Tourism keeps Queenstown housing market afloat

Tourism keeps Queenstown housing market afloat
Confidence is high in the Queenstown market. (Image: BusinessDesk)
Brent Melville
Queenstown Lakes’ tourism bubble has served to insulate its real estate market from the ravages of the most recent residential market downturn.Economists refer to the lakes district’s housing market – which ranges from Queenstown and Wānaka to as far afield as Cromwell – as ‘unique’ from the rest of the country. That's because it attracts buyer interest in second homes from those in bigger cities and from offshore buyers, particularly out of Australia.The latest Real Estate Institute of New Zealand (...

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