages.

The other six houses have been stripped inside and require renovation.

While the exteriors are heritage-protected and cannot be altered, the interiors can be renovated.