Queenstown's Millbrook Resort reported a record $8.8 million in residential resales in December.
Bucking the national trend of mortgagee sales, price reductions and a well-publicised slowdown in activity, three sections, two Millbrook Cottages and a luxury Fairway home were all sold, Millbrook Property and Development manager Ben O'Malley said.
"The sections were all resales, where people paid between 2% to 20% over and above the price they [the properties] originally sold for."
Even the previously highest priced site went for more the second time around.
Mr O'Malley said he was thrilled with the recent result but acknowledged it was harder to find buyers in the current economic climate.
He said the sales were "robust confirmation" buyers from around New Zealand and overseas saw proven value in the resort.
"We have a consistent track record of delivering quality homes over a 20-year period and now that the new development is well advanced, prospective purchasers can see there's been no compromise in quality.
"They can literally see the amount of money that's gone into infrastructure, a new golf course, kilometres of stunning stonework and thoughtful landscaping.
"It gives them the confidence to invest in a mature resort with a master plan for future development that brings together the best in golf course, landscape and urban design."
Millbrook was "not in the business of predicting any turnarounds in the market" or anticipating challenges over the next year, but Mr O'Malley said there were some positive influences working in its favour.
Those included lower interest rates and the current exchange rates, which were starting to attract more overseas investors, whereas over the past few years sales had predominantly been to New Zealanders.
