Queenstown has seen property prices increase more than 31% in the year through to September. Photo: Chris McLennanThere's a property market hotter than Sydney and Auckland's and it's a lot closer to home than you think. Queenstown, known for its extreme sport and world-class tourism, has seen property prices increase more than 31% in the year through to September. According to Colliers International's 2016 Queenstown Property Market Review and Outlook report Queenstown is experiencing an unprecedented real estate boom supported by significant expansion of the commercial and residential sectors. Colliers Queenstown's valuation director John Scobie told the Herald he expected the town's property market growth would continue for the next few years.

Source: Otago Daily Times October 20, 2016 01:18 UTC