Queenstown property sales up – and prices too

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Queenstown’s real estate market continues its healthy state according to newly-released sales figures.
There were 77 sales last month, comprising 57 dwellings and 20 sections, following 74 recorded in January.
“Agents are reporting good buyer demand across all sectors of the market,” local Real Estate Institute of New Zealand spokesman Kelvin Collins says. 

Collins says listings of entry-level property remain tight, increasing demand for new build property and cheaper sections. 

The median house price rose from $512,000 in January to $630,000 last month, reflecting increased activity in the family market and the shortage of property for sale under $500,000, Collins says. 

“Over the last six months there has been upward pressure on prices especially at the lower end of the market.”