Queenstown’s property sales for April will generate positive market commentary!


House sales, prices down in April

Source: NZ Herald May 11, 2011    /  Excerpt—

“House sales volumes fell in April both year-on-year and compared with March, the Real Estate Institute of New Zealand (REINZ) says, and the national median house prices also dropped despite a new all time high in Auckland.

REINZ says 4987 houses sold in April this year, down from 5848 in March and 5207 in April 2010.

The national median house price fell by $5000 to $360,000 from March, but was up $4000 compared with April 2010.

The Auckland region recorded a new all time high median house price in April of $479,500 topping the previous high of $477,000 recorded last November.”

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Queenstown Property Sales Up Month of April 2011; well that’s at least according to my quick a dirty desktop analysis of the date

Swinging the compass to look at what happened in Queenstown’s property market in April; all points lead to a very robust month’s sales performance.

  • April recorded a total 78 residential and rural sales up from 52 in March-2011 and 68 April 2010
  • Value of reported sales $63.7m April 2011 up from $27.6m in March 2011 and $33.3m in April 2011
  • A one-off rural subdivision sale of $11.8m certainly added its weight to the total value of sales last month. Factoring out all rural sales last month ($18.1m) residential land and dwelling sales for April of $45.6m is up from March 2011 of $27.6m and $30.8m in April 2010
  • Median sell price of dwellings (all types) $520,000 in April 2011 up from $515,000 in March 2011 and $450,000 in April 2010

Property sales for the Queenstown area reported the three months calendar year-to-date 2011 were tracking by sales value and volume to match the same quarter in 2010. April’s sales will most certainly stretch a margin and maybe even garner some positive market commentary when the official data is released?

Disclaimer: While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from the regulatory body and property, taxation, legal and financial consultants prior to purchase.

 

 

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