EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to Feb 2018.

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: Calendar Year to date- January & February 2018 comparing 2017

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

Property Type Jan & Feb 2018 Jan & Feb 2017 Variance +/-
Residential Dwellings (RD) 75 sales  54 sales  +38.8%
RD Median Sell Price $1,185,000 $885,000 +33.9%
Apartments (A) 13 sales 8 sales +62.5%
A Median Sell Price $660,000 $382,000 +72.7%
Units (U) 18 sales  17 sales  +5.8%
U Median Sell Price $711,750 $635,000 +12.0%
Townhouses (TH) 4 sales 11 sales -63.6%
TH Median Sell Price $895,000 $850,000 +5.2%
Residential Sections (RS) 41 sales  17 sales  +141.1%
RS Median Sell Price $605,000 $525,000 +15.2%
Rural (R) 9 sales 11 sales -18.1%
R Median Sell Price $2,141,250 $1,625,000 +31.7%
Total Sales Numbers 160 sales  118 sales  +35.5%
Value of Sales $ $186,719,705 $123,126,017 +51.6%

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

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $985,000. Sales above $1.0m represented 47.7% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $805,000. Sales above $1.0m represented 28% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January & February 2018 comparing January & February 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
Ø              $450,000 n/a  3.7%
  $451,000 – $650,000  2.6%  1.8%
  $651,000 – $999,000 37.5% 53.7%
  $1.0m – $1.999m 46.6% 31.4%
  $2.0m plus 13.3%  9.4%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January & February 2018 comparing January & February 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
  >                  $450,000 1.0%  8.8%
  $451,000 – $650,000 13.6% 12.2%
   $651,000 – $999,000 38.1% 50.0%
  $1.0m –      $1.999m 37.3% 23.5%
  $2.0m plus 10.0%  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.

Land For Sale

 

Executive Summary- Queenstown’s Real Estate Sales Calendar Year 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 – December 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- Dec 2017 Jan- Dec 2016 Variance +/-
Residential Dwellings (RD) 378 sales  505 sales  -25.1%
RD Median Sell Price $1,050,000 $938,500 +11.8%
Apartments (A) 80 sales 104 sales -23.0%
A Median Sell Price $629,500 $530,500 +18.6%
Units (U) 76 sales  110 sales  -30.9%
U Median Sell Price $672,000 $622,500 +7.9%
Townhouses (TH) 38 sales 53 sales -28.3%
TH Median Sell Price $877,500 $650,000 +35.0%
Residential Sections (RS) 265 sales  353 sales  -24.9%
RS Median Sell Price $374,000 $343,333  +8.9%
Rural (R) 61 sales 84 sales -27.3%
R Median Sell Price $1,950,000 $1,362,500 +43.1%
Total Sales Numbers 898 sales  1,209 sales  -25.7%
Value of Sales $ $973,467,385 $1,082,066,255 -10.4

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

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $904,500. Sales above $1.0m represented 40.5% of all sales.
  • 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.

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000      0.1%
  $351,000 – $450,000   1.3%    1.8%
  $451,000 – $650,000   3.4%    5.0%
  $651,000 – $999,000 42.8%  48.0%
  $1.0m – $1.999m 37.0%  36.8%
  $2.0m plus 15.4%    8.3%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.4%   4.7%
  $351,000 – $450,000   3.2%   3.6%
  $451,000 – $650,000 10.7% 17.3%
  $651,000 – $999,000 43.1% 41.0%
  $1.0m –      $1.999m 29.9% 27.5%
  $2.0m plus 10.7%   5.9%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   5.2%   1.4%
  $200,000 – $299,000 34.0% 38.9%
  $300,000 – $499,000 25.7% 33.7%
  $500,000 – $749,000 14.3% 11.9%
  $750,000 – $999,000   9.8%   7.3%
  $1.0m – $2.0m 11.0%   6.8%

 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.

QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to November 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 – November 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- Nov 2017 Jan- Nov 2016 Variance +/-
Residential Dwellings (RD) 348 sales  472 ales  -26.2%
RD Median Sell Price $1,050,000 $937,000 +12.0%
Apartments (A) 70 sales 100 sales -30.0%
A Median Sell Price $605,500 $540,000 +12.1%
Units (U) 70 sales  102 sales  -31.3%
U Median Sell Price $677,500 $613,500 +10.4%
Townhouses (TH) 35 sales 52 sales -32.6%
TH Median Sell Price $880,000 $650,000 +35.3%
Residential Sections (RS) 247 sales  345 sales  -28.4%
RS Median Sell Price $345,000 $343,332   +0.4%
Rural (R) 57 sales 78 sales -26.9%
R Median Sell Price $1,950,000 $1,325,000 +47.1%
Total Sales Numbers 828 sales  1149 sales  -27.9%
Value of Sales $ $899,791,182 $955,449,725   -5.8%

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

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $900,000. Sales above $1.0m represented 40.7% of all sales.
  • 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.

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000        n/a   0.2%
  $351,000 – $450,000      1.4%   1.9%
  $451,000 – $650,000       3.4%   4.8%
  $651,000 – $999,000    42.5% 48.3%
  $1.0m – $1.999m    36.8% 36.0%
  $2.0m plus     15.9%   8.8%

 

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000   2.6%   4.8%
  $351,000 – $450,000   3.0%   3.8%
  $451,000 – $650,000 10.1% 16.9%
  $651,000 – $999,000 43.6% 41.4%
  $1.0m –      $1.999m 29.8% 27.0%
  $2.0m plus 10.9%   6.1%

 REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$199,000   5.6%  1.4%
  $200,000 – $299,000 36.0% 39.7 %
  $300,000 – $499,000 26.0% 33.9%
  $500,000 – $749,000 11.2% 11.6%
  $750,000 – $999,000 10.6%   6.9%
  $1.0m – $2.0m 10.6%   6.5%

 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.

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

Apartment-2 @ 35 Belfast Terrace, 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 – September 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-Sept 2017 Jan- Sept 2016 Variance +/-
Residential Dwellings (RD) 284 sales  404 sales  -29.7%
RD Median Sell Price $1,040,000 $921,000 +12.9%
Apartments (A) 54 sales 81 sales  -33.3%
A Median Sell Price $587,500  $500,000 +17.5%
Units (U) 63 sales  83 sales  -24.1%
U Median Sell Price $695,000 $600,000 +15.8%
Townhouses (TH) 31 sales 44 sales  -29.5%
TH Median Sell Price $900,000  $650,000 +38.4%
Residential Sections (RS) 205 sales  321 sales  -36.1%
RS Median Sell Price $360,000  $330,000   +9.0%
Rural (R) 50 sales 64 sales  -21.9%
R Median Sell Price $1,900,000 $1,225,000 +55.1%
Total Sales Numbers 687 sales  995 sales  -31.0%
Value of Sales $ $740,878,351 $852,521,575 -13.1%

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

  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $899,000. Sales above $1.0m represented 39.5% of all sales.
  • 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.

REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2017 % of Total Sales 2016
<$350,000 n/a   0.2%
  $351,000 – $450,000   1.7%   2.2%
  $451,000 – $650,000   3.8%   5.4%
  $651,000 – $999,000 43.0% 49.8%
  $1.0m – $1.999m 36.6% 34.7%
  $2.0m plus 15.1%    7.7%

 REINZ Reported sales by price covering all property types —(Homes, Units, Apartments and Townhouses).

January- September 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   3.4%   4.4%
  $451,000 – $650,000 11.0% 17.1%
  $651,000 – $999,000 43.2% 42.0%
  $1.0m –      $1.999m 29.3% 25.9%
  $2.0m plus 10.1%   5.4%

 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  0.4%   0.6%
  $200,000 – $299,000 38.5% 42.0%
  $300,000 – $499,000 27.8% 34.6%
  $500,000 – $749,000 10.7% 10.0%
  $750,000 – $999,000 12.1%    6.8%
  $1.0m – $2.0m 10.4%    6.0%

 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 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.

 

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.