Interest in properties up slightly

The year has got off to a "positive start" in terms of properties, the latest Queenstown Real Estate sales report shows.

Real Estate Institute of New Zealand Queenstown spokesman Kelvin Collins said a 950sq m property at Queenstown Hill sold for $5.25 million, the highest price for a house in the resort for four years.

Two new houses on a lakefront section on Frankton Rd also sold for more than $2 million each. One of those contracts was negotiated early in the year but only recently went unconditional.

Mr Collins said the sales were a reflection of buyer inquiry "at the top end of the market" from both offshore and northern New Zealand residents.

January had also shown an increase in sales and value compared with the corresponding month last year.

"Real estate agents are reporting good buyer inquiry, although it is harder to get offers together with seller expectations above current buyer interest levels.

"The most active sector is still first home buyers and most banks have relaxed lending criteria making it easier for people renting to consider home ownership," he said.



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