Market Review and Outlook 2015 Queenstown launch

Growth is the outstanding theme
in the Colliers International Queenstown, Dunedin and Wanaka Market Review & Outlook 2015, launched in Queenstown on
Friday May 22nd.
Colliers International clients and stakeholders gathered for the breakfast event, where Alan McMahon (Director of Research and Consultancy, Colliers in NZ) spoke on the national property market and John Scobie (Valuation Director, Colliers International Queenstown) presented on the Queenstown property and tourism markets.

Four main factors are identified as driving the Queenstown property market’s continued expansion: tourism growth, residential construction, commercial development in the Frankton Flats area and increased investor confidence. 

Expansion is expected for the next two to three years. 

“Clearly the market is in excellent shape and has a solid base for growth through the rest of this cycle and into the future,” says Scobie.

Read more in the Market Review and Outlook 2015

Key trends: next 12 months:

  • Property market growth and expansion in Queenstown expected to continue for at least the next two to three years
  • Frankton Flats commercial development to progress significantly, following agreement of PC19
  • Queenstown’s ongoing housing shortage will result in significant price gains
  • Acute shortage of long term residential rental accommodation in Queenstown to continue, flowing through to rent increases
  • Shortage of tourist accommodation in Queenstown, with the town at capacity over peak periods and resulting in increasing room rates
  • New hotel developments becoming increasingly viable
  • Ongoing scarcity of prime Dunedin CBD commercial property resulting in high demand, low yields
  • High demand for prime office and industrial property across Otago.

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