Queenstown second fastest growing ski resort
Queenstown has emerged as one of the world's fastest growing ski resort property markets ahead of the likes of Aspen, St Moritz and Whistler, according to a new international study.
The research, commissioned by Knight Frank, showed prices for luxury ski homes in Queenstown rose by almost 19 per cent in the past twelve months - a growth rate second only to California's South Lake Tahoe.
The growth put it ahead of Switzerland's St Moritz, Colorado's Aspen and Canada's Whistler.
The Knight Frank Prime Ski Property Index (PSPI) reviews capital growth movements in 18 top ski resorts around the world.
The PSPI recorded strongest price growth in the year to June 2013 in the luxury ski home markets, with Queenstown outperforming all but one of the world's top ski destinations.Knight Frank Managing Director, Layne Harwood, said in the past Swiss ski resorts topped the rankings, followed by the French Alps and then North American and Russian resorts.
"In the 2013 year however, historical regional rankings have less relevance as growing buyer interest in individual ski resorts, like Queenstown, change the old world order."
He said there was also an average price rise in the luxury ski resort home market over the last 12 months compared to the slight fall recorded the previous year.
France took a hit with four of its resorts in the bottom five while Cortina, in Italy, dropped by 8 per cent in the last year.
Queenstown is the only New Zealand resort that features in the top ski property markets around the world.
12 MONTH % CHANGE
6 MONTH % CHANGE
(JUN 12 - JUN 13)
(DEC 12 - JUN 13)
South Lake Tahoe*
Source: Knight Frank Residential Research