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The Goods on Real Estate: market recovery and future prospects (real estate blog)

The Wānaka App

Duncan Good

16 January 2025, 7:46 PM

The Goods on Real Estate: market recovery and future prospects (real estate blog)Duncan and Kelly Good are The Goods on Real Estate

The Wānaka real estate market has witnessed significant change and development over the past year. As we step into the new year, it’s crucial to understand the trends and statistics that have shaped the market landscape. 


One of the notable points from December’s real estate sales data was the total of 54 sales, with 37 of these being residential properties. 



The median house price reached $1.35M in December, marking an 11 percent increase from December 2023. 


These figures reflect the growing attractiveness of Wānaka as a desirable location for homebuyers and investors alike.



Through the hustle and bustle of the festive season, the local real estate market has shown resilience and strength. December’s 54 sales are significant, especially considering that December is traditionally a quieter month. This influx in activity signals a positive shift in the market, hinting at an upward trend for 2025. 


The total volume of sales in December increased by 20 percent compared to the same time last year, suggesting that buyers are feeling more confident in their purchasing decisions. With a good amount of stock available, we anticipate continued momentum during the summer.



Examining the overall data from 2024, it’s essential to highlight that the year ended on a strong note. The year saw a total of 536 residential sales, a 17 percent increase in volume versus 2023. 


This rejuvenation of activity can be attributed to a combination of factors, including a reduction in interest rates that has restored confidence among buyers. 



The average price across all residential sales for the year climbed to $1.6M, buoyed by an uptick in the upper-end market segment. The number of sales exceeding $5M doubled compared to 2023, demonstrating an increasing investment in luxury properties.


As we look forward, our analysis suggests that this growth isn't merely a passing trend but rather the beginning of a sustained recovery. Real estate operates within a cyclical framework, often characterized by seven to eight-year cycles. With the statistically robust performance in late 2024, we are optimistic about the trajectory for this year. The effective combination of reduced interest rates and increased market confidence means that now may be a wise time for buyers to act.


Finally, as the New Year begins, it’s essential for those interested in Wānaka real estate to remain informed and aware. Every market is unique, and understanding the specific dynamics at play in Wānaka will empower buyers to make informed decisions. 


Whether you're contemplating a purchase or pondering a sale, now is the perfect time to engage with the team at Ray White Wanaka, who can offer comprehensive insights and guidance tailored to your needs.


Ray White Wānaka is situated at Sir Tim Wallis Drive Wānaka. Find out more here.