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The Market

It's been a strong year - what will 2017 bring?

Our booming tourism sector has fulled the near-disappearance of the shoulder season and the continued influx of people has contributed to a record high demand for property.

 

This was reflected in the rising prices in Queenstown as the year culminated with a $923,500 median price for dwellings - a huge 69 per cent increase on the same period in 2015.

 

This significant surge in value is hardly news to anyone who has been following our market closely.

 

But what can we expect from 2017?

 

Our prediction is that we'll continue to see a rise in property value but it will be steady, long and a more controlled growth. A contributing factor for this assertion is the amount of commercial construction planned for 2017 and the benefits we'll begin to reap as they are gradually completed.

 

Frankton's on the rise with several new projects in the pipeline: a $40m convention centre, the $85m five-storey Wyndham Garden Hotel with 55 residential units (subject to consent) and the $22m eastern access road behind the airport.

 

Surrounding areas are also growing, with the intended building of two retirement villages, the construction of the $22m Kawarau Falls Bridge and ongoing commercial building at Five Mile.

 

This positive growth increases demand so we're on the look-out for more property. The strong seller's market and our outstanding auction success over the year put us in an excellent position to help you achieve fantastic results.

 

So if you're thinking of making a real estate move in 2017, we would love to hear from you.

 

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