Queenstown price chill post-ban
Central Otago-Lakes District’s average asking price fell to $857,011 in November – which was an 18.9% fall as compared to October, according to Realestate.co.nz’s latest data.
New listings were also down (by 4.6%). There were 247 listings in November, as compared to 236 in October at the much higher average asking price of $1,057,019.
Realestate.co.nz spokesperson Vanessa Taylor says it could be that in the run up to the foreign buyer ban there was an influx of top end properties that owners were eager to get across the sold line.
Alternatively, vendors were testing the market and would have been open to a sale at the right price, she says.
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