Real estate activity in and around Queenstown and Wanaka remained strong last month, Real Estate Institute of New Zealand figures released yesterday showed.
Institute chief executive Colleen Milne said there was first-home buyer interest seen at Jacks Point and Bridesdale and investors focusing on high density land and hotel sites.
Central was subdued in comparison, although listings across the region remained in short supply.
The median price increased on an annual basis but fell in both Central and Queenstown in June compared with May.
Sales for the Central Otago Lakes region rose 24% when compared with the previous corresponding period but were down on the May figures.
The number of days to sell improved by seven compared with May, from 57 to 50. Over the past 10 years, the average number of days to sell in June across the region had been 61.
The median price in Otago rose $14,000, or 6%, compared with June last year, with prices rising 15% in Dunedin but falling across the rest of the region.
Compared with May, the median price fell by $18,000 (7%) with prices falling 17% in North Otago but rising 7% in South Otago.
Sales across the region rose 29% compared with June last year with sales rising 73% in South Otago to 26, 24% in Dunedin to 163 and 16% in North Otago to 43. But compared with May, sales fell 11% across the region.
The number of days to sell in Otago eased by two in June from 35 to 37.
Institute regional director Liz Nidd said buyers of all types continued to be active in the market.
The biggest constraint was insufficient new listings to meet buyer preferences.
As a result, vendor expectations were increasing.
Mrs Milne said the Southland market was seeing a small rise in the number of first-home buyers and generally steady investor activity.
Listings fell during the winter months, putting some upward pressure on vendor expectations.
The overall market tone was positive.
The median price across Southland rose $40,000 (24%) compared with last year, with a 75% increase in Gore and an 18% increase in Invercargill.
Compared with May, the median price was steady at $205,000, although prices rose 16% in Gore and fell 2% in Invercargill.
Sales rose 5% compared with June last year, with a 9% increase in Invercargill and a 4% fall in May.
Compared with May, sales fell 1%, with a 14% increase in Gore and steady sales in Invercargill.
It now takes 54 days to sell a house in Southland.
Nationally, the median house price fell $10,000 from May to June to $450,000.
In comparison with June 2014, the national median house price increased by $23,000, or 5.4%, with 10 regions recording increases.
Excluding the Auckland region, the national median price fell $9000, 2.6%, compared with May and was steady at $340,000 compared with June last year.
