2011 Queenstown Property Sales Trending Ok!


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.

Type July
2011
Number of
sales
Residential Dwellings 16
Apartments  6
Units 10
Townhouses  
Sections / Vacant 14
Rural Lifestyle  
TOTAL 46
Value of
sales ($)
Dwellings(Excludes Apartments) $14,073,933
Apartments $4,887,000
Sections / Vacant $5,687,000
Rural Lifestyle  
TOTAL $24,647,933
Median
Sell Price
Dwellings all types $492,500
Apartments $681,000
Residential Dwellings $565,000
Units $397,716
Townhouses  
Sections / Vacant $290,000
Rural Lifestyle  
Median days to Sell Dwellings all types(Includes apartments)  32-days
Residential Sections 136-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%

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