EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to August 2017

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 – August 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-August 2017 Jan- August 2016 Variance +/-
Residential Dwellings (RD) 261 sales  366 sales  -28.6%
RD Median Sell Price $1.0m $920,000   +8.7%
Apartments (A) 46 sales 67 sales -31,3%
A Median Sell Price $579,500  $525,000 +10.3%
Units (U) 57 sales  74 sales  -22.9%
U Median Sell Price $695,000 $592,500 +17.3%
Townhouses (TH) 29 sales 37 sales -21.6%
TH Median Sell Price $900,000  $650,000 +38.4%
Residential Sections (RS) 119 sales  304 sales  -60.8%
RS Median Sell Price $495,652  $322,500 +53.6%
Rural (R) 46 sales 62 sales -25.8%
R Median Sell Price $1825,000 $1,175,000 +55.3%
Total Sales Numbers 558 sales  910 sales  -38.6%
Value of Sales $ $634,287,987 $763,289,062 -16.9%

January – August 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $895,000. Sales above $1.0m represented 38.6% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $835,000. Sales above $1.0m represented 31.4% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January- August 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000 nil     0.2%
  $351,000 – $450,000 1.9%     2.1%
  $451,000 – $650,000 3.8%     5.9%
  $651,000 – $999,000 44.0%   50.0%
  $1.0m – $1.999m 36.0%   34.9%
  $2.0m plus 14.3%     6.9%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- August 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   3.3%    4.2%
  $351,000 – $450,000   3.0%    4.5%
  $451,000 – $650,000 11.0%  18.0%
  $651,000 – $999,000 44.0%  41.9%
  $1.0m –      $1.999m 29.3%  26.5 %
  $2.0m plus   9.4%    4.9%

 REINZ Reported sales by price of Residential Sections.

January- August 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   0.8%     1.6%
  $200,000 – $299,000 12.6%   42.9%
  $300,000 – $499,000 37.0%   34.2%
  $500,000 – $749,000 15.1%     9.8%
  $750,000 – $999,000 19.3%     6.5%
  $1.0m – $2.0m 15.2%     5.0%

 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to July 2017

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 – July 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-July 2017 Jan- July 2016 Variance +/-
Residential Dwellings (RD) 226 sales  325 sales  -30.4%
RD Median Sell Price $992,500 $920,000   +7.8%
Apartments (A) 42 sales 61 sales  -31.1%
A Median Sell Price $587,500  $550,000   +6.8%
Units (U) 50 sales  61 sales  -18.0%
U Median Sell Price $687,500 $595,000 +15.5%
Townhouses (TH) 25 sales 22 sales  +13.6%
TH Median Sell Price $875,000  $654,500 +33.6%
Residential Sections (RS) 101 sales  180 sales  -43.8%
RS Median Sell Price $495,652  $391,500 +26.6%
Rural (R) 42 sales 52 sales  -19.2%
R Median Sell Price $1,900,000 $1,225,000 +55.1%
Total Sales Numbers 486 sales  701 sales  -30.6%
Value of Sales $ $551,228,459 $622,998,894 -11.5%

January – July2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $890,000. Sales above $1.0m represented 37.3% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $837,500. Sales above $1.0m represented 32% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January- July 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000    n/a   0.6%
  $351,000 – $450,000  2.2%   1.5%
  $451,000 – $650,000  3.5%   5.8%
  $651,000 – $999,000 44.7% 49.8%
  $1.0m – $1.999m 36.8% 35.5%
  $2.0m plus 12.8%   6.8%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- July 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.9%   4.4%
  $351,000 – $450,000   3.4%    3.6%
  $451,000 – $650,000 10.8% 16.4%
  $651,000 – $999,000 45.5% 43.3%
  $1.0m –      $1.999m 28.9% 27.0%
  $2.0m plus   8.5%    5.3%

 REINZ Reported sales by price of Residential Sections.

January- July 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000  0.9%   2.7%
  $200,000 – $299,000  8.9% 14.6%
  $300,000 – $499,000 38.7% 53.4%
  $500,000 – $749,000 15.8% 15.o%
  $750,000 – $999,000 19.8%   8.8%
  $1.0m – $2.0m 15.9%   5.5%

 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.

 

Home Sales 2017 – Jack’s Point.

Section for sale

Here’s a quick and dirty synopsis of home sales at the residential lifestyle subdivision of Jack’s Point.

Jack’s Point land sales dominated the sales stats last month (44% of total and a robust median sell price of $487,000).

Buyers committing to build at Jack’s Point based on our office experience will attract buyers should they elect to go to the market on the basis their price expectations are not a disconnect with informed buyers who are quick to recognize a future price as opposed to a today/ current market price point.

