How has 2017 kicked off with the latest REINZ reported sales for the month of January?
REINZ Regional Director, Gail Hudson commented for January 21017 that, “The LVR rules that came into effect in October are still having an effect on the market with fewer first home buyers active, although investors seeking higher end properties are more active. Inventory levels also appear to be rising as vendors consider their positions in light of the strong price increases over the past 12 months.”
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 2017 comparing January 2016
□ REINZ reported sales. Private / Developer direct sales not included.
|Property Type||January 2017||January 2016||Variance +/-|
|Residential Dwellings (RD)||19 sales||22 sales||-13.6%|
|RD Median Sell Price||$875,000||$1,042,000||-16.0%|
|Apartments (A)||2 sales||8 sales||-75.0%|
|A Median Sell Price||$646,000||$493,500||+30.0%|
|Units (U)||9 sales||9 sales||No change|
|U Median Sell Price||$625,000||$675,000||-7.4%|
|Townhouses (TH)||5 sales||1 sales||+400.0%|
|TH Median Sell Price||$850,000||$569,000||+49.3%|
|Residential Sections (RS)||12 sales||25 sales||-52.0%|
|RS Median Sell Price||$855,000||$360,000||+137.0%|
|Rural (R)||3 sales||5 sales||+40.0%|
|R Median Sell Price||$1,625,000||$2,700,000||-39.8%|
|Total Sales Numbers||50 sales||70 sales||-28.5%|
|Value of Sales $||$47,282,652||$57,210,687||-17.0%|
Footnote: Statistical analysis with a small sample (as is January sales) is like trying to make an astrological star discovery with a pair binoculars; so let’s wait and see how trends establish further into 2017.
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.
This month’s Featured Home:
1 Reading Court, Jack’s Point.
Beautifully crafted in one of Jack’s Point’s most established neighbourhoods, this spacious home invites you into a world of light and privacy. Step through the magnificent dual entrance doors into a world of opulent finishes and robust materials. Hearty timber beams in the living area tie inside and outside together in the alpine style renowned in this location. Designed with a northerly aspect, the sun-bathed living areas step out through sliders on both sides.
• Three bedroom, three bathroom home with office and double garage on 641sqm section
• Handy separate laundry with exterior access
• Wonderful master suite cleverly separated from the other bedrooms
• Abundance of guest parking
• Underfloor heating, heatpump and feature gas fireplace
• Conveniently located a short walk to the hub of Jack’s Point – the Clubhouse
An attractively landscaped section abundant with native plantings and a rocky pathway provides plenty of space for alfresco entertaining. The combination of cedar cladding, dry stone walls and timber pergola, against the striking alpine backdrop, just gets better and better with age.