The first-quarter will be noted for home buyers making their move with sales surging in the $450,000-$650,000 price band which was off-set by a marginal easing of sales in the $350k-$450K price bracket in first three months of 2013.

Standalone kiwi homes sales increased 36.5% in the first-quarter recording 109 sales up from 80 sales in 2012 whilst the volume of sales of units, townhouses and apartments has regressed. This slippage has been somewhat tempered with firming median sell prices for units increasing 17.9% and townhouses 19.2% while apartments declined by 16%.

The pace of residential section sales eased in March (15 sales) however year-to-date there’s been a 72% lift in land sales across the first quarter of 2013 comparing 2012. Building contractors and group home builders are in demand reflected by recruitment adverts seeking skilled trade staff. The geo-location of sales was extremely broad by suburb and areas and at least for one month not dominated by Jack’s Point, Lake Hayes Estate lot sales as has been the trend for an extended period.

Our office reports owner occupiers and those searching for just the right holiday property currently dominating our buyer profile. If attendance at last week’s Locations First Home Buyer Seminar is an indicator there’s most definitely plenty of pent up demand as home seekers backed by pre-approved finance have us plenty busy securing just the right property and brokering the sale.

REINZ Reported sales by price of Queenstown Homes, Units and Townhouses.

Year-to-date January –March 2013 comparing 2012.

Price Band	% of Total Sales 2013	% of Total Sales 2012
<$350,000	9.3%	24.5%
$351,000 – $450,000	15.8%	21.1%
$451,000 – $650,000	46.8%	28.8%
$651,000 – $999,000	16.6%	14.5%
$1.0m – $2.0m	8.7%	8.5%
$2.0m plus	2.8%	2.6%

Queenstown Area Sales by Property Type Year-to-date

Report Period: January – March 2013 comparing 2012.

□ Report compares aggregated sales for the calendar year 2013 v 2012

□ REINZ reported sales. Private / Developer direct sales not included.

Property Type	Jan-Mar 2013	Jan-Mar 2012	Variance +/-
Residential Dwellings (RD)	109 sales	80 sales	+36.25%
RD Median Sell Price	$578,000	$602,500	-4.0%
Apartments (A)	17 sales	23 sales	-26.0%
A Median Sell Price	$365,000	$435,000	-16.0%
Units (U)	24 sales	27 sales	-11.1%
U Median Sell Price	$377,500	$320,000	+17.9%
Townhouses (TH)	6 sales	12 sales	-50.0%
TH Median Sell Price	$457,500	$383,700	+19.2%
Residential Sections (RS)	50 sales	29 sales	+72.4%
RS Median Sell Price	$240,000	$277,500	-13.5%
Rural (R)	6 sales	8 sales	-25.0%
R Median Sell Price	$670,000	$1,050,000	-36.1%
Total properties Sales	212 sales	180 sales	+17.7%
Total Value ($) of sales	$125,568,107	$112,016,856	+12.1%

Queenstown Area Sales by Property Type Year-to-date

QUEENSTOWN AREA PROPERTY SALES: March 2013 v March 2012

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

	Type	Mar 2013	Feb 2013	Mar 2012
Number of sales	Residential Dwellings	40	46	29
	Apartments	10	4	9
	Units	10	7	7
	Townhouses	1	4	4
	Sections / Vacant	15	22	12
	Rural Lifestyle	3	1	2
	TOTAL	79	84	63
Value of sales ($)	Dwellings(Excludes Apartments)	$35,913,150	$34,439,650	$23,202,940
	Apartments	$4,593,000	$1,472,000	$3,509,000
	Sections / Vacant	$5,670,050	$12,497,800	$3,937,000
	Rural Lifestyle	$2,367,000	$640,000 (1)	$2,850,000
	TOTAL	$48,543,200	$49,049,450	$33,498,940
Median Sell Price	Dwellings all types	$546,000	$540,000	$445,000
	Apartments	$332,500	$295,000	$412,500
	Residential Dwellings	$595,000	$558,000	$551,250
	Units	$295,000	$475,000	$380,000
	Townhouses	$495,000 (1)	$510,000	$383,270
	Sections / Vacant	$275,000	$262,500	$230,000
	Rural Lifestyle	$900,000	$640,000 (1)	$1,425,000
Median days to Sell	Dwellings all types(Includes apartments)	43-days	34-days	66-days
	Residential Sections	124-days	158-days	122-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 of the past 12 months April 2012–March 2013

Locations customers-Local	55.0%
Locations customers-Regional	13.75%
Locations customers National	15.25%
Locations customers-International	16.0%