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REINZ Regional Director Gail Hudson commented that, “Investors have withdrawn from the market in part, along with buyers at the lower end of the market with the introduction of the new LVR restrictions.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 Report Commentary—-“Sales volume for Central Otago Lakes Region rose by 27% compared to August 2015 with sales up 90% in Queenstown. Compared to July 2016 sales volume rose 49% in Queenstown. The median selling price across the region rose 44% in Queenstown comparing August 2015 and from the previous month July 2016 prices fell 13% in Queenstown.

The number of days to sell improved by three days from 37 days in July to 34 days for August 2016. Over the past ten years the average number of days of sell in August across the region has been 59-days.

REINZ Regional Director- Gail Hudson commented that, the number of active buyers in the market slowed over the past few weeks as the LVR changes weigh on people’s mind. Underlying demand remains solid as we head into spring.”

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 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- Aug 2016 Jan– Aug 2015 Variance +/-
Residential Dwellings (RD) 366 sales  288 sales  +27.0%
RD Median Sell Price $920,000 $736,000 +25.0%
Apartments (A) 67 sales 77 sales -12.9%
A Median Sell Price  $525,000 $425,500 +23.3%
Units (U) 74 sales  82 sales   -9.7%
U Median Sell Price $592,500 $467,500 +26.7%
Townhouses (TH) 37 sales 28 sales +32.1%
TH Median Sell Price  $650,000 $561,750 +15.7%
Residential Sections (RS) 304 sales  140 sales +117.1%
RS Median Sell Price  $322,500 $250,000 +29.0%
Rural (R) 62 sales 39 sales +58.9%
R Median Sell Price $1,175,000 $875,000 +34.2%
Total Sales Numbers 910 sales  654 sales +39.1%
Value of Sales $ $763,289,062 $458,105,576 +66.6%

January – August 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 31.4% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse)                    $642,500. Sales above $1.0m represented 14.3% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000     0.2%   5.3%
  $351,000 – $450,000     2.1%   2.7%
  $451,000 – $650,000     5.9% 26.1%
  $651,000 – $999,000   50.0% 44.8%
  $1.0m – $1.999m   34.9% 18.7%
  $2.0m plus     6.9%   2.4%

 

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000    4.2% 11.0%
  $351,000 – $450,000    4.5% 11.8%
  $451,000 – $650,000  18.0% 29.3%
  $651,000 – $999,000  41.9% 33.6%
  $1.0m –      $1.999m  26.5 % 12.5%
  $2.0m plus    4.9%   1.8%

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000     1.6% 27.2%
  $200,000 – $299,000   42.9% 32.9%
  $300,000 – $499,000   34.2% 20.7%
  $500,000 – $749,000     9.8%   8.6%
  $750,000 – $999,000     6.5%   7.8%
  $1.0m plus     5.0%   2.8%

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 Central Otago Lakes Region rose 2% compared to June, with sales up 35% in Central however down 25% in Queenstown. On a seasonally adjusted basis sales rose by 7% in July across the region.

The median price across the region rose $160,000 (+32%) compared to July 2015, with prices rising 39% in Queenstown and 21% in Central.

The number of days to sell improved by one day compared to June, from 38-days to 37-days in July. Compared to July 2015 the number of days to sell improved by 12-days. Over the past ten years the average number of days to sell has been 72-days. The level of inventory has fallen by 20-weeks over the past 12-months and now stands at 16-weeks.”

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 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- July 2016 Jan– July 2015 Variance +/-
Residential Dwellings (RD) 325 sales  270 sales  +20.3%
RD Median Sell Price $920,000 $740,000 +24.3%
Apartments (A) 61 sales  70 sales -12.8%
A Median Sell Price  $550,000 $425,250 +29.2%
Units (U) 61 sales  72 sales -15.2%
U Median Sell Price $595,000 $467,500 +27.2%
Townhouses (TH) 22 sales  24 sales -8.3%
TH Median Sell Price  $654,500 $614,250 +6.5%
Residential Sections (RS) 180 sales  115 sales +56.5%
RS Median Sell Price  $391,500 $245,000 +59.8%
Rural (R) 52 sales  35 sales +48.5%
R Median Sell Price $1,225,000 $875,000 +40.0%
Total Sales Numbers 701 sales  586 sales +19.6%
Value of Sales $ $622,998,894 $417,447,252 +49.2%

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

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $837,500. Sales above $1.0m represented 32% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $647,500. Sales above $1.0m represented 15% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   0.6%   4.8%
  $351,000 – $450,000   1.5%   2.5%
  $451,000 – $650,000   5.8% 26.8%
  $651,000 – $999,000 49.8% 44.0%
  $1.0m – $1.999m 35.5% 19.4%
  $2.0m plus   6.8%   2.5%
Frankton home coming to the market Sept 1st.

