Property in demand

February had the highest sales activity in the Wakatipu in six years, with 83 properties sold, including 22 sections.

Real Estate Institute of New Zealand Queenstown spokesman Kelvin Collins said market confidence continued to be high over the summer months, with many properties attracting multiple offers and ''good bidding'' at auctions.

''The initial recovery of the market started last year with demand for cheaper homes but there has been a lift in price sector this year and good demand from local residents buying family homes between $500,000 and $650,000.

''A feature of February sales was demand for sections at Lake Hayes Estate and Jacks Point from local residents looking to build.

''This reflects a tightening of listings for family homes, and purchasers looking to build as an option to buying established homes.''

 

Add a Comment

 

Advertisement

OUTSTREAM