Rich Aussies on the hunt for $3m-plus properties
"The current market is seeing a 10-fold imbalance of buyers versus available high-end properties, with Lake Hayes noted as a hot spot for demand," Oliver Road managing director Cam Winter says.
"We are contacted daily by buyers with budgets of between $5million and $25m, but they have very specific requirements and aren't going to part with that sort of money if something isn't quite right."
People with $8m to spend won't just buy the best available option, he notes — "they're happy to wait until the perfect place comes along".
Winter, who's been joined by sales partner Omea Swanson over the past six months, won the best NZ agent award (2025-26) at the International Property Awards' Asia Pacific awards in Bangkok, Thailand — he also spoke on a panel about the Queenstown property market.
Oliver Road also won best real estate agency website in NZ and the top NZ marketing award.
With the first two awards, Winter and his firm are also in the running for Asia Pacific and international awards which will be announced in December.
When his company solely operated in the Bay of Plenty, he also won the Asia Pacific best agent title in 2021-22.
He set up his Arrowtown office in '23 and, since launching with three listings 18 months ago, the firm's sold 18 properties ranging from about $3m to $12m.
Winter notes buyers like his agency's transparent pricing.
"As the agent for a property worth $7m or $8m, we have a responsibility not only to the seller of that property to get the best price but also to the current and future sellers of other properties in what is such a small market segment.
"The results heavily impact what can be obtained for other properties."
He notes about 60% of his buyers are from Australia, and primarily Sydney.
"A notable recent sale of 408 Littles Rd at $7.23m took place after a multiple offer situation with both buyers being from Australia."
Following recent comments from NZ First leader Winston Peters, whose party's in the coalition government, "we expect the current overseas buyer settings [allowing only Australian and Singaporean foreign residential buyers] to change, though this is likely to allow only those investing in the country to acquire property here, over a threshold such as $5m".
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NZ Herald
9 hours ago
- NZ Herald
Queenstown's Carlin Residence Club: What's it like staying in a $6k a night penthouse?
The Carlin is staggered over Queenstown hills. Photo / James Allan. BDO Christchurch, appointed to settle Carlin's estate, found debt of $45 million. Paynter coyly told the hiker he was an 'old property developer'. (He's actually developed several big projects across New Zealand). 'She said, 'Well, have I got a deal for you... Do you want to buy it?'' Paynter tells me over a glass of Quartz Reef Central Otago Brut in a luxury suite with an unobstructed view of Lake Wakatipu, The Remarkables and the Skyline Queenstown gondola going up and down from Bob's Peak. Paynter asked if she had heard of a co-ownership model, and The Carlin Residence Club was born. Alanah Eriksen enjoys the expansive deck of the penthouse. With the hotel's Australian owner and US fractional ownership company Elite Alliance, Paynter is bringing a concept never before seen in New Zealand. Individuals can purchase a tenth of a title of one of the former hotel's eight units. Prices start at $550,000 for a share of one of the six two-bedroom 145m2 units. The one-bedroom 172m2 penthouse is $695,000 and the three-room 236m2 presidential suite is $895,000. But the public can still benefit from the revamp - apartment owners can rent out the properties for between $3000 and $7000 a night. The penthouse The penthouse suite at Queenstown's, The Carlin. So what is a $6000-a-night penthouse like? Spacious and elegant, with the critical design feature that everything is oriented towards the mountains. I got to stay at The Carlin over a weekend in June and the first thing that strikes you is the panoramic view from the expansive deck, which runs the length of the unit. The penthouse suite, which is due to be refurbished. You could entertain 20 people on this epic deck. But you conveniently won't be obliged to house them afterwards as it's a one-bedroom pad. The technology is more advanced than anywhere I've stayed, with a heated spa with all the jets and bubble functions you could hope for. You can even play music out of it. There are several light settings, two big flat-screen TVs, a remote control fireplace, a heat pump and a marble fire pit on the deck. And one suspects there is also some sort of central heating on top of all this gadgetry because if you turn off all of these heaters, the apartment still stays warm. The massive ensuite has heated tiles and a heated toilet seat with bidet functions. But there is also a more traditional non-electronic second throne (or powder room) if you get intimidated. And for a touch of spice - the shower has no door. A deep freestanding bathtub even has a pillow for residents to rest their