Latest Property Sales Data for Queenstown


The buyer demand of late 2013 is clearly evident with 83 unconditionally sold residential and rural sales reported for the Month of January.  By sales volume this January was the highest in over seven years for the first calendar month of a year.  Of note are all but two sales were closed by Private Treaty negotiation with one auction and one tender property making up the mix.

The substantial lift in the median sell price of Apartments were a direct consequence of all seven sales closing above six hundred thousand dollars. Rees apartment sales dominated the stats with sales ranging $675K- $965K for a 3 bedroom, 3-bathroom, 3-key lake view apartment.

With nineteen Unit Titles property sales up from three the month prior clearly this inventory is in demand by first home buyers. By price 83% of these sales were for property values below $450K.

New build project remain high on buyers agenda with a healthy nineteen sales last month reflecting a myriad of addresses including: Arthurs Point, Kelvin Peninsula, Quail Rise, Jack’s Point and Hayes Creek to name a few.

Stand-alone dwelling sales surpassed December with a total thirty-one sales including eight homes sales above $1.5m. Multi-offers were to the fore in key neighbourhoods where demand exceeded supply and or the value proposition simply made sense for buyers actively scoping the market.

REINZ Reported sales by price of Queenstown Dwellings all types-(Homes, Apartments,

Units and Townhouses).

12-months February 2013 to January 2014 inclusive

Price Band % of Total Sales
<$350,000 15.2%
  $351,000 – $450,000 19.0%
  $451,000 – $650,000 34.0%
  $651,000 – $999,000 21.4%
  $1.0m – $2.0m   7.2%
  $2.0m plus   3.2%

Queenstown Area Sales by Property Type

Report Period: Most recent-6months August 2013-Janaury 2014 comparing

Previous 6-months February –July 2013

□ Report compares aggregated sales

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

Property Type Aug-2013-   Jan 2014 Feb 2013-

July 2013

Variance +/-
Residential Dwellings (RD) 157 sales 216 sales -27.3%
RD Median Sell Price $625,000 $605,500  +3.2%
Apartments (A) 43 sales 46 sales   -6.5%
A Median Sell Price $425,000 $387,500   +9.6%
Units (U) 64 sales 52 sales +23.0%
U Median Sell Price $400,000 $365,000   +9.5%
Townhouses (TH) 17 sales 24 sales -29.1%
TH Median Sell Price $390,000 $442,500 -11.8%
Residential Sections (RS) 74 sales 91 sales -18.6%
RS Median Sell Price $297,500 $245,000 +21.4%
Rural (R) 27 sales 18 sales +50.0%
R Median Sell Price $820,000 $905,000   -9.3%
Total properties Sales 382 sales 447 sales -14.5%
Total Value ($) of sales $258,927,605 $267,536,543   -3.2%

 QUEENSTOWN AREA PROPERTY SALES: January 2014 v January 2013

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

  Type Jan 2014 Dec 2013 Jan 2013
Number of sales Residential Dwellings 31 29 23
  Apartments   7 10  3
  Units 17   9  7
  Townhouses   1   4  1
  Sections / Vacant 19   3 13
  Rural Lifestyle   8   2  2
  TOTAL 83 57 49
Value of sales ($) Dwellings

(Excludes Apartments)

$36,164,250 $33,697,500 $20,075,500
  Apartments $4,697,000 $4,345,000 $1,360,000
  Sections / Vacant $8,039,055 $1,150,000 $5,364,957
  Rural Lifestyle $8,206,630 $1,870,000 $1,175,000
  TOTAL $57,106,935 $41,062,500 $28,562,957
Median Sell Price Dwellings all types $512,500 $513,000 $562,500
  Apartments $685,000 $395,000 $400,000
  Residential Dwellings $600,000 $650,000 $580,000
  Units $410,000 $345,000 $355,000
  Townhouses $298,000 $660,000 $373,000
  Sections / Vacant $288,000 $540,000 $210,500
  Rural Lifestyle $875,000 $935,000 $587,500
  Dwellings- Median days to sell 39-days 66-days 57-days
  Sections- Median days to sell 82-days 90-days 147-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.

 

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