Frankton home coming to the market Sept 1st.

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   4.4% 11.0%
  $351,000 – $450,000    3.6% 11.5%
  $451,000 – $650,000 16.4% 28.6%
  $651,000 – $999,000 43.3% 33.9%
  $1.0m –      $1.999m 27.0% 13.2%
  $2.0m plus    5.3%   1.8%

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   2.7% 27.8%
  $200,000 – $299,000 14.6% 31.3%
  $300,000 – $499,000 53.4% 21.7%
  $500,000 – $749,000 15.o%   5.2%
  $750,000 – $999,000   8.8% 11.4%
  $1.0m – $2.0m   5.5%   2.6%

 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 Region rose 15% compared to June 2015, with sales up 10% in Queenstown. Compared to May, sales volume fell 29% overall with sales falling 28% in Queenstown and 31% in Central. On a seasonally adjusted basis sales fell 10% in June.

The median price across the region rose $217,550 (+42%) compared to June 2015 to reach another record high. Prices rose 27% in Central and 26% in Queenstown. Compared to May 2016 the median price rose $22,800 (+3%) with prices rising 4% in Queenstown but falling 8% in Central. On a seasonally adjusted basis the median price increased 4.8% in June.

The number of days to sell eased by five days compared to May, from 33 days to 38-days in June. Over the past 10-years the average number of days to sell in June across the region has been 59-days.

REINZ Regional Director-Gail Hudson commented—The median price across the region continues to rise in no small part to the rise of auctions and the shortage of available properties for sale, which remain at very low levels compared to the level of demand. While not traditionally an option for vendors, auctions are now far more commonplace, with over 23% of sales over the past five months by auction.”

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 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- June 2016 Jan– June 2015 Variance +/-
Residential Dwellings (RD) 294 sales  230 sales  +27.8%
RD Median Sell Price $910,000 $738,000 +23.3%
Apartments (A) 53 sales  55 sales -3.6%
A Median Sell Price  $550,000 $415,000 +32.5%
Units (U) 52 sales  60 sales -13.3%
U Median Sell Price $565,000 $467,500 +20.8%
Townhouses (TH) 20 sales  24 sales -16.6%
TH Median Sell Price  $650,500 $614,250 +5.9%
Residential Sections (RS) 157 sales  79 sales +98.7%
RS Median Sell Price  $390,000 $245,000 +59.1%
Rural (R) 48 sales  27 sales +77.8%
R Median Sell Price $1,175,000 $940,000 +25.0%
Total Sales Numbers 624 sales  475 sales +31.3%
Value of Sales $ $549,971,921 $348,766,122 +57.6%

January – June 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 30.0% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $645,000. Sales above $1.0m represented 14.9% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January- June 2016 comparing same period Year-to-date 2015\

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   0.3 %   4.5%
  $351,000 – $450,000   2.0%   3.0%
  $451,000 – $650,000   6.1% 28.8%
  $651,000 – $999,000 50.6% 42.1%
  $1.0m – $1.999m 34.5%  18.6%
  $2.0m plus   6.5%   3.0%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   5.0% 10.0%
  $351,000 – $450,000   3.3% 12.2%
  $451,000 – $650,000 16.9% 29.5%
  $651,000 – $999,000 43.7% 33.5%
  $1.0m –      $1.999m 26.4% 12.7%
  $2.0m plus   4.7%   2.1%

 

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   3.2% 28.3%
  $200,000 – $299,000 14.7% 34.6%
  $300,000 – $499,000 53.5% 21.8%
  $500,000 – $749,000 15.9%   2.5%
  $750,000 – $999,000 17.0%   8.9%
  $1.0m – $2.0m   5.7%   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 2016

REINZ Commentary—- Sales volume for the Central Otago lakes Region rose 35% compared to May 2015, with sales up 57% in Queenstown and 17% in Central. The median price across the region rose $202,000 (+40%) compared to May 2015 to reach another record high.

