Shooting upwards Queenstown property market bounces straight back after Covid-19 losses

The Queenstown housing market offers you bounced back post-lockdown. Photo / NZH

Finally the Queenstown property market has bounced back after huge losses within the lockdown last year.

OneRoof editor Owen Vaughan said that kicks off in august last year, the median house pricing in the Queenstown-Lakes district was comfortably 7. 7 per cent.

Now the district is taking pride a 6 per cent increase as early as the lockdown began.

Of the median house price currently gives in at $1. 15 million in agreement to data from OneRoof, that is ” up ” from $1 million in December last year.

Vaughan said when Covid-19 struck, the district saw losses in property values of up to tio per cent.

“Now genuinely back and has grown by 6 per cent in the last four months.

“They have clawed back typically losses and is now ahead, there a really great comeback. ”

Vaughan said he thinks the increase is because confidence in the property marketplace is coming back.

“People are buying and the momentum has come down. Lots of property markets around the vacation spot are still below where they were long before the lockdown. ”

Particulars from OneRoof shows there were 369 settled sales in the district during the last six months.

The most expensive est sold was $8. 3 100 thousands.