Buyer inquiry increased from the baseline set over the past three years of recessionary market and there was a noticeable shift in buyer attitude, REINZ spokesman Adrian Snow said.
"Buyers are now ready to act and purchase once they have found a suitable property, rather than delay action and spend time in the market place before purchasing, as they have been doing through the last three years.
"There is certainly a shift in the marketplace occurring and it is carrying through in to July's activity."
Mr Snow said the shift in buyer sentiment was not showing up in the sales statistics, with no significant increase in recorded sales being shown.
"Explanations may be that purchases are yet to become unconditional and be recorded in the sales statistics, or may be the Queenstown's market is now following the Auckland market and sales activity is being retarded by decreasing stock levels.
"All real estate offices are recording lower stock levels of properties."
It appeared as though the recessionary phase of the market was being left behind and the early phases of growth were being experienced, he said.
June 2011 recorded 35 dwelling sales compared with 35 dwelling sales for May 2011 and 43 for June 2010 (-19%). June 2011 recorded 13 section sales compared with 10 section sales for May 2011 and compared against five for June 2010.
Value of dwelling plus section sales for June 2011 was $24,527,000 compared with $24,566,500 for May 2011 and being 6% up on June 2010's $23,191,750.
Median sale price of dwellings for June 2011 was $535,000 being 7% up on the $500,000 recorded for both May 2011 and June 2010.
A big shift in median days to sell has occurred for dwellings, with 42 days for June 2011 being 47% down on May 2011's 79 and 40% down on June 2010's 70.
"The decreasing median days to sell does reflect a shorter time on the market for most properties and reflects real estate agents' sentiments that buyers are acting more quickly and that stock levels are decreasing," Mr Snow said.
