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Queenstown Lakes / Central Otago Property Pulse factsheet – November 2011

Posted on: December 19th, 2011 | Filed in Queenstown Lakes Property Market Factsheet

The Queenstown Lakes district region property pulse factsheet for November 2011 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 85 rose on a seasonally adjusted basis in November and were up 13% as compared to a year ago. The inventory of unsold houses on the market at 105 weeks rose slightly but still remains in line with the long-term average of 105 weeks of equivalent sales.

Median sales price of properties sold in the Queenstown Lakes and Central Otago region at $405,000 was down 4% as compared to a year ago, this continues a steady fall in prices through the year. The asking price expectation of new listings fell by 13% as compared to a year ago at $507,028.

The level of new listings coming onto the market in November at 293 fell as compared to prior month and was up just 8% as compared to a year ago.

 

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