Executive Summary: Queenstown’s Real Estate Sales Y.T.D August 2015


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 Sales volume for Queenstown rose 3% compared to August 2014 however compared to July 2015, sales volumes fell 40% in Queenstown. The median price for Queenstown rose 1% compared to August 2014 and fell 16% comparing July 2015. The number of days to sell across Queenstown and Central Otago improved by 10 days from 49 days in July; to 39 days in August 2015. The past 10 years the average number of days to sell in August across the region has been 62 days.

REINZ Chief Executive, Colleen Milne, commented that “First home buyers are very active with the new subdivisions near Queenstown with low interest rates helping with buyer confidence. The auction market is very busy with most auctions well attended and prices being achieved above expectation.”

Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking. Source: REINZ Regional Analysis August 2015

 

Queenstown Area Sales by Property Type

Report Period: January- August 2015 comparing January- August 2014

□ Report compares aggregated sales

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

Property Type Jan –Aug 2015 Jan –Aug 2014 Variance +/-
Residential Dwellings (RD) 288 sales 223 sales +29.1%
RD Median Sell Price $736,000 $650,000 +13.2%
Apartments (A) 77 sales 51 sales +50.9%
A Median Sell Price $425,500 $428,000 -0.5%
Units (U) 82 sales 63 sales +30.1%
U Median Sell Price $467,500 $436,000 +9.2%
Townhouses (TH) 28 sales 21 sales +33.3%
TH Median Sell Price $561,750 $465,000 +20.8%
Residential Sections (RS) 140 sales 124 sales +12.9%
RS Median Sell Price $250,000 $265,000 -5.6%
Rural (R) 39 sales 38 sales +2.6%
R Median Sell Price $875,000 $880,000 -0.5%
Total Sales Numbers 654 sales 520 sales +25.7%
Value of Sales $ $458,105,576 $336,057,827 +36.3%

 

REINZ Reported sales by price of Queenstown Residential Homes

Year-to-date January-August 2015 comparing January- August 2014

Price Band % of Total Sales 2015 % of Total Sales 2014
<$350,000   5.3% 4.9%
$351,000 – $450,000   2.7% 6.3%
$451,000 – $650,000 26.1% 39.5%
$651,000 – $999,000 44.8% 28.7%
$1.0m –     $1.999m 18.7% 15.6%
$2.0m plus   2.4% 5.0%

 

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

Year-to-date January- August 2015 comparing January-August 2014

Price Band % of Total Sales 2015 % of Total Sales 2014
<$350,000 11.0% 12.8%
$351,000 – $450,000 11.8% 14.6%
$451,000 – $650,000 29.3% 34.9%
$651,000 – $999,000 33.6% 23.2%
$1.0m – $1.999m 12.5% 11.5%
$2.0m plus 1.8% 3.0%

 

REINZ Reported sales by price of Residential Sections.

Year-to-date January- August 2015 comparing January-August 2014

Price Band % of Total Sales 2015 % of Total Sales 2014
<$199,000 27.2% 31.7%
$200,000 – $299,000 32.9% 20.9%
$300,000 – $499,000 20.7% 19.5%
$500,000 – $749,000   8.6% 16.1%
$750,000 – $999,000   7.8% 7.2%
$1.0m – $2.0m   2.8% 4.6%

 Data Source: REINZ: Private & Developer direct 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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