Nine for twelve gone, and with three months of the calendar year left stand-alone residential dwellings continue to out-perform all other property types by sales volumes and robust median sell prices.
Sales of apartments by volume may have increased significantly throughout 2012 and while unit sales by volume are comparable to 2011 the trend for slippage in median sell prices continues for both property categories. Ironically the median sell price for both apartments and units firmed nicely in September compared to August however this does little to belie the trend. A four bedroom apartment within The Rees complex topped the list selling for $840,000.
The spike in the median sell price of Townhouses for September can be attributed to a Central Queenstown and Queenstown Hill property selling for $2.750m and $1.250m respectively. September reported eight sales north of $1.0m and within this mix was four residential dwellings, the two townhouses, a residential section and rural lifestyle home.
“Following on from a record August the Queenstown property market has remained strong. Sales of houses and apartments over winter were up 10% on the same period last year with 125 sales for the 3 months compared to 113 the previous year.
Agents are reporting good buyer enquiry and it has been noticeable that many buyers who have been researching the market over the last year are making decisions. Median days to sell have reduced from 78 last winter to 48 this year but median sale price for the 3 months has remained static to last year at $517,500.
There has been a reduction of new listings coming onto the market so far in spring and we are seeing property that has been marketed for some time attracting interest from buyers but generally after a reduction in asking prices.” Source: Mr Kelvin Collins – Media Spokesperson Queenstown, REINZ.
REINZ Reported sales by price of Queenstown Homes, Units and Townhouses.
Year-to-date January- September 2012 comparing 2011.
|Price Band||% of Total Sales 2012||% of Total Sales 2011|
|$351,000 – $450,000||20.2%||20.3%|
|$451,000 – $650,000||31.4%||35.4%|
|$651,000 – $999,000||17.2%||16.6%|
|$1.0m – $2.0m||10.5%||10.3%|
Queenstown Area Sales by Property Type Year-to-date
Report Period: January- September 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-Sept 2012||Jan-Sept 2011||Variance +/-|
|Residential Dwellings (RD)||246 sales||209 sales||+17.7%|
|RD Median Sell Price||$612,500||$575,000||+6.5%|
|Apartments (A)||80 sales||45 sales||+77.7%|
|A Median Sell Price||$400,000||$497,000||-19.5%|
|Units (U)||70 sales||71 sales||-1.4%|
|U Median Sell Price||$334,000||$390,000||-14.3%|
|Townhouses (TH)||27 sales||20 sales||+35.0%|
|TH Median Sell Price||$400,000||$408,000||-1.9%|
|Residential Sections (RS)||105 sales||108 sales||-2.7%|
|RS Median Sell Price||$240,000||$277,500||-13.5%|
|Rural (R)||23 sales||18 sales||+27.7%|
|R Median Sell Price||$850,000||$1,252,500||-34.1%|
|Total properties Sales||551 sales||471 sales||+17.0%|
|Total Value ($) of sales||$340,146,016||$300,529,543||+13.8%|
QUEENSTOWN AREA PROPERTY SALES: September 2012 v September 2011
Note: Data represents sales reported by REINZ agencies. Private sales not included.
|Type||Sept 2012||Aug 2012||Sept 2011|
|Number of sales||Residential Dwellings||24||35||26|
|Sections / Vacant||9||18||12|
|Value of sales ($)||Dwellings(Excludes Apartments)||$24,658,500||$25,567,000||$22,699,300|
|Sections / Vacant||$3,657,500||$4,980,000||$5,523,000|
|Median Sell Price||Dwellings all types||$575,750||$462,000||$539,000|
|Sections / Vacant||$290,000||$232,000||$405,500|
|Rural Lifestyle||$860,000||$1,100,000 (1)||$760,000|
|Median days to Sell||Dwellings all types(Includes apartments)||41-days||40-days||66-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.
Our customers that purchased where do they come from?
Snapshot year-to-date January-September 2012
|Locations customers National||16%|