Latest Queenstown Area Property Sales Year-to-Date 2013.


Residential home sales in April although down on volume comparing March; the flipside was a lift in the median sell price to $605,000 as a consequence of four sales last month above $1.95m. Millbrook lifestyle properties accounting for three of these sales along with a $2m home on Frankton Road. With a healthy 34 home sales reported for April, buyer demand was representative of a wide range of street, suburb and geo locations.

Apartment sales year-to-date are tracking well behind 2012 (-26.4%) as is the median sell price having declined in 2012 from $472,250 to $395,000 for the first four months of 2013. This regression would have been more pronounced had it not been for a $1.1m sale on Queenstown Hill and $1.9m Aspen Grove apartment sale reported in April’s sales stats.

With a 57% increase in section sales in the first four months of this year comparing 2012 the median sell price at $270,000 was bolstered by two adjoining sections on Queenstown Hill selling for a combined value of $1.8m and a Millbrook lifestyle lot at $1.2m reported last month.

Not that there’s any preoccupation with one-million dollars sales it’s worth to note buyer confidence is marginally up with a total 33 sales residential homes, apartments, townhouses and sections this year comparing 29 for the same period 2012.

Investment holiday style properties not encumbered by management agreements remain in solid demand especially sub-$700,000 and standalone homes $450K-$650K continue to be the property of choice for many buyers.

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

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

Price Band % of Total Sales 2013 % of Total Sales 2012
<$350,000 11.6% 20.9%
  $351,000 – $450,000 17.0% 20.9%
  $451,000 – $650,000 41.2% 25.9%
  $651,000 – $999,000 18.0% 16.5%
  $1.0m – $2.0m   8.5% 11.4%
  $2.0m plus   3.7%   4.4%

Queenstown Area Sales by Property Type Year-to-date

Report Period: January– April 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-Apr 2013 Jan-Apr 2012 Variance +/-
Residential Dwellings (RD) 143 sales 111 sales +28.8%
RD Median Sell Price $585,000 $630,000   -7.1%
Apartments (A) 25 sales 34 sales -26.4%
A Median Sell Price $395,000 $472,250 -16.4%
Units (U) 36 sales 34 sales   +5.8%
U Median Sell Price $377,500 $322,500 +17.0%
Townhouses (TH) 10 sales 13 sales -23.0%
TH Median Sell Price $457,500 $384,500 +18.9%
Residential Sections (RS) 63 sales 40 sales +57.5%
RS Median Sell Price $270,000 $276,250   -2.2%
Rural (R) 7 sales 13 sales -46.1%
R Median Sell Price $700,000 $850,000 -17.6%
Total properties Sales 284 sales 245 sales +15.9%
Total Value ($) of sales $171,349,037 $159,815,176   +7.2%

 Queenstown Area Sales by Property Type Year-to-date

QUEENSTOWN AREA PROPERTY SALES: April 2013 v April 2012

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

  Type Apr 2013 Mar 2013 Apr 2012
Number of sales Residential Dwellings 34 40 31
  Apartments   8 10 11
  Units 12 10   7
  Townhouses   4   1   1
  Sections / Vacant 13 15 12
  Rural Lifestyle   1   3   4
  TOTAL 72 79 66
Value of sales ($) Dwellings

(Excludes Apartments)

$33,539,930 $35,913,150 $33,021,500
  Apartments $4,987,000 $4,593,000 $6,297,000
  Sections / Vacant $5,804,000 $5,670,050 $5,215,000
  Rural Lifestyle $1,450,000 $2,367,000 $3,995,000
  TOTAL $45,780,930 $48,543,200 $48,528,500
Median Sell Price Dwellings all types $586,000 $546,000 $640,000
  Apartments $420,000 $332,500 $495,000
  Residential Dwellings $605,000 $595,000 $740,000
  Units $372,500 $295,000 $386,000
  Townhouses $501,500 $495,000 (1) $399,000 (1)
  Sections / Vacant $300,000 $275,000 $265,000
  Rural Lifestyle $1,450,000 (1) $900,000 $1,020,000
Median days to Sell Dwellings all types

(Includes apartments)

50-days 43-days 72-days
  Residential Sections 85-days 124-days 54-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 purchaser clients & where do they come from?

Snapshot of the past 12 months May 2012–April 2013

Locations customers-Local 59%
Locations customers-Regional 12%
Locations customers National 15%
Locations customers-International 14%

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