Real Estate Institute says million-dollar properties are doing well in Queenstown, but cheaper properties are not
Wednesday, April 20th 2005, 8:51AM
by The Landlord
Queenstown's million-dollar property market is looking strong.
However, Real Estate Institute Wakatipu president Richard Newman says the upsurge at the high end of the market is at the expense of cheaper properties.
He describes the $500-700,000 dollar bracket as a big dark hole at the moment.
But he says high sales in the million-dollar-plus market indicates good international interest in the resort, along with a number of people from Auckland, Wellington and Christchurch choosing to move there.
