Queenstown property market splits

Queenstown's million-dollar property market is looking strong.

However, Real Estate Institute Wakatipu president Richard Newman says the upsurge at the high end of the market is at the expense of cheaper properties.

He describes the $500-700,000 dollar bracket as a big dark hole at the moment.

But he says high sales in the million-dollar-plus market indicates good international interest in the resort, along with a number of people from Auckland, Wellington and Christchurch choosing to move there.

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