The latest results from the Colliers International residential Property Market Outlook survey show that confidence in residential property is on the increase, with Queenstown coming out on top.
Nationwide, a net 36% of respondents expect median house prices to increase over the next 12 months, a figure that’s up from 28% three months ago, and just 15% 6 months ago. The highest expectations of price increases were recorded in Queenstown, Tauranga/Mt Maunganui and Hamilton. Queenstown came in at nearly twice national confidence, with 69% of respondents expecting value increases.
Welcome news, arguably, for Queenstown property investors and holiday home owners, however not so welcome for long-term renters looking to enter the market. Despite the high confidence, however, many respondents do expect the market to plateau at some point.
A total of 5,734 responses contributed to the results of this survey. Read the full results here.
