Suburban prices raising the roof

A Queenstown real estate agent’s made the first $5 million-plus sales in two established local suburbs — Frankton and Lake Hayes Estate.

Walker & Co Realty’s Hamish Walker, with colleague Marc Hamilton, recently concluded a $5m-plus sale at an undisclosed Frankton address, which is thought to have easily surpassed the previous record.

The property’s believed to contain a five-bedroom, architecturally-designed home with a lake view.

In turn the $5.25m Lake Hayes Estate sale, for a slightly-elevated property, beat the next-highest sale of $3m.

Walker says last month he achieved the second-highest sale at Shotover Country of $1.8m, following the $1.85m record he set about a year ago.

He notes Frankton prices have risen almost 20% over the past year, ‘‘and most properties [for sale] are getting multiple offers’’.

‘‘I think the market’s seen Frankton has been under-valued for quite a long time.

‘‘It’s really central, and as Queenstown grows, it’s only going to become more central.”

[email protected]

- Advertisement -