It appears that the second half of the 2011 year is a continuum of the first with the Queenstown area reporting 46 property sales for July.
The usual spike ofwalk-in enquiry was somewhat defused with the New Zealand School holidays pushed back in July (Accommodate RWC 2011) and not overlapping as in past years with Australian school holiday-makers.
This said there was a positive lift in sales volume and value July comparing 2010. Key take-outs include an increased median sell price of apartments as a consequence of three sales ranging $840,000 through $1.450m.
The St Andrews Park residential subdivision recorded a solid 8-sales ranging $245,000 through $295,000. Sales at the plus $1.m threshold totaled six for the month.
QUEENSTOWN AREA PROPERTY SALES – July 2011
Data represents sales reported by REINZ agencies. Private sales not included.
|Sections / Vacant||14|
|Sections / Vacant||$5,687,000|
|Dwellings all types||$492,500|
|Sections / Vacant||$290,000|
|Median days to Sell||Dwellings all types(Includes apartments)||32-days|
With stocks declining in the US and Europe, a steady-as-you-go Queenstown property market is not half bad.
“Trends, like horses, are easier to ride in the direction they are going”. Source: John Naisbitt
Queenstown Area Sales by Property Type Year-To-Date 2011 comparing 2010.
□ Report compares aggregated sales January through July inclusive 2011 v 2010. REINZ reported sales; private sales not included.
|Property Type||2011||2010||Variance +/-|
|Residential Dwellings (RD)||161 sales||145 sales||+11.03%|
|RD Median Sell Price||$567,000||$555,000||+ 2.16%|
|Apartments (A)||35 sales||36 sales||– 2.78%|
|A Median Sell Price||$512,500||$415,000||+23.49%|
|Units (U)||55 sales||48 sales||+14.58%|
|U Median Sell Price||$390,000||$365,000||+ 6.85%|
|Townhouses (TH)||13 sales||17 sales||– 23.53%|
|TH Median Sell Price||$433,000||$450,000||-3.78%|
|Residential Sections (RS)||86 sales||70 sales||+22.86%|
|RS Median Sell Price||$275,000||$234,000||+17.52%|
|Rural (R)||12 sales||16 sales||-25.00%|
|R Median Sell Price||$1,410,000||$1,072,500||+31.47%|
|Total properties Sales||362 sales||332 sales||+9.04%|
|Total Value ($) of sales||$235,341,848||$190,898,273||+23.28%|