Later half of August and finally a decent covering on our local ski fields. It has to date been a very mild winter it will be interesting to see if as a result, winter extends its season or if we get an early spring.

Property market is interesting, the figures for July showed 42 sales compared to July 18 at 50, the number of days to sell increased to 49 for July 19 compared to 40 for July 18 and the median sell price $985,000 compared to $957,500 July 18.  To put the Queenstown market into perspective July’s total number of sales (42) was a mere .69% of the New Zealand total.

We are still very much a supply and demand driven market and whilst time to sell has extended, prices seem to be holding, it does appear however as though the urgency has reduced and people are taking time to decide on a purchase. It will be interesting to see what impact recent interest rate reductions will have on the market. Perhaps the biggest impact may be on investment properties as those with funds on investment at banks are impacted by significantly reducing returns. Will this see a flight of investment into bricks and mortar?

A really good time with lower interest rates to review your existing borrowing, we are seeing many clients retaining existing repayment levels but with lower rates they are significantly reducing total loan term. Happy to talk about your options at any time.

Sky City Stampede completed the season on Friday winning the second game of a best of three final against West Auckland Admirals. This win meant they again secured the hold on the Birgel Cup and was witnessed by a sell-out crowd at the Queenstown Ice Arena. Well done Stampede, rest recover and prepare for next season.

If Michelle or I can help in any way don’t hesitate to contact us.

Cheers

Charlie & Michelle