heads after a day of hitting the slopes, wineries or shops. In the bedroom, guests can wake up in the plush, super king bed (after booting off the dozens of pillows arranged into an elaborate pyramid) to look out on to the lake. Guests can enjoy fluffy robes with The Carlin emblem on them, and bamboo slippers. The penthouse offers a deep bathtub and a heated toilet seat. The little details are on point. Fluffy white robes carry the iconic teal-coloured Carlin emblem. In the same colour, a jewellery holder next to the bed is perfect for residents' diamond earrings, and a shoe shiner and shoehorn take pride of place in the bathroom. If you need it, there's a full chef's kitchen but guests are offered a cooked breakfast in the residents lounge, which would suit those flying in from far-flung locations. The suite offers a full kitchen. A render of The Carlin's residents lounge. Guests can also enjoy a free cocktail at happy hour and mouth-watering tapas in the lounge. My favourite pre-dinner morsels were the braised lamb shoulder croquettes with smoked aioli, chimichurri and Grana Padano. The fresh tuna and blood orange tartare taco and the overnight-cooked beef ribs with kimchi glaze and fried shallots were also a dream. Guests can enjoy complimentary tapas, including the braised lamb shoulder croquettes with smoked aioli, chimichuri and Grana Padano. Fresh tuna and blood orange tartare taco. Overnight cooked beef ribs with kimchi glaze and fried shallots. The concierge is at your beck and call, arranging a massage in a club treatment room or on your majestic deck if you prefer. Other services include a pre-arrival grocery shop, charter boat and shuttle service bookings and bespoke tours. The Carlin also has a gym, electric bikes, clothing and equipment storage and laundry services. So much to do If you can part with the room and brave the winter, I recommend getting your steps up with a 10-minute walk to the city's array of bars and restaurants. Sunfire's market fish - a creamy dish that includes clams, prawns, bacon, smoked potato and velouté was to die for. Eichardt's Bar, attached to the hotel of the same name, which has welcomed travellers through its doors since 1861, was a cool, cosy spot for a nightcap. Eichardt's Private Hotel is right on the lakefront in Queenstown. Once home to Queenstown's first building — William Rees' woolshed - the bar's fireplace and leather couches keep you comfortable and toasty and the cocktails are refreshing. At Madam Woo, which defied the odds to emerge from voluntary administration in 2023, the pork dumplings in hot broth, beef rendang and honey and soy-tossed squid are a must-try. The Ginger Mojito and Asia Classic are also worth a go. Madam Woo in Queenstown. Picture / James Allan. Coronet Peak is just a short car drive from the property, or go a bit further to Cardrona. Even if you're not a skier, the hairy drive up the mountain is worth it for the view. On the way down, warm up with a mulled wine and soup of the day (potato and leek was on offer at the time) at the iconic Cardrona Hotel. Despite its reputation as a winter wonderland, Paynter says Queenstown is much busier in the summer with people jetting in for the hiking, cycling and wineries. Alanah Eriksen at the Cardrona Hotel. Queenstown's Ayrburn. Photo / Jason Oxenham It's also worth checking out the Rifters gin tasting room in Arrowtown. The New Zealand brand has just won the World's Best Navy Gin award at the prestigious World Drinks Awards in London. Timeshare v fractional ownership With a commerce degree up his sleeve and a wife and daughter who are high-end interior designers (three homes they worked on have won the New Zealand's House of the Year Award), Paynter's Duchamp Collective is giving The Carlin a new lease on life. And he's the man for it - after university, Paynter worked for his father's construction company which built the Queen Elizabeth II Park, a multi-purpose stadium, for the 1974 Commonwealth Games in Christchurch. He went on to build Wānaka's Edgewater Resort, retirement villages and shopping complexes. Developer Richmond Paynter of DuChamp Collective. Duchamp's interior designers, Susie and Teassa Paynter. Elite's first development was a set of apartments in Utah's Deer Valley 35 years ago. Owners of The Carlin apartments can trade in their weeks for 120 properties within the Elite group dotted around the world, including in Marrakesh, Sicily, Tulum, Bali, Whistler and Dubai. So how does the concept differ to a timeshare? 'You are buying capital, not time,' says Paynter. President of Elite Rob Goodyear adds that The Carlin concept is perfect for people who 'don't want to feel anchored to one location'. 'People who have holiday homes really only use them 35 days a year... we release them from the burden of full home ownership.' CHECKLIST Getting there Four airlines fly to and from Queenstown, including Air New Zealand, Qantas, Virgin Australia, and Jetstar. The Carlin offers airport transfers. Details For more information, visit New Zealand Herald Travel visited courtsey of The Carlin.
