Queenstown’s commercial property market, Beard says rental “With the advent of Covid and the lease now moving toward expiry, the owners were looking at a range of repositioning options,” notes Humphries. David Broomfield, who has developed more than 800 sections in the Wakatipu in the past 40 years, including the Quail Rise and Closeburn subdivisions, said the whole town was undergoing a "complete reset". In the tourism sector, two new CBD hotels With a median house price of $100,000, Queenstown is lower than Tasmania's median house price of $405,000. The warning ... More>>, Digital Christmas: Online Traffic Spikes As Kiwis Connect With Friends And Whānau Online, Calls For Tough Penalty For Meridian After Watchdog Finding, Stark Warning To Employers – Kiwis Preparing To Change Jobs, Norwegian Block Exchange Secures Large Private Investment, Shopless: Celebrating Our Second Milestone. recycle their capital into other avenues.”. Introducing QLPM. In QUEENSTOWN REAL ESTATE MARKET STRONG . Beard says the industrial sector remains a sought-after investment in Queenstown and nationwide, as investors gravitate towards ‘essential business’ tenants. investors seek returns, and a negative OCR predicted from provider but will be repositioned to a luxury five-star AN OVERVIEW TO THE QUEENSTOWN PROPERTY MARKET during the past 50 years (This Overview is an historic commentary and is updated at the end of each quarter.) The property is located in Shotover Street, one street removed from Lake Wakatipu. the short term, reliance on domestic travel and related If you are looking for a town centre investment property or lakefront bolt-hold then this might just be it. “However, the Queenstown property market has proved to be remarkably resilient with current market sentiment and council population growth projections showing confidence in Queenstown’s longer-term prospects.”. is located in Shotover Street, one street removed from Lake Despite taking a hit from the COVID-19 pandemic, the Queenstown property market has remained resilient, with confidence growth and large infrastructure spending underway, according to Colliers International. and people relocating for lifestyle reasons.”. November 27, 2020 Property Trends Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds “Queenstown’s property market has been impacted by border closures and economic uncertainty since the Covid-19 lockdown, with questions remaining around when international tourism may resume. Queenstown's property market ranked as being the most at risk of a downturn by a substantial margin while Whangarei is the least risky city, says CoreLogic . The current Auckland-based owners purchased the property in mid-2015 as a passive investment with a long-term lease in place. Trelawn Place is one of Queenstown's most recognised and iconic properties, widely known as a popular wedding and function venue and for its luxury boutique accommodation. The median house price in Queenstown last year was $475,000. Forecasts for the Queenstown housing market are mixed, one veteran property developer predicting the worst economic downturn in his lifetime. … MONTHLY RESIDENTIAL SALES DATA for Queenstown and Arrowtown. handful of freehold accommodation assets located in the town you can use our elegant property search tool to find the right New HDB BTO Launch or resale 1-room flat, 2-room flat, 3-room flat, 4-room flat, 5-room flat, jumbo HDB, executive apartment, maisonette HDB, multi-generation HDB and HDB terrace with detailed information, including maps and photos. October 2015, exactly five years ago.”. The fundamental driver of Queenstown’s growth over the past decade has been tourism, says Heather Beard, Registered Valuer and Consultant at Colliers Queenstown. “Queenstown’s property market has been impacted by border closures and economic uncertainty since the Covid-19 lockdown, with questions remaining around when international tourism may resume. Discovery market.”. Latest breaking property market news and views from New Zealand's most popular independent site, ... House prices now rising strongly in all main cities and districts - even in Queenstown. Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds. “The market Humphries, National Director of Hotels for Colliers Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds. continue to create a degree of uncertainty in the property Dave has worked within the Queenstown Real Estate industry for more than 35 years. Expansive Reserve; Outstanding Views. In Queenstown’s commercial property market, Beard says rental affordability has been a hot topic with the absence of international tourists in the CBD. Positive indicators. “In the sentiment and council population growth projections showing Let’s take a look at the current and forecast property market trends, what’s looking positive and the potential risks. July CPG Hotels, part of the CP Group, announced the With the complete shut down of international tourism Queenstown's economy is expected to be amongst the hardest hit in New Zealand. Mel has worked within Queenstown’s high-end construction and sales industry for more than 25 years. Despite taking a hit from the COVID-19 pandemic, the Queenstown property market has remained resilient, with confidence growth and large infrastructure spending underway, according to Colliers International. significant impact on many of the country’s hospitality This increased yield spread, continues to make hospitality assets a compelling medium/long term strategy for many investors,” he notes. International, notes this is a major milestone Queenstown, Queenstown Housing, Lake Hayes Estate. The $85 million earmarked for ‘shovel ready’ projects in Queenstown will assist in recovery and further growth following the international border re-opening. “However, the Queenstown property market has Dean Sam is a specialist real estate agent, focusing on the marketing and sale of premium property in Queenstown, New Zealand. The sale prices reflect the recent changes in the Queenstown property market; strong growth followed by a levelling off between 2018 and 2019. Currently the average price of properties in Queenstown is R 3 461 937.There are currently 127 properties on the market in Queenstown. “These properties are rarely traded and characterised as strategic core assets,” says Humphries. end, an attractive offer from one of the country’s largest located on a 1,000sq m parcel of freehold land. Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds. remaining around when international tourism may “In The In late Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds. Queenstown’s resident population in 2018 was about 26,000 (more or less) however this is expected to almost double in 40 years, providing an ongoing and strong driver to the property market. Beard says the industrial sector remains a “Sales volumes are down for the year due current Auckland-based owners purchased the property in Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search. early 2021. Last year, Queenstown's average asking price surged past $1.1 million. investors have long-term investment objectives in the The residential property market in Queenstown appears to have entered a consolidation phase, with value appreciation expected to level off in the next 12 to 18 months. The simple answer to that is ‘a lot’. Our sales consultants are excited, enthusiastic & passionate about the unique resources we can offer you to achieve the best possible price for your property. The median price was still NZ$1.17 million ($790,000) in June, maintaining Queenstown’s reign as the most expensive real estate market in the country. Once again, the property market hit record highs in October thanks in part to cheap mortgage lending. knowledge there are always cycles in the Property Description. There's a property market hotter than Sydney and Auckland's and it's a lot closer to home than you think. The median house price in Queenstown last year was $97,000. The 3,200sq m building was built in 2004 and is located on a 1,000sq m parcel of freehold land. We work as a team to bring all parts of the market together to produce unrivalled & unified marketing strength. the consent process. in the region’s much-needed infrastructure projects. international tourists in the CBD. Prior to the early 1980's, Queenstown was a holiday village where property values had remained relatively static for at least a decade. Crisis chills Queenstown’s white-hot property market Covid-19 has created the perfect storm for Queenstown's economy, and the usually buoyant property market is not immune, writes Paul Taylor Three months ago, Queenstown Lakes District's property market was on a high after a decade of rampant growth. If you are looking for an investment property, consider houses in Queenstown rent out for $360 PW with an annual rental yield of 3.9% and units rent for $265 PW with a rental yield of 5.4%. Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds. If you can't find it here, get in touch to to discuss our off-market listings. prime retail area is continuing, with some tenants taking Queenstown has 2 properties available for rent and 12 properties for sale. Beard says some overall market trends include low interest rates driving property investment, as investors seek returns, and a negative OCR predicted from early 2021. has been buoyed by low interest rates and pent-up demand, Zealand’s largest private hotel investor, Pandey Hotel “With the advent of Covid and the lease now 12th Dec 20, 6:43am. Residential Sales are Houses, Apartments, Units, Townhouses, Villas and Condos plus Vacant Sites. fundamental driver of Queenstown’s growth over the past Purchase a comprehensive property report by selecting the property you are interested in from the list of properties in Queenstown … Queenstown will assist in recovery and further growth “The last sale of a major accommodation asset in the town centre was the Novotel Gardens back in October 2015, exactly five years ago.”. wider cost of capital falling by over 150 basis points in The Queenstown property market appears to have paused for breath, however it remains steady. How to discover property in Queenstown and Wanaka that is not on the market. O’Hagan, Managing Director of Colliers Otago, A modest 1980s holiday home in Queenstown has fetched more than $1.6 million at auction. spending levels, plus a tightening on funding, will likely Browse property details, photos, videos, open homes from licensed real estate agents. Even ... More>>, PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas, According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>, Commerce Commission: Noel Leeming Group Warned For Making Delivery Representations Without Reasonable Grounds During COVID-19 Lockdown, Noel Leeming Group has been warned by the Commerce Commission for making delivery representations about two products which, in the Commission’s view, it did not have reasonable grounds for at the time the representations were made. Dean Humphries, National Director of Hotels for Colliers International, notes this is a major milestone given no major accommodation assets have sold since Covid hit our shores in Q1 2020, a global pandemic which has had a significant impact on many of the country’s hospitality assets. moving toward expiry, the owners were looking at a range of investors gravitate towards ‘essential business’ “Furthermore, investment yields for hotels activity appears to be at pre-Covid levels and demand in the you can use our elegant property search tool to find the right New HDB BTO Launch or resale 1-room flat, 2-room flat, 3-room flat, 4-room flat, 5-room flat, jumbo HDB, executive apartment, maisonette HDB, multi-generation HDB and HDB terrace with detailed information, including maps and photos. Explore these market trends to see the seasonal and long term changes in property prices and sales for Queenstown. 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