The number of days to sell improved by three days from 36-days in April 2016 to 33-days in May. Compared to May 2015 the number of days to sell improved by 24-days. Over the past 10 years the average number of days to sell in May across the region has been 66-days.

REINZ Regional Director- Gail Hudson commented that “The significant jump in prices that occurred in March has been further consolidated in May. There are fewer first home buyers active in the market, but more investors. The number of properties available for sale has fallen with a drop of more than 50% in the past six months helping explain the lift in the median sell price.”

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 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 –May 2016 Jan –May 2015 Variance +/-
Residential Dwellings (RD) 245 sales  190 sales  +28.9%
RD Median Sell Price $902,000 $735,000 +22,7%
Apartments (A) 43 sales  43 sales n/c
A Median Sell Price  $570,000 $400,000 +42.5%
Units (U) 45 sales  50 sales -10.0%
U Median Sell Price $562,500 $462,000 +21.7%
Townhouses (TH) 18 sales  24 sales -25.0%
TH Median Sell Price  $654,500 $614,250 +6.5%
Residential Sections (RS) 129 sales  61 sales +114.8%
RS Median Sell Price  $385,000 $280,000 +37.5%
Rural (R) 34 sales  25 sales +36.0%
R Median Sell Price $1,250,000 $920,000 +35.8%
Total Sales Numbers  514 sales  393 sales +30.7%
Value of Sales $ $441,135,482 $283,802,682 +55.4%

January – May 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 31.6% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $630,000. Sales above $1.0m represented 14.3% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   0.4%   4.7%
  $351,000 – $450,000   2.0%   2.6%
  $451,000 – $650,000   6.1% 30.0%
  $651,000 – $999,000 50.2% 42.3%
  $1.0m – $1.999m 35.5% 16.8%
  $2.0m plus   5.8%   3.6%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   5.2% 10.0%
  $351,000 – $450,000   3.4% 12.9%
  $451,000 – $650,000 16.8% 30.2%
  $651,000 – $999,000 43.0% 32.8%
  $1.0m –      $1.999m 27.3% 11.7%
  $2.0m plus   4.3%    2.4%

REINZ Reported sales by price of Residential Sections.

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

Lot-4 For Sale

Lot-4 For Sale

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   3.8% 27.8%
  $200,000 – $299,000 16.2% 26.3%
  $300,000 – $499,000 52.0% 26.3%
  $500,000 – $749,000 16.2%   4.9%
  $750,000 – $999,000   6.4%   11.4%
  $1.0m – $2.0m   5.4%   3.3%

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 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.

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES-First-Quarter 2016

REINZ Regional Director, Gail Hudson commented that –“Sales volume for Central Otago Lakes Region rose 5% compared to March 2015, with sales rising 21% in Queenstown but falling 8% in Central. Sales for the region were the highest for March since 2002, fourteen years ago. The number of days to sell across the region improved from 41-days in February to 31-days in March. Over the past 10 years the average number of sell days in March across the region has been 56-days.

The Central Otago Lakes region has seen a significant lift in the median sell price, especially for Queenstown, where the median sell price has risen $175,000 over the past 12-months, along with a 21% increase in the number of sales.”

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 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 –Mar 2016 Jan –Mar 2015 Variance +/-
Residential Dwellings (RD) 116 sales  108 sales    +7.4%
RD Median Sell Price $906,000 $682,900 +32.6%
Apartments (A) 21 sales  27 sales -22.2%
A Median Sell Price  $487,000 $425,000 +14.5%
Units (U) 25 sales  30 sales -16.6%
U Median Sell Price $550,000 $440,000 +25.0%
Townhouses (TH) 13 sales  18 sales -27.7%
TH Median Sell Price  $654,000 $614,250    +6.4%
Residential Sections (RS)   74 sales  36 sales +105.5%
RS Median Sell Price  $387,500 $223,500 +73.8%
Rural (R) 16 sales  16 sales   n/c
R Median Sell Price $1,312,500 $775,000 +69.3%
Total Sales Numbers  265  sales  235 sales +12.7%
Value of Sales $ $215,325,756 $156,704,750 +37.4%

