Latest Queenstown Area Property Sales Year-To-Date 2012


Queenstown Area Property Sales Year-To-Date 2012

The latest sales data for November highlights the spike in buyer interest that was clearly evident and reported throughout spring. Ironically even the stellar 77 sales last month (Value circa $39m) we didn’t have to cast our memories too far back to note late autumn for the month of May there were 80- REINZ reported sales with a shade over $53m in value of property sold.

Queenstown area property sales throughout this calendar year has been punctuated by spurts one month and dip the next, yet the underlying trend for the eleven months Jan-November 2012 makes good reading. Over sales have increased by volume +21.5% comparing same time 2011 and the values of these sales have increased +15.4% in twenty twelve. Comparing 2012 to 2011 the big movers by property type are residential dwellings and apartments with the volumes of sales increasing +20.7% and +60.35 respectively. The modest growth in the values of residential home +4.3% comparing 2011 could not however be matched with the value of apartments sliding by -18.1%.

Millbrook and the Lake Hayes area dominated sales north of $1m last month with three at Millbrook and a lakeside home selling on the Arrowtown –Lake Hayes Road. A stone’s throw away in Arrowtown there were nine residential home sales. Arthurs Point, Jack’s Point, Lake Hayes and neighbouring Hayes Creek featured prominently in land sales however a 1.3 acres land parcel on Wye Road topped the sales at $1.350m.

The strong sell down of units being continues with eleven sales for November and although there were two Queenstown cabin sales (each $25K) within the data the median sell price for units overall held up at $335,000.

REINZ Reported sales by price of Queenstown Homes, Units and Townhouses. Year-to-date January- November 2012 comparing 2011.

Price Band % of Total Sales 2012 % of Total Sales 2011
<$350,000 16.7% 16.1%
  $351,000 – $450,000 20.9% 20.8%
  $451,000 – $650,000 31.3% 34.3%
  $651,000 – $999,000 17.9% 16.8%
  $1.0m – $2.0m   9.5% 10.0%
  $2.0m plus   3.7%   2.0%

Queenstown Area Sales by Property Type Year-to-date

Report Period: January- November 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-Nov 2012 Jan-Nov 2011 Variance +/-
Residential Dwellings (RD) 313 sales 245 sales +27.7%
RD Median Sell Price $600,000 $575,000    +4.3%
Apartments (A) 93 sales 58 sales +60.3%
A Median Sell Price $405,000 $495,000 -18.1%
Units (U) 92 sales 87 sales   +5.7%
U Median Sell Price $336,500 $385,000 -12.6%
Townhouses (TH) 30 sales 27 sales +11.1%
TH Median Sell Price $412,000 $415,000    -0.7%
Residential Sections (RS) 135 sales 124 sales   +8.8%
RS Median Sell Price $239,000 $271,000 -11.8%
Rural (R) 25 sales 25 sales No change
R Median Sell Price $850,000 $1,100,000 -22.7%
Total properties Sales 688 sales 566 sales +21.5%
Total Value ($) of sales $410,229,916 $355,420,703 +15.4%

QUEENSTOWN AREA PROPERTY SALES: November 2012 v November 2011

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

  Type Nov 2012 Oct 2012 Nov 2011
Number of sales Residential Dwellings 39 28 21
  Apartments   9   4  6
  Units 11 11  6
  Townhouses   1   2  6
  Sections / Vacant 17 12  7
  Rural Lifestyle     2  3
  TOTAL 77 59 49
Value of sales ($) Dwellings

(Excludes Apartments)

$28,247,500 $22,626,400 $16,985,500
  Apartments $4,021,000 $1,830,000 $2,399,960
  Sections / Vacant $5,626,000 $5,848,000 $5,310,000
  Rural Lifestyle $1,640,000 $3,490,000
  TOTAL $38,894,500 $31,944,400 $24,695,460
Median Sell Price Dwellings all types $476,500 $517,000 $447,500
  Apartments $435,000 $482,500 $370,000
  Residential Dwellings $580,000 $588,000 $495,000
  Units $335,000 $355,000 $305,000
  Townhouses $511,000 (1) $398,500 $420,500
  Sections / Vacant $225,000 $292,000 $230,000
  Rural Lifestyle $820,000 $665,000
Median days to Sell Dwellings all types

(Includes apartments)

37-days 55-days 48-days
  Residential Sections 100-days 97-days 227-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-November 2012

Locations customers-Local 56.5%
Locations customers-Regional 12.5%
Locations customers National 16.5%
Locations customers-International 14.5%

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