The number of residential properties sold in Wanaka in July increased by 23.5 per cent compared to the same time last year. 

New Zealand as a whole recorded a similar trend (+24.6 per cent) for the same months, according to statistics from the Real Estate Institute of New Zealand (REINZ).

“In past election years, we have seen the property market pause for breath in the lead up to an election and we expected to be hugely affected by COVID-19 as we came out of lockdown,” First National Wanaka sales manager Lynette Winsloe said. 

“So far, neither of these issues have affected the property market.”

There were 63 residential sales in Wanaka last month, confirming that the local property market remains active.

Thirty-seven of these were house sales, with the entry level being $500,000 for a three-bedroom house in Luggate. 

In Wanaka, prices ranged from $695,000 for a three-bedroom house, right through to $2.8m for a substantial property at Mt Barker.

There were 26 section sales, with prices ranging from $275,000 for a 393m2 Northlake site, through to $1,175,000 for a 4525m2 site in Far Horizon.

In July a grand total of $60.5M worth of property was sold in the Upper Clutha area.

The average price for Wanaka houses was $1,397,804, up slightly from last July’s figure of $1,323,920.

“Auckland has just gone into level three lockdown but that is not where most of our buyers come from so we are expecting the Wanaka market to continue to perform well in August,” Lynette said. 

PHOTO: Wanaka App