January & March 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 30.8% of all sales.
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $598,000. Sales above $1.0m represented 13.1% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   –   5.5%
  $351,000 – $450,000   2.5%   2.8%
  $451,000 – $650,000   6.8% 33.3%
  $651,000 – $999,000 48.4% 38.9%
  $1.0m – $1.999m 39.8% 17.7%
  $2.0m plus   2.5%   1.8%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   8.0%   9.8%
  $351,000 – $450,000   4.0% 15.9%
  $451,000 – $650,000 16.0% 31.3%
  $651,000 – $999,000 41.3% 30.0%
  $1.0m –      $1.999m 29.0% 12.0%
  $2.0m plus   1.7%   1.0%

REINZ Reported sales by price of Residential Sections.

January- March 2016 comparing same period Year-to-date 2015\

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   5.4% 44.4%
  $200,000 – $299,000 21.6% 19.6%
  $300,000 – $499,000 37.8% 13.8%
  $500,000 – $749,000 21.8%   5.7%
  $750,000 – $999,000   9.4% 13.8%
  $1.0m – $2.0m   4.0%   2.7%

 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: Year-to date 2016

REINZ Chief Executive, Colleen Milne commented that “the Central Otago Lakes market remains strong with a significant lift in the number of sales by auction and auction prices generally exceeding vendor expectations. A new record for auction sales was set for the region in February with 27% of sales by auction. The number of listings remains very tight with a 50% drop in inventory compared to February last year. Over the past 10 years the average number of days to sell across the region has been 58-days and February 2016 was 41-days.”

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 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 –Feb 2016 Jan – Feb 2015 Variance +/-
Residential Dwellings (RD) 58 sales  66 sales  -12.1%
RD Median Sell Price $915,000 $677,500 +35.0%
Apartments (A) 15 sales   19 sales -21.0%
A Median Sell Price  $487,500 $415,000 +17.4%
Units (U)  14 sales  22 sales -36.2%
U Median Sell Price $557,550 $432,500 +28.9%
Townhouses (TH) 7 sales  9 sales -28.5%
TH Median Sell Price  $654,000 $480,000 +36.2%
Residential Sections (RS)  42 sales  18 sales +133.0%
RS Median Sell Price  $360,000 $303,750 +16.9%
Rural (R) 14  sales  8 sales +75.0%
R Median Sell Price $1,675,000 $695,000 +141.0%
Total Sales Numbers  150 sales  142 sales +5.6%
Value of Sales $ $124,212,787 $94,782,600 +31.0%

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

  • 2016 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $782,000
  • 2015 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $552,500

 REINZ Reported sales by price of Queenstown Residential Homes

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000 n/a   6.0%
  $351,000 – $450,000   5.2%   4.5%
  $451,000 – $650,000   3.6% 31.8%
  $651,000 – $999,000 48.1% 36.5%
  $1.0m – $1.999m 37.9% 18.2%
  $2.0m plus   5.2%   3.0%
  • January and February 2016 the number of residential home sales above $1.0m presented 43% of the total
  • January and February 2015 the number of residential home sales above $1.0m represented 21.2% of the total

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$350,000   11.7%   11.2%
  $351,000 – $450,000     4.2%  19.8 %
  $451,000 – $650,000   14.8%   29.3%
  $651,000 – $999,000   38.4%   26.7%
  $1.0m –      $1.999m   27.6%  11.3 %
  $2.0m plus     3.2%    1.7 %

 

REINZ Reported sales by price of Residential Sections.

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

Price Band % of Total Sales 2016 % of Total Sales 2015
<$199,000   4.7% 33.3%
  $200,000 – $299,000 26.1% 11.1%
  $300,000 – $499,000 40.6% 27.7%
  $500,000 – $749,000 16.6%   5.5%
  $750,000 – $999,000   7.3% 22.4%
  $1.0m – $2.0m   4.7%

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.

 

The numbers say it all

With intense focus on Queenstown family homes for sale in the $650,000 -$850,000 price range it’s easy to forget the sales activity beyond the $1.0m price point. These numbers even surprised me.

