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Entry-level going great guns By PHILIP CHANDLER Strong interest from locals in entry-level Queenstown property is flying in the face of predictions made in the wake of Covid last year. Local Bayleys managing director David Gubb says it was assumed there’d be a lot more pressure on this sector of the market due to job losses and the like. ‘‘The reality is, for time on the market and the prices being achieved, this sector is going better than any other, or just as well.’’ A good example, he says, is Hanley’s Farm, where his company’s sold more than 200 sections since last August, ...

Mega-auction tests market By PHILIP CHANDLER A Queenstown mega-auction next month’s being touted as a ‘headlight indicator’ for the upcoming state of New Zealand’s property market. The local Bayleys office is putting 27 residential properties on the block, including owner/ occupier residences, investment homes and sections, on February 12. A parallel’s being drawn when the same office auctioned 21 properties last May. As the first mega-auction in a regional centre following the Covid-19 lockdown, it was seen as a litmus test of the NZ market. On that occasion, many were surprised by...

Thursday, 21 January 2021, 6:31 am Two of the homes which sold under the auctioneers’ hammer at Bayleys Queenstown’s last mega one-day sell-down – 28 Myles Way which sold for $1.422million and 4 Banbury Terrace which sold for $950,000. Two of the homes which sold under the auctioneers’ hammer at Bayleys Queenstown’s last mega one-day sell-down – 28 Myles Way which sold for $1.422million and 4 Banbury Terrace which sold for $950,000. The 2021 state of New Zealand’s fizzing real estate market is set to be tested yet again in the Central Otago township of Queenstown – with the c...