Otago Daily Times
9 hours ago
- Otago Daily Times
Kmart accused of links to slave labour factories
Retail giant Kmart is facing accusations it misled customers on its ethical credentials by sourcing clothing supplies from factories in China with links to slave labour. An Australian-based Uyghur group has filed a lawsuit against the outlet in the Federal Court, seeking to gain documents so they can see whether it knowingly sourced stock from suppliers who used forced labour from those in the ethnic group. In its ethical sourcing statement, Kmart said it aimed to provide products that respected human rights according to its ethical sourcing code which committed to abiding by international standards, including guidelines set out in the United Nations Universal Declaration of Human Rights. The lawsuit filed by the Australian Uyghur Tangritagh Women's Association claims Kmart included on its 2024 and 2025 factory lists two suppliers with links to the Xinjiang Uyghur Autonomous Region. It said this region in China's west has been well-documented for "systemic state-sponsored forced labour and other atrocities against Uyghur and other Turkic Muslim people". The group wants proof from Kmart that it has abided by its ethical sourcing promises regarding these suppliers and whether its public statements have been misleading or deceptive. Kmart must ensure it is not profiting off forced labour in China, association president Ramila Chanisheff said. "We're demanding answers from Kmart so we know whether its actions live up to its words about addressing forced labour risks in its supply chain," she said. The retailer risks a legal claim that it breached Australian Consumer Law by misleading and deceptive conduct if documents show it had failed to monitor the risk of it using forced labour in its supply chain. Maurice Blackburn principal lawyer Jennifer Kanis said the firm was using this first-of-its-kind case to bring real accountability to Australian retailers. "Kmart tells customers that it supports ethical sourcing and the protection of human rights – but we know there are credible links between two of its factories and suppliers and the use of Uyghur forced labour in Xinjiang," Ms Kanis said. Human Rights Law Centre associate legal director Freya Dinshaw said the case highlighted the weaknesses in Australia's laws when members of the public are left to take companies to court on suspicions of modern slavery. Unlike the United States, Australia has not banned imports of products made in the Xinjiang region, instead opting for a transparency approach which requires businesses to report annually on their actions to identify and address slavery risks. Wesfarmers, the parent company of Kmart, has been contacted for comment.
1News
12 hours ago
- 1News
Change coming to rules for residential sheds, garages
Homeowners will soon be able to build small structures like garden sheds, sleepouts and garages closer to their property boundaries without requiring building consent following regulatory changes announced by the Government today. Cabinet agreed to remove the minimum distance required between single-storey buildings under 10sqm and a property boundary or other residential building, and reduce it to one metre for buildings between 10 and 30 square metres. Previously, these structures needed to be set back from boundaries by at least their own height unless a building consent was obtained. The changes, which would be made by amending Schedule 1 of the Building Act, were expected to take effect later this year. All building work must still comply with the Building Code and local district plans. ADVERTISEMENT Regulation Minister David Seymour said shrinking section sizes and the cost of living meant forcing people to put sheds in the middle of their lawn or pay for consent to store tools "doesn't make sense". "There is no justification for such generous setback distances on private property," he said. "Today's housing market means space is tight and building costs are high. These types of property developments are practical and affordable improvements. We want people to be able to utilise them without hassle." Building and Construction Minister Chris Penk said the Government did not believe Kiwis should be "bogged down in bureaucracy" when making use of their backyard. "That's a real win for anyone short on space, giving them more freedom to add a bike shed, protect their tools, cover a vehicle, or even create a small sleepout for guests – all without extra paperwork." Seymour said the regulation change had come about due to the Ministry of Regulation's red tape tipline, an online resource where the public could make submissions on regulations that affect them. Larger granny flats able to be built without consent ADVERTISEMENT A granny flat (file image). (Source: The Government also announced earlier this year it would ease rules around granny flats and increase the maximum size that could be built without consent to 70 square metres. An increase to 60 square metres was a National-NZ First coalition agreement, but Housing Minister Chris Bishop said "huge support" meant the Government would go even further. "It's currently far too hard to build the homes New Zealanders need, with even the simplest dwellings tangling up homeowners and builders in red tape." Under the proposal, granny flats could be built without consent if they had a simple design, met the Building Code, were built by authorised builders, and if the council was notified before and after construction. The amendment bill passed its first reading and was currently at the select committee stage, with the report due back next month.
