Location spotlight: Queenstown   2 Mar 2006

The most popular area of New Zealand for property is the Central Otago Lakes region and one of its top locations is the country’s tourism capital, Queenstown.

The city regularly tops the New Zea-land Business & Economic Research’s economic performance ladder and its popularity and economic success is largely due to its tourist appeal.

The resort town is a year-round favourite with outdoor enthusiasts and its dramatic natural surroundings have been the setting for several big budget films including the Lord of the Rings trilogy.

In terms of its appeal for property investors, the fact that unemployment in the town is low and average wages are higher than the national average means that there is a strong local economy to drive the ongoing stability of the market. Furthermore the year-round demand for accommodation means there is a constant market for rental properties. And because short-term lets generate more income, investors can choose to target only the tourism market sector for the greatest returns.

There is also a strong demand for second homes for sale, with local New Zealanders in search of a country retreat. And now that the town’s air-port has received a massive upgrade the levels of international visitors expected will push up demand in both rental and sales markets.

All these factors make Queenstown the most exciting location for property investment in a country where property investment is the number one form of financial vehicle for a nation of investors.

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