Some are looking for holiday homes. Some are planning ahead for retirement. But increasingly, many are aged between 30 and 50 and are actively considering relocating to Queenstown because of the lifestyle the region offers.
In the past couple of weeks I have dealt with a young couple in their mid-30s, no kids, love mountain biking, the mountains and skiing. Moved from Australia to ‘‘get away from it all’’ and have a more peaceful life. Another couple around 45-50 with two kids in their early teens, looking for the lifestyle Queenstown offers.
For Queenstown, I see this as a positive development.
There is often a tendency to view overseas investment with suspicion, particularly when housing affordability is a topic of conversation. Australia’s recent tax changes have prompted many individuals to review where they hold their assets.
New Zealand, and Queenstown in particular, is increasingly being viewed as a stable and attractive destination for long-term property investment. You can see why.
Queenstown is only a three-hour flight from Sydney, Melbourne and Brisbane. You can leave Australia in the morning and be sitting beside Lake Wakatipu by lunchtime.
For many Australians, Queenstown offers something they simply do not have at home. While much of Australia swelters through long summers, Queenstown delivers four distinct seasons. The idea of spending winter somewhere cold, with snow-capped mountains on your doorstep, has enormous appeal.
But what has surprised me is the number of younger Australians making inquiries. These are not retirees looking for a holiday base. Many are professionals and business owners with young families who are seriously exploring a permanent move.
The Australians I’m speaking to aren’t just chasing a holiday destination. Many are looking for a different way of life.
When Australians invest in Queenstown, they are not simply purchasing property. They are bringing fresh capital into the region.
That capital often flows well beyond the initial purchase. In many cases buyers are building homes, undertaking renovations or funding development projects.
Every new build creates work for architects, engineers, surveyors, builders, electricians, plumbers, painters and landscapers. Local suppliers benefit from increased demand, while tradespeople enjoy greater certainty of workflow.
The economic impact does not stop there. Many Australian buyers spend extended periods in Queenstown each year. They use local restaurants, cafes, retail stores, tourism operators and professional services. They employ property managers, gardeners and maintenance contractors. The money they spend circulates through the local economy and supports jobs across multiple sectors.
I have also noticed that many Australians purchasing in Queenstown are already familiar with the area. They have visited for years, have family connections here or have owned property previously. Their decision to invest is often based on a genuine affinity for the region rather than pure speculation.
Of course, continued population growth and investment bring challenges. Infrastructure, housing supply and transport networks must keep pace with demand.
However, the answer is not to discourage capital from entering the region. The better approach is ensuring growth is managed effectively while recognising the significant economic benefits that investment can provide.
Queenstown’s success has always been linked to its ability to attract people, ideas and capital from outside the district. Tourism helped build the modern Queenstown economy, but property investment has also played an important role in creating jobs, supporting businesses and funding development.
The renewed interest from Australian buyers should be viewed through that lens.
People from around the world continue to see Queenstown as one of the most desirable places to live, work and invest. The growing number of Australians looking to make Queenstown home is another reminder of just how fortunate we are to live here.
• Hamish Walker is a former National MP and director-salesman of Walker & Co Realty, Queenstown.
