Lake Waitaki Village ghost town for sale for the same price as a Sydney house

An entire ghost town is again for sale, and for the same price as a Sydney house.

Lake Waitaki Village, a 14-hectare lakeside freehold with majestic mountain vistas, has been empty for about 36 years.

The community at 567 Otematata-Kurow Road was constructed in the 1930’s as accommodation for workers on the local dam. However, when the dam’s operation flicked to automated in 1989, the workers moved away.

On the lip of Lake Waitaki, it was left by behind by industrial progress. However, being on a major tourist highway, to the major town of Oamaru, there is hope for its revival as a reception venue or holiday letting.

The listing price of $NZ2.9 million ($AU2.6 million) is on par with the suburban median house prices in Drummoyne, Matraville, Fie Dock, Dee Why and Cammeray.

A campaign was launched in 2018 to sell the collection of properties and it went viral, even attracting the interest of an unnamed American rock star, according to real estate portal OneRoof, who put a call into agents.

However, NZ public records show the last transaction was in 2001.

The village consists of eight refurbished houses and a large, formal lodge with manager’s accommodation, which has a reception desk, dining hall and billiard room.

The property is in “a valley well renowned for film making, fantastic wines, and holiday fun”, the listing explains.

“The area has been recently recognised as a UNESCO Global Geopark, and the village is located in good proximity to ski fields, hunting blocks, lakes and wineries.”

One Agency The Property Specialists in Oamaru are handling the campaign, through agents Alan McLay and Kelli Williams.