The migration from renting to owning a Queenstown property you’d think would be clearly evident in the sales of dwellings priced $200,000 – $300,000. This rung of the property ladder is generally considered entry level in the resort where the median house prices usually hovers around $550,000.
Properties in this price band are a mix of residential dwellings, townhouses, units and live-in apartments. Some quick desktop analysis of REINZ reported sales for the 11-moths January – November 2011 shows a total 30 sales (2.7 sales per-month).
Two- bedroom properties represent 56% of the sales with a median sell price of $270,000.