Queenstown Property Development

Queenstown Lakes District covers a land area of 8467 square kilometres including three major lakes with the economy heavily reliant on the visitor industry although this gradually becoming more diversified, with new industries such as wine, filming, language schools and light industry becoming established.

Property development and construction is another major industry which is clearly influenced by both the fortunes of the visitor industry (eg: demand for new visitor accommodation) and the population growth. The population of the Wakatipu Basin is 22,959 showing a growth rate of 7.4%, well above the national average of 2%. In addition it sees over 1.6 million visitors pass through each year.

Population and visitor growth translates into a demand for more houses, more sections, more apartments, more schools, more shopping and other business services, more hotels, motels and other visitor accommodation and visitor facilities. For the next twenty years the high growth projection would see a demand for about 10,000 additional residential dwellings – including second homes and holiday apartment type developments and an infrastructure to support them.