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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES-Calendar Year 2016

REINZ Commentary—-“Sales volume for the Central Otago Lakes Region fell by 6% compared to October, with sales up 14% in Central but down 32% in Queenstown. Compared to November 2015 sales volume fell 16%, with sales falling 1% in Central and falling 36% in Queenstown. On a seasonally adjusted basis sales fell by 13% compared to October. The median price across the region rose $153,500 (+32%) compared to November 2015, with prices rising 69% in Queenstown and 14% in Central. Compared to October, the median price fell $23,500 (-4%) with prices rising 11% in Central, but falling by $500 in Queenstown. On a seasonally adjusted basis the median price fell 3% compared to October.

The number of days to sell improved by five days compared to October, from 38 days in October to 33 days in November. Compared to November 2015 the number of days to sell improved by three days. Over the past 10 years the average number of days to sell in November across the region has been 44 days. The level of inventory now stands at 16 weeks, a drop of five weeks over the past 12 months.”

REINZ Regional Director, Gail Hudson commented that, “First home buyers continue to sit on the side-lines in both Queenstown and Central with fewer investors active also. Numbers at open homes have also declined indicating an overall slowdown in the market. As a result inventory levels have improved offering more choice to the buyers that are active.”

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 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- Nov 2016 Jan– Nov 2015 Variance +/-
Residential Dwellings (RD) 472 ales  418 +12.9%
RD Median Sell Price $937,000 $735,000 +27.4%
Apartments (A) 100 sales 108 sales   -7.4%
A Median Sell Price $540,000 $425,500 +26.9%
Units (U) 102 sales  108 sales   -5.5%
U Median Sell Price $613,500 $490,000 +25.2%
Townhouses (TH) 52 sales 37 sales +40.4%
TH Median Sell Price $650,000 $660,000   -1.5%
Residential Sections (RS) 345 sales  224 sales +54.0%
RS Median Sell Price $343,332 $270,000 +27.1%
Rural (R) 78 sales 63 sales +23.8%
R Median Sell Price $1,325,000 $860,000 +54.0%
Total Sales Numbers 1149 sales  958 sales +19.9%
Value of Sales $ $955,449,725 $668,635,923 +42.9%

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

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $800,000. Sales above $1.0m represented 30.0% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $635,000. Sales above $1.0m represented 16.6% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   0.2%   5.45%
  $351,000 – $450,000   1.9%   8.2%
  $451,000 – $650,000   4.8% 23.7%
  $651,000 – $999,000 48.3% 40.1%
  $1.0m – $1.999m 36.0% 19.1%
  $2.0m plus   8.8%    3.5%

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   4.8% 11.2%
  $351,000 – $450,000   3.8% 13.7%
  $451,000 – $650,000 16.9% 25.5%
  $651,000 – $999,000 41.4% 30.8%
  $1.0m –      $1.999m 27.0% 14.3%
  $2.0m plus   6.1%   2.5%

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000  1.4%  20.5%
  $200,000 – $299,000 39.7 %  37.1%
  $300,000 – $499,000 33.9%  19.7%
  $500,000 – $749,000 11.6%    9.8%
  $750,000 – $999,000   6.9%    8.9%
  $1.0m – $2.0m   6.5%    4.0%

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

elm-tree50A Elm Tree Avenue, Frankton: For Sale

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 2016

REINZ Commentary—- Sales volume for the Central Otago Lakes Region rose by 7% compared to September, with sales up 14% in Central but down 1% in Queenstown. Compared to October 2015 sales volume fell 10%, with sales falling 15% in Central and 3% in Queenstown. On a seasonally adjusted basis sales fell by 1% in October.

The median price across the region rose $194,000 (+42%) compared to October 2015, with prices rising 48% in Queenstown and 10% in Central. Compared to September, the median price fell $35,500 (-5%) with prices rising 10% in Queenstown, but falling 17% in Central.

The number of days to sell eased by five days compared to September, from 33 days in September to 38 days in October. Compared to October 2015 the number of days to sell eased by seven days. Over the past 10 years the average number of days to sell in October across the region has been 52 days.

