The full Results For Queenstown Real Estate Statistics in August 2013

Date: 26th September 2013 by Tim Medland

As mentioned in our earlier article there has been a noticeable dip in sales for August 2012 compared to August 2013, from 51 sales to 42 this year. Bearing in mind that Real Estate numbers in Queenstown Lakes District can be easily distorted due to the small figures we are dealing with, this is not necessarily a worrying result. Looking at the five year average of 43 sales we are still on track. The 10 year average for August is 50, which reflects the boom years. So this year’s August may simply confirm that we are not going through another boom as opposed to what could be said about Auckland numbers.

Sales completed in August last year were also happening faster, 40 days in August 12 compared to 60 days this year. As we record the sales on settlement date rather than contract date, this is a true indication of the tendency for August 13. Again this bucks the trend so far but let’s wait for September before reading too much in it.

If we look at the numbers for residential sales for the 6 months to August 13 we are still ahead at 320 compared to 289 last year and 244 for the same period the year before. This number shows a continued positive trend for Queenstown. Now to the 12 months to August 13: Sales were up by 90, from 527 last year to 617 this year, and last year was already up by 57 sales compared the previous year.

The capital value of sales for residential sales for 2013 is only slightly up compared to last year, at $254.3M compared to $252.1M capital value for last year and $201.0M for the previous year.

However the one number that we need to watch, as it shows a different trend for Queenstown Real Estate, is the median sale price for August 13: at $420,000 compared to $525 in July this year, as it could indicate a shift in types of investors in Queenstown, or a shift in the type of investments they are prepared to make.

As mentioned in our previous article about August, direct sales from developers (not included in the above statistics) can be interesting to watch as they give you a good indication of what “niche” investors are looking for. Why is it worth looking at? Because a small group of investors can often lead the pack and generate trends. For a good example cross over to www.residencedulac.co.nz

Our source for Statistics is queenstownrealestate.co.nz

Posted in: Statistics