In his report for September, Mr Collins said total value of sales was up 14%, indicating a stronger demand in "upper price brackets" with five house sales for prices of more than $1 million.
There was also good demand for quality sections, with five sales of sites more than $500,000.
"This demand may also be a reflection of a competitive building industry and availability of builders with buyers preferring to build rather than renovate an existing property," Mr Collins said.
"There has also been demand from offshore residents and expats securing a property now, with the idea of building later.
"There was an absence of Australian skiers buying town apartments towards the end of the month, which could be a reflection of a perception Queenstown was full because of the RWC or concerns about the global economy."
Listing activity increased slightly with spring - 90 properties were listed for sale in September - but stock levels could still be considered "tight", with generally reduced numbers of properties coming on to the market to replace properties sold, he said.