  • January and February 2016 the number of residential home sales above $1.0m presented 43% of the total.
  • January and February 2015 the number of residential home sales above $1.0m represented 21.2% of the total.
  • Data Source: REINZ sales does not include apartments, units and townhouses

It’s really great when our vendor customers get that first impressions count when it comes to the presentation of their homes for sale. Of course it helps as in this instance if the owners were already house proud and that giving the lawns a once over and cleaning the windows was all it took to get market ready.

1 Cone Peak Close is neat-as-a- pin and represents a family home worth the wait that you won’t have to pay a million dollars to move on in.

12

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES-Calendar Year 2015

Firstly it’s appropriate to look back on 2015 to put the year in context; plus how has 2016 kicked off with the latest REINZ sales reported for the month of January.

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 2015 comparing 2014.

□ Report compares aggregated sales for the calendar year 2015 v 2014

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

Property Type Jan –December 2015 Jan –December 2014 Variance +/-
Residential Dwellings (RD) 454 sales 342 sales 32.7%
RD Median Sell Price $740,000 $661,000 11.9%
Apartments (A) 111 ales   94 sales 18.0%
A Median Sell Price $428,000 $447,500 -4.3%
Units (U) 118 sales 85 sales 38.8%
U Median Sell Price $490,000 $435,000 12.6%
Townhouses (TH) 40 sales 35 sales 14.2%
TH Median Sell Price $665,000 $465,000 43.0%
Residential Sections (RS) 242 sales 189 sales 28.0%
RS Median Sell Price $280,000 $265,000    5.6%
Rural (R) 67 sales 56 sales 19.6%
R Median Sell Price $860,000 $977,500 -12.0%
Total Sales Numbers 1032 sales 801 sales 28.8%
Value of Sales $ $723,112,455 $527,889,404 36.9%

 

REINZ Reported sales by price of Queenstown Residential Homes

Year-to-date January- December 2015 comparing calendar year 2014.

Price Band % of Total Sales 2015 % of Total Sales 2014
<$350,000 4.8% 5.8%
$351,000 – $450,000 7.7% 6.8%
$451,000 – $650,000 23.3% 35.7%
$651,000 – $999,000 40.7% 31.3%
$1.0m –     $1.999m 20.1% 14.9%
$2.0m plus 3.4% 5.5%

REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

Year-to-date January- December 2015 comparing 2014.

Price Band % of Total Sales 2015 % of Total Sales 2014
<$350,000 10.8% 13.7%
$351,000 – $450,000 12.8% 14.3%
$451,000 – $650,000 27.8% 33.9%
$651,000 – $999,000 31.3% 24.2%
$1.0m – $1.999m 14.7% 10.4%
$2.0m plus 2.8% 3.5%

REINZ Reported sales by price of Residential Sections.

Year-to-date January – December 2015 comparing 2014.

Price Band % of Total Sales 2015 % of Total Sales 2014
<$199,000 19.4% 33.9%
$200,000 – $299,000 37.2% 24.4%
$300,000 – $499,000 21.2% 20.2%
$500,000 – $749,000 9.9% 12.6%
$750,000 – $999,000 8.6% 6.3%
$1.0m – $2.0m 3.7% 2.6%

January 2016: Just how has this year started?

REINZ spokesperson for Queenstown Mr Kelvin Collins commented—

“The monthly median sale price continues to rise and reached another record of $798,500 for the month of January 2016. The median price is being pushed up by a shortage of listings at the entry level of the market with the lowest value house sale last month at $670,000 for a small 3 bedroom property in Sunshine Bay.

Due to the shortage of houses for sale potential buyers are looking at the alternative of buying sections and building. Sections continue to sell well with 25 sold during the month of January.

There were 14 house sales over $1 million accounting for 35% of the market. This is up from 25% of the market in December 2015.

Managed apartments were also in demand. These have improving returns due to the high occupancy levels over the summer which we expect to continue in the foreseeable future with no new hotels or large apartment complexes on the horizon.”

 Latest Sales by Property Type- January 2016 comparing January 2015

  Type January 2016 January 2015
Number of sales Residential Dwellings 21 23
  Apartments   8 4
  Units   9 11
  Townhouses   1 4
  Sections / Vacant 25 9
  Rural Lifestyle   5 1
  Total sales 69 52
  Total value ($) of sales $57,210,687 $33,958,250

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.