The Goods on Real Estate Podcast
The Goods on Real Estate podcast dives into the Wanaka property market, offering insights on current trends, market movements, and expert analysis of what's happening locally. Hosted by Duncan Good, the podcast keeps listeners updated on everything from market trends to latest listings in Wanaka's dynamic real estate landscape.
The Goods on Real Estate Podcast
Property Values Soar as Wanaka Defies Traditional May Slowdown
The Wanaka real estate market is defying traditional seasonal expectations with remarkable resilience. May 2024 recorded 41 house sales—the highest turnover since March—during what's typically considered a quiet "shoulder season" before winter visitors arrive. With median house prices holding steady at $1,440,000 and 21 land sales completing at a median of $675,000, the market shows solid fundamentals despite broader economic pressures.
Duncan Good from Ray White Wanaka shares valuable insights on the recent Government Valuations (GVs) update for the Queenstown Lakes District. These three-yearly assessments reveal surprising inconsistencies, with some neighborhoods seeing no change while others jumped by approximately 30%. This spotlights why GVs often make unreliable value indicators—they apply broad adjustments across entire areas without considering property-specific improvements. Smart buyers and sellers are looking beyond these figures to recent comparable sales for accurate market positioning.
The podcast also touches on Wanaka's changing climate patterns, with the traditional May "inversion layer" (typically characterized by grey, gloomy conditions) arriving later than usual this year. This pleasant weather may have contributed to the stronger market performance as buyers enjoyed clear skies while property hunting. As winter approaches and ski fields prepare to open, the real estate market continues to build momentum across both entry-level and premium segments. Whether you're considering buying, selling, or simply understanding your property's current value in this dynamic landscape, the team at Ray White Wanaka offers comprehensive market appraisals based on relevant, recent sales data rather than potentially misleading GVs.