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Queenstown Property Market Report |
| | Queenstown's buoyant
property market is fuelled by strong demand both in New Zealand and overseas for
a stake in this fast growing tourist resort. Some land values have doubled in
Queenstown-Lakes in the past three years and statistics show a trend of increasing
sales with unprecedented prices being paid for quality sites in quality locations.
A growing trend is for overseas buyers, particularly ex-pat Kiwis, to
purchase properties unseen via the Internet to ensure their investment. The fast
pace of growth and the increasing international focus on Queenstown is also reflected
in tourism numbers. Latest Tourism New Zealand figures show a 12 per cent increase
in guest nights against the national average of just under 10 per cent. Currently
the best performing overseas markets are Australia, Korea and Japan with consistent
growth in the US and UK sectors. Queenstown has become a destination choice with
so many offshore residents having a second home in the town.
While tourism
is the blue chip industry other industries are developing in tandem. Film making
is having its impact and the resort is the centre of a vibrant boutique wine growing
industry. Vineyards throughout the Central Otago region are attracting international
recognition and the reputation of local Pinot Noir is well established.
Confidence is riding high in Queenstown and property observers predict the current
trend will continue, underpinned by affordable and stable interest rates, making
real estate in Queenstown a first choice option for investors. Get
a piece of the action.
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