The 90-days of summer have come and gone and whatever sentiments you harbour about the weather, that’s our lot until later this year.
REINZ reported property sales for December allow us to share a round up on the 2010 year for Wanaka and draw a direct comparison to the previous 12-months in 2009. January sales by way of volume historically trend lower than December which came to fruition. Overall January’s sales data conjures up a multitude of adjectives.
Report Period: 11-months January – December 2010 comparing Jan- December 2009
□ REINZ reported sales for the Wanaka Area. Private sales not included.
| Property Type | Sales Jan- Dec 2010 | Median Sell Price ($) | Sales Jan- Dec 2009 | Median Sell Price($) |
| Residential Dwellings | 212 | $481,750 | 209 | $479,000 |
| Townhouse | 6 | $430,000 | 11 | $470,000 |
| Unit | 6 | $320,000 | 10 | $384,500 |
| Apartment | 8 | $332,500 | 11 | $531,018 |
| Vacant Land | 92 | $226,500 | 98 | $245,000 |
| Rural Lifestyle Block | 10 | $305,625 | 26 | $715,000 |
| Residential Invest Block | | | 3 | $1,850,000 |
| Total | 334 | | 368 | |
Wanaka Area Property Sales- Month of January 2011
Following is our ‘desktop review’ of the latest sales data for the Wanaka area.
| | Type | January 2011 | December 2010 | January 2010 |
| Number of Sales | Residential Dwellings | 6 | 15 | 11 |
| | Apartments | 2 | | 1 |
| | Townhouses | | | 1 |
| | Units | | | |
| | Sections / Vacant | 3 | 4 | 16 |
| | Rural Lifestyle Blocks | 2 | | 1 |
| | Total | 13 | 19 | 30 |
| Value of Sales ($) | Residential Dwellings | $2,555.000 | $10,427,500 | $5,622,000 |
| | Apartments | $1,385,000 | | $450,000 |
| | Townhouse | | | $410,000 |
| | Units | | | |
| | Sections / Vacant | $1,885,000 | $1,727,000 | $3,515,775 |
| | Rural Lifestyle Blocks | $565,000 | | $450,00 |
| | Total | $6,390,000 | $12,154,500 | $10,447,775 |
| | | | | |
| Median Sell Price | Residential Dwellings | $412,500 | $505,000 <, /td> | $535,000 |
| | Apartments | $692,500 (2) | | $450,000 (1) |
| | Townhouses | | | $410,000 (1) |
| | Units | | | |
| | Sections / Vacant (2) | $765,000 (3) | $420,000 | $227,500 |
| | Rural Lifestyle Block (1) | $282,500 (1) | | $450,000 (1) |
| Median Days to Sell | Dwellings all types | 62–days. | 80–days. | 94-days |
| | Sections / Vacant Excludes Rural | 519-days. | 103-days. | 80-days |
Wanaka Area Sales Mix – January 2011 comparing January 2010
| Property Type | Sales Jan-11 | % Of Total Sales | Sales Jan-10 | % Of Total Sales |
| Residential | 6 | 46.1% | 11 | 36.7% |
| Unit | | | | |
| Townhouse | | | 1 | 3.3% |
| Apartment | 2 | 15.4% | 1 | 3.3% |
| Vacant Land | 3 | 23.1% | 16 | 53.4% |
| Rural Lifestyle BLK | 2 | 15.4% | 1 | 3.3% |
Analysis of Residential Sell Price:
Dwellings, Units and townhouses. January-11 comparing January-10
· Excludes Apartments
| Sales Price Point | January 2011 | January 2010 |
| $100K > $199K | | 8.4% of all sales |
| $200K > $299K | 16.6% of all sales | |
| $300K > $399K | | |
| $400K > $499K | 50.0% of all sales | 41.6% of all sales |
| $500K > $599K | 33.4% of all sales | 25.0% of all sales |
| $600K > $749K | | 16.6% of all sales |
| $750K > $999K | | 8.4% of all sales |
| $1m > $1.249M | | |
Analysis of Vacant Land Sell Price: January-2011 comparing January-2010
| Sales Price Point | January 2011 | January 2010 |
| $100K > $199K | 33.33% of all sales | 43.75% of all sales |
| $200K > $299K | | 50.00% of all sales |
| $300K > $399K | | |
| $400K > $499K | | 6.25% of all sales |
| $500K > $599K | | |
| $600K > $749K | | |
| $750K > $999K | 33.33% of all sales | |
| $1m > $1.249M | 33.33% of all sales | |
Data Source: REINZ (Private sales not included)
Disclaimer:
While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.
