REINZ Chief Executive, Colleen Milne commented “Sales volume for the Central Otago Lakes region rose by 43% compared to November 2014, and sales rising 63% in Central and by 22% in Queenstown. Compared to October 2015, sales volume was steady at 173 sales, with sales rising 3% in Queenstown but falling 2% in Central.
The median price across the region rose $17,000 (+4%) compared to October, with prices rising 8% in Central, but falling 13% in Queenstown.
The number of days to sell eased by five days compared to 31 days in October to 36 days in November. Sales across the region remains very strong with the number of sales for November fourth equal for all months since 1992, with more of the sales growth coming from Central than Queenstown.”
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- November 2015 comparing January- November 2014
□ Report compares aggregated sales
□ REINZ reported sales. Private / Developer direct sales not included.
| Property Type | Jan –Nov 2015 | Jan –Nov 2014 | Variance +/- |
| Residential Dwellings (RD) | 418 | 313 sales | +33.5% |
| RD Median Sell Price | $735,000 | $670,000 | +9.7% |
| Apartments (A) | 108 | 83 sales | +30.1% |
| A Median Sell Price | $425,500 | $440,000 | -3.1% |
| Units (U) | 108 | 83 sales | +30.1% |
| U Median Sell Price | $490,000 | $435,000 | +12.6% |
| Townhouses (TH) | 37 | 28 sales | +32.1% |
| TH Median Sell Price | $660,000 | $461,000 | +43.1% |
| Residential Sections (RS) | 224 | 176 sales | +27.2% |
| RS Median Sell Price | $270,000 | $260,000 | +3.8% |
| Rural (R) | 63 | 55 sales | +14.5% |
| R Median Sell Price | $860,000 | $930,000 | -7.5% |
| Total Sales Numbers | 958 sales | 738 sales | +29.8% |
| Value of Sales $ | $668,635,923 | $488,451,719 | +36.8% |
REINZ Reported sales by price of Queenstown Residential Homes
Year-to-date January-November 2015 comparing January- November 2014
| Price Band | % of Total Sales 2015 | % of Total Sales 2014 |
| <$350,000 | 5.4% | 4.8% |
| $351,000 – $450,000 | 8.2% | 5.7% |
| $451,000 – $650,000 | 23.7% | 36.5% |
| $651,000 – $999,000 | 40.1% | 31.9% |
| $1.0m – $1.999m | 19.1% | 15.9% |
| $2.0m plus | 3.5% | 5.2% |
REINZ Reported sales by price covering all property types —
(Homes, Units, Apartments and Townhouses).
Year-to-date January- November 2015 comparing January-November 2014
| Price Band | % of Total Sales 2015 | % of Total Sales 2014 |
| <$350,000 | 11.2% | 13.5% |
| $351,000 – $450,000 | 13.7% | 13.9% |
| $451,000 – $650,000 | 27.5% | 33.7% |
| $651,000 – $999,000 | 30.8% | 24.6% |
| $1.0m – $1.999m | 14.3% | 11.0% |
| $2.0m plus | 2.5% | 3.3% |
REINZ Reported sales by price of Residential Sections.
Year-to-date January- November 2015 comparing January-November 2014
| Price Band | % of Total Sales 2015 | % of Total Sales 2014 |
| <$199,000 | 20.5% | 35.3% |
| $200,000 – $299,000 | 37.1% | 24.5% |
| $300,000 – $499,000 | 19.7% | 19.3% |
| $500,000 – $749,000 | 9.8% | 11.9% |
| $750,000 – $999,000 | 8.9% | 6.2% |
| $1.0m – $2.0m | 4.0% | 2.8% |
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..
Steve Lindsay 