House SalesCentral Otago has certainly experienced its part of the real estate boom and bust cycle.
Residential house and section sales in Central Otago have been at a consistent rate for a number of years after falling from a much higher level in 2007. It does appear that the recent trend is upwards for house sales. Section salesm however are still at a relatively low level.
While nationally, real estate prices have recovered the lost ground since the peak in 2007/8, Central Otago prices remain in the doldrums. Using price trends the current average real estate values are almost 20% less than the peak in 2008.