  • x 24 REINZ reported home sales across Jack’s Point year-to-date 2017 with a median sell price of $1,167,500
  • 3 Bedroom Homes (13 sales) representing 54% of the total with a median sell price of $1,030,000
  • 4 Bedroom Homes (10 sales) representing 41% of the total with a median sell price of $1,350,000
  • 5 Bedroom Homes (1 sale) representing 5% of the total with a median sell price of $1,650,000
  • X3 Falconer Rise Homes sales all 4-bedroom and median Sell price of $1,345,000

 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to June 2017

Section for sale

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 – June 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-June 2017 Jan- June 2016 Variance +/-
Residential Dwellings (RD)  196 sales  294 sales  -33.3%
RD Median Sell Price $992,500 $910,000 +9.0%
Apartments (A) 39 sales 53 sales  -26.4%
A Median Sell Price $590,000  $550,000 +7.2%
Units (U) 48 sales  52 sales  -7.6%
U Median Sell Price $617,500 $565,000 +9.2%
Townhouses (TH) 22 sales 20 sales  +10.0%
TH Median Sell Price $837,500 $650,500 +28.7%
Residential Sections (RS) 81 sales  157 sales  -48.4%
RS Median Sell Price $525,000  $390,000 +34.6%
Rural (R) 39 sales 48 sales  -18.7%
R Median Sell Price $1,850,000 $1,175,000 +57.4%
Total Sales Numbers 426 sales  624 sales  -31.7%
Value of Sales $ $489,852,759 $549,971,921 10.9%

January – May 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $880,000. Sales above $1.0m represented 36.3% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $830,000. Sales above $1.0m represented 30.0% of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January- June 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000 n/a   0.3 %
  $351,000 – $450,000    2.0%   2.0%
  $451,000 – $650,000    2.0%   6.1%
  $651,000 – $999,000 46.4% 50.6%
  $1.0m – $1.999m 36.7% 34.5%
  $2.0m plus 12.9%   6.5%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- June 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.9%   5.0%
  $351,000 – $450,000   3.4%   3.3%
  $451,000 – $650,000 10.5% 16.9%
  $651,000 – $999,000 46.9% 43.7%
  $1.0m –      $1.999m 28.2% 26.4%
  $2.0m plus   8.1%   4.7%

 REINZ Reported sales by price of Residential Sections.

January- June 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   1.2% 28.3%
  $200,000 – $299,000 11.1% 34.6%
  $300,000 – $499,000 34.5% 21.8%
  $500,000 – $749,000 12.4%   2.5%
  $750,000 – $999,000 21.0%   8.9%
  $1.0m – $2.0m 19.8%   3.9%

 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to May 2017.

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 – May 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-May 2017 Jan- May 2016 Variance +/-
Residential Dwellings (RD) 171 sales  245 sales  -30.2%
RD Median Sell Price $1.0m $902,000 +10.8%
Apartments (A) 33 sales 43 sales  -23.2%
A Median Sell Price $585,000 $570,000   +2.6%
Units (U) 43 sales  45 sales    -4.4%
U Median Sell Price $700,000 $562,500 +24.4%
Townhouses (TH) 19 sales 18 sales    +5.5%
TH Median Sell Price $875,000  $654,500 +33.6%
Residential Sections (RS) 72 sales  129 sales  -44.1%
RS Median Sell Price $512,500 $385,000 +33.1%
Rural (R) 36 sales 34 sales    +5.8%
R Median Sell Price $1,900,000 $1,250,000 +52.0%
Total Sales Numbers 374 sales  514 sales  -27.2%
Value of Sales $ $433,062,749 $441,135,482   -1.8%

January – May 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $879,000. Sales above $1.0m represented 36.8% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $830,000. Sales above $1.0m represented 31.6 % of all sales.

REINZ Reported sales by price of Queenstown Residential Homes

January- May 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   n/a   0.4%
  $351,000 – $450,000   2.3%   2.0%
  $451,000 – $650,000   2.3%   6.1%
  $651,000 – $999,000 44.8% 50.2%
  $1.0m – $1.999m 37.8% 35.5%
  $2.0m plus 13.0%   5.8%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- May 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000    3.0%   5.2%
  $351,000 – $450,000   2.6%   3.4%
  $451,000 – $650,000 11.0% 16.8%
  $651,000 – $999,000 46.7% 43.0%
  $1.0m –      $1.999m 28.5% 27.3%
  $2.0m plus   8.2%   4.3%

 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to April 2017.

