Queenstown’s residential market is levelling off but other property sectors are still performing well.
That is a finding in Colliers International’s “2019-20 Otago Market Review and Outlook”.
After an unusually prolonged period of growth, the report says there are signs the residential property market is taking a breather.
Signs include “lower sales volumes, vendor expectations moderating and prices stabilising”.
Prices remain firm in central Queenstown, due to limited demand and the effects of rezoning, the report says, but values in developing suburbs “may come under downward pressure as further supply is introduced”.
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