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The Market

Inspired confidence in Central Otago

Central Otago has certainly hit the headlines recently as the good news stories keep flowing. It's a much-preferred area to live if the real estate activity levels across the region are anything to go by.

 

With our tourism industry flourishing, buyers near and far are coveting a slice of Central Otago. As of November, it takes 33 median days to sell a dwelling in Cromwell and 18 in Alexandra. This is much faster than in 2015 and median prices have significantly increased too - by more than $150,000 in Alexandra.

 

At Harcourts...

 

We enjoyed a strong showing at the recent sell-down of the final stage of The Rise subdivision in Cromwell. 17 sections were released with seven at auction - we weren't surprised that the market responded so well to this quality offering.

 

So what can we expect in 2017?

 

Across Central Otago, we're turning our attention to the release of more parcels of land - they are desperately needed to satisfy the unprecedented demand from first-home and new-build buyers.

 

We're on the hunt for new listings and we think sellers will find 2017 extremely profitable. Summer is an active time of year for us and let's hope the seasonal good will is matched by good sense on our busy roads.

 

Let's enjoy the positivity of the region with a happy and safe summer season.