Oct
19
The Closer to Antarctica, the Hotter the Property Market Gets
ByThey come for the skiing, wine and occasional polar blast.
Tourists take a ride on a jetboat around Lake Wakatipu in Queenstown, New Zealand.
Photographer: Mark Coote/Bloomberg
Move over Sydney and Auckland, there’s a hotter property market in the southern hemisphere and it’s only 1,500 miles from Antarctica.
In Queenstown, New Zealand’s adventure tourism mecca and playground for the rich and famous, house prices rocketed 31 percent in the year through September to an average price of NZ$959,000 ($690,000). That’s twice the 15 percent rate of increase in Auckland, the nation’s largest city. In Sydney, prices climbed a mere 10 percent…
The Closer to Antarctica, the Hotter the Property Market Gets
