The exterior of 68 Hunter Rd, Dalefield, near Coronet Peak,
one of the few luxury ski houses in Queenstown to sell for
more than $4 million recently, contrary to claims in new
A Queenstown luxury real estate agent says research
claiming prices for luxury Queenstown ski homes rose by almost
18.6% in the past 12 months is ''a little optimistic''.
New Zealand Sotheby's International Realty co-owner Mark
Harris, of Queenstown, said the resort's luxury property
market had seen ''a gradual pick-up'' in the past six months,
but sales were nowhere near those seen in the boom of 2007.
Mr Harris was asked to comment on research, commissioned by
Knight Frank, which showed prices for luxury ski homes in
Queenstown rose almost 19% in the past 12 months - a rate of
growth second only in the world to California's South Lake
Knight Frank managing director Layne Harwood said Swiss ski
resorts once topped the rankings, followed by the French Alps
mid-table, then North American and Russian resorts.
''In the 2013 year, however, historical regional rankings
have less relevance as growing buyer interest in individual
ski resorts like Queenstown change the old world order,'' Mr
Inside the house. Photos by New Zealand Southby's
However, Mr Harris said there had been only two sales of
residential properties valued at more than $3 million in
Queenstown in the past 12 months and both were bought by New
Zealand buyers. This was compared to the heights of six sales
for property valued above $3 million in peak years.
''There's been an improvement in the market, but buyers are
still being very prudent in their decision making and we're
not hitting record levels, that's for sure,'' Mr Harris said.
The property category ''luxury'' was also vague in its
''The secondary, holiday home market is largely a
discretionary spend, so I think that the secondary market
around the place still hasn't quite reached the same levels
as what the cities, such as Auckland and Sydney, have,'' Mr
''Vendors need to be very accurate with their pricing to
achieve a sale.
''You could say the majority of sales are happening within 5%
either side of registered valuation.
''I would say we'll continue to see a gradual increase in the
market in the new year, depending on what happens with
interest rates because currency plays a role, with Queenstown
being a largely international market at times.''