Property sales continue on the rise in Queenstown, with a 19.8% increase in the volume of sales in the period from January to June compared with the corresponding period last year.
The median sale price of houses (residential dwellings) year to date is $620,000, up 9.3% on $567,000 in 2011. There is however regression in the median sell price of other property types with apartments -15.2%, Units -16% and Townhouses -9.8%. A negligible changed is recorded in residential section sales with the median sell price in 2012 of $260,375 compared to $259,500 in 2011.
The strong activity continues in the family sector of the market between $450,000 and $650,000 with this sell price band at 29.5% of all sales in 2012. When considering the wider scope of sales up to $450,000 overall buyer demand is greatest with 38% of all sales below this price point. As a consequence it’s been reported Queenstown sales agents note drop in new listings for sale sub-$450K.
Sales north of a million dollars in June were dominated by Queenstown Hill/ Commonage sales with two apartments selling at $1.0m and $1.375m along with a high end dwelling at $2.4m. Reviewing rural lifestyle, residential dwellings and vacant land sales at beyond one-million dollars threshold there’s an average of eight sales each month for the half year result to June 30th 2012.
At a national level keen buyer interest in Auckland and Christchurch, which together made up about half of national activity in June, drove the market higher, REINZ chief executive Helen O’Sullivan said. The overall pattern for the rest of New Zealand showed improvement in sales volumes, with prices on the whole steady rather than up. There were 6135 unconditional sales in June, an increase of 906 sales (up 17.3%) on the corresponding month last year, but a decline of 14.5% compared with May.
Queenstown Homes, Units and Townhouse sales January-June 2012:
|Price Band||% of Total Sales|
|$351,000 – $450,000||20.0%|
|$451,000 – $650,000||29.5%|
|$651,000 – $999,000||17.5%|
|$1.0m – $2.0m||10.0%|
Queenstown Area Sales by Property Type Year-to-date
Report Period: January- June 2012 comparing 2011
□ Report compares aggregated sales for the calendar year 2012 v 2011
□ REINZ reported sales. Private / Developer direct sales not included.
|Property Type||Jan-June 2012||Jan-June 2011||Variance +/-|
|Residential Dwellings (RD)||172 sales||145 sales||+18.6%|
|RD Median Sell Price||$620,000||$567,000||+9.3%|
|Apartments (A)||60 sales||29 sales||+106.0%|
|A Median Sell Price||$432,500||$510,000||-15.2%|
|Units (U)||49 sales||45 sales||+8.8%|
|U Median Sell Price||$327,500||$390,000||-16.0%|
|Townhouses (TH)||18 sales||13 sales||+38.4%|
|TH Median Sell Price||$390,500||$433,000||-9.8%|
|Residential Sections (RS)||66 sales||72 sales||-8.3%|
|RS Median Sell Price||$260,375||$259,500||+0.3%|
|Rural (R)||15 sale||12 sales||+25.0%|
|R Median Sell Price||$995,000||$1,410,000||-29.4%|
|Total properties Sales||380 sales||317 sales||+19.8%|
|Total Value ($) of sales||$245,062,266||$210,693,915||+16.3%|
QUEENSTOWN AREA PROPERTY SALES: June 2012 v June 2011
Note: Data represents sales reported by REINZ agencies. Private sales not included.
|Type||June 2012||May 2012||June 2011|
|Number of sales||Residential Dwellings||21||40||23|
|Sections / Vacant||11||15||13|
|Value of sales ($)||Dwellings
|Sections / Vacant||$3,647,341||$4,412,750||$6,042,000|
|Rural Lifestyle||$1,275,000||$1,795,000||$ 800,000 (1)|
|Median Sell Price||Dwellings all types||$500,000||$525,000||$535,000|
|Sections / Vacant||$320,000||$235,000||$275,000|
|Rural Lifestyle||$1,275,000 (1)||$897,500||$800,000 (1)|
|Median days to Sell||Dwellings all types
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.
Our customers that purchased where do they come from?
Snapshot year-to-date January-June 2012
|Locations customers National||12.5%|