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 – April 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-April 2017 Jan- April 2016 Variance +/-
Residential Dwellings (RD) 129 sales  181 sales  -28.7%
RD Median Sell Price $1.0m $915,000   +9.2%
Apartments (A) 24 sales 30 sales  -20.0%
A Median Sell Price $575,000 $500,000 +15.0%
Units (U) 37 sales  31 sales  +19.3%
U Median Sell Price $695,000 $565,000 +23.0%
Townhouses (TH) 16 sales 15 sales    +6.6%
TH Median Sell Price $862,500 $654,000 +31.8%
Residential Sections (RS) 38 sales  96 sales  -60.0%
RS Median Sell Price $630,000 $385,000 +63.6%
Rural (R) 29 sales 27 sales    +7.4%
R Median Sell Price $1,950,000 $1,300,000 +50.0%
Total Sales Numbers 273 sales  380 sales  -28.1%
Value of Sales $ $324,088,113 $327,860,682   -1.1%

January – April 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $862,500. Sales above $1.0m represented 36.4% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $830,000. Sales above $1.0m represented 32.2% of all sales.

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- April 2017 comparing same period Year-to-date 2016

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.9%   8.3%
  $351,000 – $450,000   3.4%   3.0%
  $451,000 – $650,000 11.2% 15.1%
  $651,000 – $999,000 46.3% 41.6%
  $1.0m –      $1.999m 28.7% 28.9%
  $2.0m plus   7.5%   3.1%

 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to March 2017.

REINZ Commentary March 2017: “Sales volume for the Central Otago Lakes Region rose 9% compared to February, with sales up 16% in Queenstown and 5% in Central. Compared to March 2016 sales volume fell 2%, with sales up 21% in Central but down 22% in Queenstown.  On a seasonally adjusted basis sales rose 9% compared to February.

The number of days to sell improved 16 days in March, from 53 days in February to 37 days in March.  Compared to March 2016 the number of days to sell eased by six days. Over the past 10 years the number of days to sell in March across the region has averaged 56 days.   There were 24 weeks of supply across the region in March, in line with the level of inventory in March 2016.”

REINZ Regional Director, Gail Hudson noted that: “The number of first home buyers active in the market continues to decline, with prices in Queenstown similar to Auckland prices. Banks continue to make lending challenging to most purchasers. Vendors are also noticing a change in the market with fewer attendees at open homes; however prices have eased only slightly.”

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 – March 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan-March 2017 Jan- March 2016 Variance +/-
Residential Dwellings (RD) 96 sales  116 sales  -17.2
RD Median Sell Price $959,500 $906.000  +5.9
Apartments (A) 17 sales 21 sales -19.0
A Median Sell Price $570,000 $487,000 +17.0
Units (U) 25 sales  25 sales    n/c
U Median Sell Price $665,000 $550,000 +20.9
Townhouses (TH) 16 sales 13 sales +23.0
TH Median Sell Price $860,000 $654,000 +31.5
Residential Sections (RS) 32 sales  74 sales  -56.7
RS Median Sell Price $510,326 $387,500 +31.7
Rural (R) 23 sales 16 sales +43.7
R Median Sell Price $1,950,000 $1,325,000 +47.1
Total Sales Numbers 209 sales  265 sales  -21.1
Value of Sales $ $239,779,913 $215,325,756 +11.3

January – March 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $850,000. Sales above $1.0m represented 34.4% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $800,000. Sales above $1.0m represented 30.8% of all sales.

 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year (Feb 2017)

REINZ Commentary February 2017: Sales volume for the Central Otago Lakes Region rose 48% compared to January, with sales up 57% in Queenstown and 42% in Central. Compared to February 2016 sales volume fell 9%, with sales down 14% in Central but up 2% in Queenstown. On a seasonally adjusted basis sales rose 4% compared to January, indicating that the lift in sales was larger than expected for February.

The median price across the region rose $168,889 (+30%) compared to February 2016, with prices rising 21% in Central and 9% in Queenstown. Compared to January, the median price rose $95,000 (+15%) with prices rising 9% in Queenstown and 22% in Central. On a seasonally adjusted basis the median price rose 13% compared to January.

The number of days to sell eased 18 days in February, from 35 days in January to 53 days in February. Compared to February 2016 the number of days to sell eased by 12 days. Over the past 10 years the number of days to sell in February across the region has averaged 58 days. There were 23 weeks of supply across the region compared to 21 weeks in January.

REINZ Regional Director, Gail Hudson commented that, “There are fewer first home buyers in the market; a flow on effect from the LVR restrictions on lending which has put some buyers out of the market for the foreseeable future. Investors are also being more cautious with offers generally below vendor expectations. Further there has been a slow-down in the auction market with the pass-in rate rising.”

