The Market

The Queenstown property market continued to demonstrate resilience through August, with both sales volumes and prices tracking above last year.

The average sale price for houses, units, and apartments in August was $1,512,962, up from $1,404,694 in August 2024. The highest sale for the month reached $3,775,000, while the lowest was $435,000. Sales activity remained steady, with 57 residential sales completed compared with 49 last year.

Properties spent an average of 79 days on the market, noticeably longer than the 61 days recorded in August 2024. This suggests buyers are taking more time to complete transactions, although vendors are still achieving strong sale prices. The land market experienced fewer sales but at significantly higher values. The average section price reached $1,313,750 in August 2025, a sharp increase from $745,000 in the same month last year. The highest section sale recorded was $1,825,000, with the lowest at $775,000. Five sections were sold during the month, slightly up from four in August 2024. Sections are taking considerably longer to sell, with an average of 317 days on the market compared with just 50 days a year earlier.

New listings for August totaled 75, down 27 percent on the same month last year, indicating tightening supply across the market. This reduced stock, combined with steady buyer demand, has helped lift the Queenstown Property Price Index to $1,820,000, up 15 percent year-on-year.

August 2025 highlights a market where values are holding firm and in many cases climbing, particularly for sections. Although sales are taking longer to conclude, Queenstown continues to attract strong buyer interest, with limited new listings keeping upward pressure on prices.

Disclaimer: Every precaution has been taken to establish the accuracy of the information contained in this report but does not constitute any representation by the publisher or licensee, interested parties must rely on their own inquiry. This report includes sales statistics up to 31 August 2025, sourced from REINZ.