Crouch, touch, pause, but little engagement.


September sales across the Queenstown area were down on August however values were up with stronger performance in the residential sector. Excluding rural sales the value of property transactions increased 14 per cent, from $26,742,895 in August to $30,504,800 last month.

There were five home sales of $1 million-plus along with five section sales breaking through the $500,000 price point.

On the positive side of the ledger the median number of days to sell dropped markedly in September.

Queenstown’s visitor statistics recently released for winter 2011 show a dip in Australian skier numbers which inhibited sales to this key sector of the international buyer market.

RWC 2011 generated good visitor numbers to the resort in the first half of September however with these international fans originating from long-haul markets they more interested in knowing where the best pub was with a large screen as opposed to knowing about best property buys. When the event moved to the North Island it was game over for our local economy these past 6-7 weeks.

QUEENSTOWN AREA PROPERTY SALES – September 2011

Note:Data represents sales reported by REINZ agencies. Private sales not included.

Type September
2011
August 2011 July 2011
Number of
sales
Residential Dwellings 26 22 16
Apartments   4   6   6
Units   3 13 10
Townhouses   4   3
Sections / Vacant 12 10 14
Rural Lifestyle   3   3
TOTAL 52 57 46
Value of
sales ($)
Dwellings(Excludes Apartments) $22,699,300 $20,379,395 $14,073,933
Apartments $2,282,500 $2,415,500 $4,887,000
Sections / Vacant $5,523,000 $3,948,000 $5,687,000
Rural Lifestyle $2,310,000 $5,630,000
TOTAL $32,814,800 $32,372,895 $24,647,933
Median
Sell Price
Dwellings all types $539,000 $495,000 $492,500
Apartments $429,750 $442,500 $681,000
Residential Dwellings $655,000 $567,500 $565,000
Units $305,000 $415,000 $397,716
Townhouses $361,500 $604,000
Sections / Vacant $405,500 $222,500 $290,000
Rural Lifestyle $760,000 $1,550,000
Median days to Sell Dwellings all types(Includes apartments) 66-days 74-days  114-days
Residential Sections 56-days 149-days 136-days

 Data Source: REINZ. Private sales data not included.

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 your legal, taxation and financial consultant prior to purchase.

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