The Market

In June, the Queenstown property market saw 43 sales, comprising 36 dwellings and 7 sections, with an average house sale price of $1,677,538 and an average of 65 days on the market. The total sales volume for the month was $66,514,833, significantly lower than the previous four months, each exceeding $100,000,000. 8 properties were sold over $2,000,000 with the highest sale price being $5,090,000. First home buyers were the most active group, contributing to the market‘s resilience despite a seasonal slowdown. Compared to June 2023, which had 47 sales at an average price of $1,311,091, this year saw fewer transactions but indicated a continued steady increase in property prices in the region, reflecting a long-term trend in the Queenstown area despite fluctuations elsewhere in the country. With 381 properties currently listed on Trade Me Property in the area, the market remains competitive, offering numerous opportunities for buyers and sellers.

ARROWTOWN MARKET
The Arrowtown market saw just two sales in June 2024, with an average selling price of $2,012,500.

Disclaimer: Every precaution has been taken to establish the accuracy of the information contained in this report but does not constitute any representation by the publisher or licensee, interested parties must rely on their own inquiry. This report includes sales statistics up to 30 June 2024, sourced from REINZ.