Steady as she goes

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New official figures show Wakatipu property sales chugging along steadily but unspectacularly. 

March recorded 40 dwelling sales and April 47 – about on par with what Real Estate Institute of New Zealand local spokesperson Adrian Snow calls “the benchmark of 45 dwelling sales per month” established over the past year. 

Median dwelling prices were $513,750 in March and $450,000 in April, with the latter dragged down by 13 apartments sold by a mortgagee. 

Section sales were the “stand-out statistics”, with nine going in March and 18 in April, Snow says. In particular, he highlights Jack’s Point sites after prices were “re-set” – meaning lowered – to meet local residents’ budgets.