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


Sales levels in September broke the 100 mark for the second time in 2015. This included 46 section sales which is a record level post GFC compared to only 7 for September last year. Over the last three months there have been 106 section sales compared to 26 the same quarter in 2014

The section sales predominately occurred at Jacks Point with buyers activated due to the  capital growth on previous months and the last of wholesale section sell offs from the original investors. Many of these buyers have been renting in Queenstown or living in units and decided that the historical pricing of sections would not last and a shortage of selection was becoming apparent.

Demand for family homes continues at unprecedented levels buoyed by employment opportunities. The market is also experiencing increased demand in the middle to upper sectors of the market fuelled by residents looking to move from Auckland for lifestyle.” Source: Kelvin Collins, Real Estate Institute of New Zealand Queenstown spokesman

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.

 Queenstown Area Sales by Property Type

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

□ Report compares aggregated sales

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

Property Type Jan –Sept 2015 Jan –Sept 2014 Variance +/-
Residential Dwellings (RD) 316 sales 250 sales +26.4%
RD Median Sell Price $740,000 $653,750 +13.1%
Apartments (A) 92 sales 57 sales +61.4%
A Median Sell Price $426,750 $420,000 +1.6%
Units (U) 91 sales 70 sales +30.0%
U Median Sell Price $470,000 $434,000   +8.2%
Townhouses (TH) 31 sales 21 sales +47.6%
TH Median Sell Price $585,000 $465,000 +25.8%
Residential Sections (RS) 186 sales 131 sales +41.9%
RS Median Sell Price $260,000 $265,000   -1.8%
Rural (R) 48 sales 46 sales +4.3%
R Median Sell Price $870,000 $885,000   -1.6%
Total Sales Numbers 764 sales 575 sales +32.8%
Value of Sales $ $533,929,571 $379,373,901 +40.7%

 

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2015 % of Total Sales 2014
<$350,000 4.8% 4.4%
$351,000 – $450,000 2.6 % 5.6%
$451,000 – $650,000 26.3% 40.0%
$651,000 – $999,000 43.6 % 28.8%
$1.0m –     $1.999m 19.9% 16.4%
$2.0m plus 3.1% 4.8%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2015 % of Total Sales 2014
<$350,000 10.7% 12.6%
$351,000 – $450,000 11.5% 14.5%
$451,000 – $650,000 29.3% 34.6%
$651,000 – $999,000 32.4% 23.4%
$1.0m – $1.999m 13.7% 11.9%
$2.0m plus 2.4% 3.0%

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2015 % of Total Sales 2014
<$199,000 23.2% 34.3%
$200,000 – $299,000 38.2% 22.2%
$300,000 – $499,000 19.4% 18.3%
$500,000 – $749,000 8.0% 14.5%
$750,000 – $999,000 8.0% 6.9%
$1.0m – $2.0m 3.2% 3.8%

 Data Source: REINZ: Private & Developer direct sales data not included.

Three pocket sized lots new to the market and for sale ranging 420sqm - 450sqm land area

Three pocket sized lots new to the market and for sale ranging 420sqm – 450sqm land area

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