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 & February 2017 comparing 2016

□ Report compares aggregated sales for the calendar year 2017 v 2016

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

Property Type Jan & Feb 2017 Jan & Feb 2016 Variance +/-
Residential Dwellings (RD) 54 sales  58 sales   -6.9%
RD Median Sell Price $885,000 $915,000   -3.2%
Apartments (A) 8 sales 15 sales -46.6%
A Median Sell Price $382,000 $487,500 -21.6%
Units (U) 17 sales  14 sales +21.4%
U Median Sell Price $635,000 $557,550 +13.8%
Townhouses (TH) 11 sales 7 sales +57.1%
TH Median Sell Price $850,000 $654,000 +29.9%
Residential Sections (RS) 17 sales  42 sales -59.5%
RS Median Sell Price $525,000 $360,000 +45.8%
Rural (R) 11 sales 14 sales -21.4%
R Median Sell Price $1,625,000 $1,675,000   -2.9%
Total Sales Numbers 118 sales   150 sales  -21.3%
Value of Sales $ $123,126,017 $124,212,787   -0.8%

January & February 2017 comparing same period Year-to-date 2016:

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $805,000. Sales above $1.0m represented 28% of all sales.
  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $782,000. Sales above $1.0m represented 30% of all sales.

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.

How has 2017 started for Queenstown’s Real Estate

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.

blog-1-reading

 This month’s Featured Home:

1 Reading Court, Jack’s Point.

View image gallery online:

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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES-12-months to December 2016

REINZ Commentary——“Sales volume for the Central Otago Lakes Region fell 11% compared to December 2015, with sales down 10% in Central and down 12% in Queenstown. Compared to November sales volume fell 20%, with sales steady in Queenstown but falling 29% in Central. On a seasonally adjusted basis sales fell by 1% compared to November, indicating that the drop in sales were about in line for December.

The median price across the region rose $89,275 (+16%) compared to December 2015, with prices rising 32% in Central and 10% in Queenstown. Compared to November, the median price rose $13,775 (+2%) with prices rising 9% in Central, but falling 10% in Queenstown. On a seasonally adjusted basis the median price rose 4% compared to November.

The number of days to sell was steady at 33 days compared to November. Compared to December 2015 the number of days to sell improved by eight days. Over the past 10 years the number of days to sell in December across the region has averaged 48 days. “

REINZ Regional Director, Gail Hudson commented that, “First home buyers continue to be less active due to the new LVR rules and strong prices across the region, although when a suitable property becomes available there is plenty of activity. Investor interest is not as strong as it was prior to the LVR legislation but there still remains good interest.”

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- December 2016 comparing 2015

□ Report compares aggregated sales for the calendar year 2016 v 2015

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

Property Type Jan- Dec 2016 Jan– Dec 2015 Variance +/-
Residential Dwellings (RD) 505 sales   454 sales  +11.2%
RD Median Sell Price $938,500 $740,000 +26.8%
Apartments (A) 104 sales  111 ales  -6.3%
A Median Sell Price $530,500  $428,000 +23.9%
Units (U) 110 sales   118 sales  -6.7%
U Median Sell Price $622,500 $490,000 +27.0%
Townhouses (TH) 53 sales  40 sales  +32.5%
TH Median Sell Price $650,000  $665,000 -2.2%
Residential Sections (RS) 353 sales   242 sales  +45.8%
RS Median Sell Price $343,333  $280,000 +22.6%
Rural (R) 84 sales  67 sales  +25.3%
R Median Sell Price $1,362,500 $860,000 +58.3%
Total Sales Numbers 1,209 sales   1,032 sales  +17.1%
Value of Sales $ $1,082,066,255 $723,112,455 +49.6%

January –December 2016 comparing same period Year-to-date 2015:

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)               $840,000. Sales above $1.0m represented 33.2% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)                    $645,000. Sales above $1.0m represented 17.2% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January- December 2016 comparing same period Year-to-date 2015

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000    0.1%   4.8%
  $351,000 – $450,000    1.8%   7.7%
  $451,000 – $650,000    5.0% 23.3%
  $651,000 – $999,000  48.0% 40.7%
  $1.0m – $1.999m  36.8% 20.1%
  $2.0m plus    8.3%   3.4%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- November 2016 comparing same period Year-to-date 2015

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   4.7% 10.8%
  $351,000 – $450,000   3.6% 12.8%
  $451,000 – $650,000 17.3% 27.8%
  $651,000 – $999,000 41.0% 31.3%
  $1.0m –      $1.999m 27.5% 14.7%
  $2.0m plus   5.9%   2.8%

REINZ Reported sales by price of Residential Sections.

January- December 2016 comparing same period Year-to-date 2015

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   1.4% 19.4%
  $200,000 – $299,000 38.9% 37.2%
  $300,000 – $499,000 33.7% 21.2%
  $500,000 – $749,000 11.9%   9.9%
  $750,000 – $999,000   7.3%   8.6%
  $1.0m – $2.0m   6.8%   3.7%

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.