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.

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%

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.

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.

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

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.

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.

 

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.