PHOTO: CHRIS MCLENNAN Vendors may have rushed to sell their houses in pricey Queenstown 

Real estate experts believe the Central Otago-Queenstown district might be the first area of the country to feel the effects of new rules on overseas house buyers.

According to property website, average asking prices average in the region during November fell to $857,011, down 18.9 per cent on the previous month.

New listings also fell by 4.6 per cent compared to October, when sellers were asking the much higher price of $1,057,019.



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