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Queenstown Lakes / Central Otago Property Pule factsheet – May 2012

Posted on: June 18th, 2012 | Filed in Queenstown Lakes Property Market Factsheet

The Queenstown Lakes district region property pulse factsheet for May 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales across the Queenstown Lake and Central Otago region at 124 rose sharply on a seasonally adjusted basis in May and were up 32% as compared to a year ago. The inventory of unsold houses on the market at 85 weeks rose slightly but still remains well below the long-term average of 101 weeks of equivalent sales.

Median sales price of properties sold in the Queenstown Lakes and Central Otago region at $417,000 was up 4% as compared to a year ago. The asking price expectation of new listings rose 9% as compared to a year ago at $591,895.

The level of new listings coming onto the market in May at 280 was up as compared to prior month and up 8% as compared to a year ago.

 

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