Average house values in the Queenstown Lakes district have climbed 32.2% in the past 12 months.
New figures from state-owned valuer Quotable Value (QV) show average values in the Queenstown Lakes district climbed 32.2% in the past 12 months to $1,000,205.
QV spokeswoman Andrea Rush said the rise in Queenstown values was ''massive'', and came in spite of the Reserve Bank's latest round of loan-to-value restrictions which had led to a weaker-than-normal spring for house value rises across the country.
Queenstown values have risen 7.5% in the past three months, and are now 45% above the previous peak in late 2007.
