Increasing tourism numbers and the lift in average visitor spend continue to be a source of great positivity for our lakeside resort town.
Many businesses are riding the wave of prosperity and new operators are opening their doors to a confident spending environment.
The flourishing business community will get an opportunity to celebrate success with this year’s Ignite Wanaka Business Awards while the QLDC makes plans to accommodate further population increases with an urban growth boundary that directs development towards the Cardrona Valley Road. The area’s strong economic state is reflected by the range of exciting events held during the winter— the Audi quattro Winter Games are expected to be a particular highlight, bringing Winter Olympic, Paralympic and X Games stars plus many fans to the area to witness exhilarating top-level competition.
In the property market, a shortage of supply is taking effect with July’s sale volume dropping to its lowest in five years and little availability of titled sections, both of which present tough challenges for buyers. Demand is resulting in premium sale prices and competitive bidding has affirmed particularly strong interest in outlying locations such as Albert Town, Hawea and Luggate. New developments such as The Heights and Hikuwai offer relatively affordable options in today’s market while the luxury lakefront Marina Terrace Apartments have begun construction. This article recently published by stuff.co.nz makes for an interesting read on the growth trajectory for the Wanaka region.
On a more personal note, our latest ranking among the top twenty agents in New Zealand (year-to-date) has been a great achievement for us throughout 2017. This places us among the top 1% of New Zealand's largest real estate agency network. We remain the Number One agents in our Wanaka office and would like to say thank-you to all our past and present clients for their continued support of the service we provide.
As we continue to see very frustrated buyers at the shortage of existing homes and sections in the Wanaka area, we encourage anyone planning to sell a property to discuss with us where your investment may be positioned in the market. We can also provide a free & informative report on specific properties, so please contact us today and have a chat about how we can help you achieve a great result!
Guy & Sheryl Alty
For further up-to-date information on what is happening in the NZ property market visit http://unconditional.co.nz/nz-property-report-data/
Our recently-released market report offers further insight and trends in the local market.