Queenstown Property Market Update – June 2026

Winter has arrived in Queenstown, but the property market remains active, with buyer confidence holding up well across the region.

First home buyers remain highly active, while interest from Australian buyers is increasing as the ski season gets underway. This seasonal trend is common in Queenstown, where winter tourism often brings increased enquiry and renewed activity in the property market. Auction activity also remains strong, with well-priced properties continuing to attract solid competition.

Buyer Activity

First home buyers remained the most active buyer group in the market this month, with renewed interest from Australian buyers. We often see increased activity from Australian buyers during the winter season, and the opening of the ski fields typically strengthens this further.

Most vendors continued to price properties in line with market expectations, and overall, open homes and auction rooms remained busy throughout the month. Auction remains a popular method of sale, with most properties attracting some form of bidding, either during the auction itself or shortly afterwards.

Queenstown Lakes Market

• Median house price: $1,550,000 (down 4.3% on April, up 11.5% from May 2025)
• Sales volumes: 103 properties sold (down from 128 in April and 123 in May 2025)

Despite slightly lower sales volumes, annual price growth remains strong, reflecting continued demand in the region.

Central Otago Market

• Median price: $790,000 (down 10.7% on April, up 1.4% on May 2025)
• Sales volumes: 34 properties sold (down from 40 sold in April and 54 sold in May 2025)

Activity has softened slightly as winter begins, although pricing remains relatively stable year-on-year.

Wānaka Market

• Median price: $1,547,000
• Sales volumes: 46 sales recorded in May
• Average days to sell: 71 days

The Wānaka market remains steady, with premium properties continuing to attract solid interest despite slightly longer selling timeframes.

Otago Regional Market

• Median price: $685,000 (down 5.8% on April, up 1.5% on May 2025)
• Sales volumes: 419 sales recorded in May (down from 429 sales in April and 478 sales in May last year)
• Average days to sell: 47 days (three days less than this time last year)

Overall, regional activity remains steady with modest annual growth and improved selling timeframes.

The Takeaway

Despite the cooler months, the Queenstown property market remains resilient, with plenty of properties available and continued interest from buyers. Overall sentiment from both buyers and sellers remains positive, despite external factors such as the upcoming general election, ongoing interest rate uncertainty and broader economic conditions.

Demand is expected to remain steady through winter, supported by the ski season and continued buyer interest in the region. Well-presented and realistically priced properties continue to attract strong interest, particularly in sought-after Queenstown and Wānaka locations.

If buying property is on your radar, preparation remains key. Having your finances structured early puts you in a much stronger position to move quickly when the right property becomes available.

At Loan Market Queenstown, our mortgage advisers can help you understand your borrowing position, secure a suitable loan structure and get mortgage-ready before you begin house hunting.

Get in touch with our team today on 03 441 1307 or book your free appointment online.

Source: Real Estate Institute of New Zealand and Harcourts.