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Home World New Zealand

Former high-flying property developer ditches private jets, luxury yacht amid downturn

13 April 2025
in New Zealand
Former high-flying property developer ditches private jets, luxury yacht amid downturn
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Summary

Matthew Horncastle, managing director of Williams Corporation, a Christchurch-based property development company, has scaled back his extravagant lifestyle in response to a slowdown in the housing sector. He has stopped chartering private jets and is now renting out his luxury superyacht, as the company experienced a significant decline in new builds, dropping from 631 homes in 2021 to 267. Despite this downturn, Horncastle remains optimistic and is looking forward to welcoming a baby with his partner.

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Tags: amiddeveloperDitchesDownturnformerhighflyingJetsLifestyleLuxurymatchPrivateprominentpropertySectorslowdowntrimmedyacht
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