Lake Hayes’ shoreline. Photo: ODTA property on the shores of the picturesque Lake Hayes near Queenstown sold for $7.1m which made it this year's most expensive residential South Island sale, according to a property analytics business. Nick Goodall, CoreLogic's Wellington-based head of research, said the property at 89 Arrowtown-Lake Hayes Rd fetched $7.1m, yet it was only valued at $4.4m. The $7.1m sale is a far cry from the most expensive property listed in the area. Trade Me Property lists the most expensive properties for sale in the Queenstown area:• Twin Peak View, Wyuna: $33m• 11 Closeburn Station, Queenstown $12.4m• Lower Shotover Rd, Queenstown $10m• 1 Closeburn Station, Queenstown: $8.5m• Bobs Cove, Lodge site, Queenstown: $8.5m

Source: Otago Daily Times December 21, 2017 21:56 UTC