Official figures show post Covid property boom in Q'town Lakes

Year on year property prices in the Queenstown Lakes district rose 12.7% in September to a new median of $1,059,000, confirming a boom that has so far taken the real estate industry by surprise.

The rise in prices has bucked a previous trend that sees property prices dip prior to an election.

In their residential property report the Real Estate Institute of New Zealand (REINZ) records an increase in September sales for the Queenstown Lakes - from 82 in September 2019 to 102 in September 2020. That 's an increase in volume of 24.4%.