Seven-year Wakatipu real estate high


Wakatipu residential sales have had the best July since 2006.

There were 62 sales compared to 43 in July 2012. 

Local Real Estate Institute spokesman Kelvin Collins says there was good demand from first-home buyers for property under $500,000.

Interest in cheaper managed apartments for use as winter holiday homes by Australians and northern New Zealand residents is also high, Collins says.