The current residential market remains positive with new buyers coming into the area weekly.

Generally, quality properties in Central Otago are still attracting multi-offers, while some properties at the lower end have been less attractive as first home buyers and investors are few and far between.

So far the downturn predicted is proving to be the opposite for Central Otago.

However, this may change over the coming months depending on the housing supply and demand and rising interest rates. 

Central Otago is least likely to be affected as many buyers are now choosing Central and Lakes areas as their destination to work from. 

Buyers are staking out the greater Central Otago area, canvassing Cromwell, Omakau, Alexandra, Wanaka and Queenstown, more than ever before. People used to just look in one town if they were planning on moving.

Covid-19 has had a large influence on this drift south as employees and entreprenuers relocate away from densely populated main centres.

The lifestyle areas of New Zealand have so much to offer – and we’re seeing people want to return to the simple life of yesteryear. This trend will impact positively over coming months.

Buyers see that there is good value for money in Central and are more than happy to travel an hour or so, ‘driving through paradise’ for their commute or to get to Queenstown Airport. 

Our bike trails are also opening up this area to the rest of the world, events like The Prospector, Crankworx and also the Lake Dunstan trail showcasing the playground that is Central Otago and the lakes.

I look forward to continuing to bring you regular information and updates about the market and property related topics in coming months. 

Meet Peter Hishon, Business Owner Tall Poppy Real Estate

Peter started in real estate in 2014 and joined Tall Poppy as a franchise owner in 2018. Along with supporting his team of salespeople he has had great success across Central Otago. With a background in sales and negotiation working as a stock agent it was an easy transition to helping clients buy and sell property. Peter placed second in the Tall Poppy annual national sales awards in 2019 and 2020. His agency was also the best medium sized agency nationwide for Tall Poppy in 2021. He was rated as agent of the year for Alexandra and Clyde both in 2020 and 2021.