PHOTO: Queenstown, New Zealand – Wikipedia
History shows Queenstown should be bracing for an economic slump, but an expert says ”unprecedented” tourist numbers are keeping property prices at a peak.
Colliers International released its 2018-19 property market review today, outlining its forecast for the area. It shows the market has reached a ”cyclical peak” – but said unprecedented growth in the tourism sector was keeping it there, and there were no signs of prices dropping off any time soon.
Meanwhile, there was hope for renters, as oversupply in some areas could curb prices.
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