The latest Colliers International market outlook shows Queenstown at the highest level in New Zealand, with 63% of respondents expecting average house prices to increase in the next 12 months. House buyers and sellers in Dunedin are a more cynical bunch, with only 32.2% expecting prices to track up next year. Notably — and pulling the overall score into positive territory — it was the first time Christchurch reflected a net positive score since December 2017, at 13.2%. Auckland also posted the biggest single gain in sentiment, with a net positive score of 49%, dramatically up from the 6% it posted the previous quarter. However, the survey numbers belie current pricing, as Queenstown-Lakes house prices declined in November, according to latest data from the Real Estate Institute of New Zealand.

Source: Otago Daily Times December 18, 2019 14:48 UTC