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September, 2011 Realtors report a shortage of Wakatipu property listings going into spring with just 404 residential properties for sale, compared with the 553 on the market in May 2010 - almost 28% less.This figure excludes sections and houses on the market for more than three years. Real Estate Institute of New Zealand Queenstown spokesman Kelvin Collins said shortages were particularly evident in Arrowtown, as was traditional post winter, in the first home buyer market and for in-town Queenstown apartments, which are being snapped up by Auckland and Aussie buyers. There's a big demand in the $500,000 to $700,000 range.
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Queenstown Property Limited |
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