REINZ Regional Director Gail Hudson commented that, “First home buyers have stepped to the sidelines in light of the new LVR rules coming into play, however, other parts of the market appear to be functioning well. Overall the market appears to be steady with no firm direction either way.”

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- October 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- Oct 2016 Jan– Oct 2015 Variance +/-
Residential Dwellings (RD) 444 sales  370 sales  +20.0%
RD Median Sell Price $935,000 $735,500 +27.1%
Apartments (A) 91 sales 96 sales   -5.2%
A Median Sell Price $525,000 $425,500 +23.8%
Units (U) 98 sales  102 sales   -3.9%
U Median Sell Price $609,000 $490,000 +40.8%
Townhouses (TH) 47 sales 32 sales +46.8%
TH Median Sell Price $650,000 $622,500   +4.4%
Residential Sections (RS) 334 sales  210 sales +59.0%
RS Median Sell Price $330,125 $263,000 +25.5%
Rural (R) 70 sales 54 sales +29.6%
R Median Sell Price $1,275,000 $870,000 +46.5%
Total Sales Numbers 1084 sales  864 sales +25.4%
Value of Sales $ $944,773,875 $601,777,666 +57.0%

 

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

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)              $839,500. Sales above $1.0m represented 32.3% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)                     $637,500. Sales above $1.0m represented 16.1% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   0.2%   5.1%
  $351,000 – $450,000   2.0%   5.6%
  $451,000 – $650,000   5.1% 25.3%
  $651,000 – $999,000 48.8% 41.8%
  $1.0m – $1.999m 35.5% 18.5%
  $2.0m plus   8.4%    3.7%

 

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   5.1% 10.6%
  $351,000 – $450,000   4.1% 12.5%
  $451,000 – $650,000 16.7% 28.8%
  $651,000 – $999,000 41.8% 31.8%
  $1.0m –      $1.999m 26.5% 13.7%
  $2.0m plus   5.8%   2.6%

 

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000    1.5% 20.9%
  $200,000 – $299,000 40.8% 39.2%
  $300,000 – $499,000 33.9% 20.0%
  $500,000 – $749,000 10.8 %   7.6%
  $750,000 – $999,000    7.0%   8.5%
  $1.0m – $2.0m    6.0%   3.8%

 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.

Rural land for sale in Queenstown

Rural land for sale in Queenstown

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES-Calendar Year 2016

REINZ Commentary—-“Sales volume for the Central Otago Lakes Region rose by 11% compared to September 2015, with sales up 26% in Queenstown but flat in Central. Compared to August 2016, sales volume rose 7%, with sales rising 26% in Central but falling 9% in Queenstown. On a seasonally adjusted basis sales rose by 3% in September.

The median price across the region rose $202,000 (+41%) compared to September 2015, with prices rising 43% in Central and 21% in Queenstown.

The number of days to sell improved by one day compared to August, from 34 days in August to 33 days in September. Compared to September 2015 the number of days to sell improved by 10 days. Over the past 10 years the average number of days to sell in September across the region has been 58 days. The level of inventory now stands at 16 weeks, a drop of 47% over the past year.

REINZ Regional Director Gail Hudson commented that, “Investors have withdrawn from the market in part, along with buyers at the lower end of the market with the introduction of the new LVR restrictions. Despite this, the market remains active albeit not as strong as it has been in recent 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- September 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- Sept 2016 Jan– Sept 2015 Variance +/-
Residential Dwellings (RD) 404 sales  316 sales  +27.8%
RD Median Sell Price $921,000 $740,000 +24.4%
Apartments (A) 81 sales  92 sales -11.9%
A Median Sell Price  $500,000 $426,750 +17.1%
Units (U) 83 sales  91 sales -8.7%
U Median Sell Price $600,000 $470,000 +27.6%
Townhouses (TH) 44 sales  31 sales +41.9%
TH Median Sell Price  $650,000 $585,000 +11.1%
Residential Sections (RS) 321 sales  186 sales +72.5%
RS Median Sell Price  $330,000 $260,000 +26.9%
Rural (R) 64 sales  48 sales +33.3%
R Median Sell Price $1,225,000 $870,000 +40.8%
Total Sales Numbers 995 sales  764 sales +30.2%
Value of Sales $ $852,521,575 $533,929,571 +59.6%

