February had the highest sales activity in the Wakatipu in
six years, with 83 properties sold, including 22 sections.
Real Estate Institute of New Zealand Queenstown spokesman
Kelvin Collins said market confidence continued to be high
over the summer months, with many properties attracting
multiple offers and ''good bidding'' at auctions.
''The initial recovery of the market started last year with
demand for cheaper homes but there has been a lift in price
sector this year and good demand from local residents buying
family homes between $500,000 and $650,000.
''A feature of February sales was demand for sections at Lake
Hayes Estate and Jacks Point from local residents looking to
''This reflects a tightening of listings for family homes,
and purchasers looking to build as an option to buying