"Inquiry levels seem to be picking up but buyers still need to know they are buying at the right price. This is not a time for setting records. If they think it is too dear, they are not interested," Mr Williams said yesterday, after the successful sale of 208 Brownston St.
The house was passed in at auction but sold privately, immediately after the auction ended, for its reserve price of $479,000, Mr Williams said.
The 1012sq m property had unobstructed views across the Wanaka showgrounds towards the lake.
The auction attracted about 40 people and the new owners, who were local buyers, intended to tidy it up and use it as a rental property, he said.
Mr Williams believed a price of $600,000 would have been achievable two years ago.
The rateable value of the property is $610,000.
"It was a well-placed property to bank for the future and buyers are taking advantage of the market to bank for the future," Mr Williams said.
Another auction being held today is at the Wanaka Yacht Club at 11am.
The property is two units from Wanaka Luxury Apartments, in Wynchwood La, and the sale is on behalf of the mortgagee, a bank.
Interest has been expressed from as far away as Poland, Mr Williams said.