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

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)              $835,000. Sales above $1.0m represented 31.3% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)                     $645,000. Sales above $1.0m represented 16.0% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   0.2%    4.8%
  $351,000 – $450,000   2.2%   2.6 %
  $451,000 – $650,000   5.4% 26.3%
  $651,000 – $999,000 49.8% 43.6 %
  $1.0m – $1.999m 34.7% 19.9%
  $2.0m plus    7.7%    3.1%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   5.2% 10.7%
  $351,000 – $450,000   4.4% 11.5%
  $451,000 – $650,000 17.1% 29.3%
  $651,000 – $999,000 42.0% 32.4%
  $1.0m –      $1.999m 25.9% 13.7%
  $2.0m plus   5.4%   2.4%

Lot-4010 Jack's Point Rise. For Sale!

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   0.6% 23.2%
  $200,000 – $299,000 42.0% 38.2%
  $300,000 – $499,000 34.6% 19.4%
  $500,000 – $749,000 10.0%   8.0%
  $750,000 – $999,000    6.8%   8.0%
  $1.0m – $2.0m    6.0%   3.2%

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 2016

REINZ Regional Director, Gail Hudson- “Sales volume for the Central Otago Lakes Region rose by 26% compared to April 2015 to reach a new all-time record high; the first region to hit a new volume since March 2007.

The Median price across the region rose $134,250 (+25%) compared to April 2015, with prices rising 31% in Queenstown and 17% in Central.

The number of days to sell eased by five days compared to March 2016, from 31-days to in March to 36-days in April 2016.

The market continues to be very strong, with a dramatic lift in the median sell price in March being bedded in in during April. The listing situation across the region remains tight with a 44% drop in inventory 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- April 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 –Apr 2016 Jan –Apr 2015 Variance +/-
Residential Dwellings (RD) 181 sales  151 sales  +19.8%
RD Median Sell Price $915,000 $689,000 +32.8%
Apartments (A) 30 sales  34 sales -11.7%
A Median Sell Price  $500,000 $420,000 +19.0%
Units (U) 31 sales  39 sales -20.5%
U Median Sell Price $565,000 $460,000 +22.8%
Townhouses (TH) 15 sales  23 sales -34.7%
TH Median Sell Price  $654,000 $568,500 +15.0%
Residential Sections (RS) 96 sales  48 sales +100.0%
RS Median Sell Price  $385,000 $250,900 +53.4%
Rural (R) 27 sales  19 sales +42.1%
R Median Sell Price $1,300,000 $940,000 +38.3%
Total Sales Numbers  380 sales  314 sales +21.0%
Value of Sales $ $327,860,682 $223,321,597 +46.8%

January & April 2016 comparing same period Year-to-date 2015:

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $830,000. Sales above $1.0m represented 32.6% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $612,300. Sales above $1.0m represented 13.3% of all sales.

 

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000     4.6%
  $351,000 – $450,000   1.6%   3.3%
  $451,000 – $650,000   6.0% 31.2%
  $651,000 – $999,000 49.8% 41.7%
  $1.0m – $1.999m 38.8% 16.6%
  $2.0m plus   3.8%   2.6%

 

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   8.3%   9.4%
  $351,000 – $450,000   3.0% 13.3%
  $451,000 – $650,000 15.1% 31.5%
  $651,000 – $999,000 41.6% 32.5%
  $1.0m –      $1.999m 28.9% 11.3%
  $2.0m plus   3.1%   2.0%

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   5.2% 35.4%
  $200,000 – $299,000 20.9% 22.9%
  $300,000 – $499,000 41.6% 18.7%
  $500,000 – $749,000 16.7%   4.3%
  $750,000 – $999,000   8.4% 14.6%
  $1.0m – $2.0m   7.2%   4.1%

 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.