Key Takeaways
- A luxury home on Lake Wakatipu has been sold for $18.88 million, the highest sale in Queenstown-Lakes this year.
- The six-bedroom house in Homestead Bay Peaks was designed by architects Sumich Chaplin and sits on a 1.54ha section.
- The sale price is the ninth highest nationwide for 2025, with the property featuring premium location and stunning lake and mountain views.
- The upper terrace plots in Homestead Bay Peaks are in high demand due to their better views of the Remarkables and shelter from the wind.
- The Queenstown Lakes’ high-end market has picked up in the last quarter of the year, with agents reporting good activity.
Introduction to the Sale
A luxury home on the shores of Queenstown’s Lake Wakatipu has been quietly sold for nearly $19 million. The six-bedroom property, located in the gated Homestead Bay Peaks estate in Drift Bay, was sold in October for $18.88 million. This sale price is not only the highest in Queenstown-Lakes this year but also ranks as the ninth highest nationwide for 2025. The property was designed by top architects Sumich Chaplin and features stunning lake and mountain views.
The Property and Its Location
The 665sqm house sits on a 1.54ha section, which was purchased by the vendor for $3m in 2018. Homestead Bay Peaks is a gated community located on the airport side of Queenstown, closer to the Remarkables ski field and Jacks Point golf course than other developments. The estate comprises 12 properties, ranging in size from 1.2ha to 2.5ha, with the largest section selling for $5m in April this year. Most of the plots have sold for around $3m. The location of Homestead Bay Peaks offers a unique setting for premium homes, with beautiful lake and mountain views and proximity to amenities.
Demand for Upper Terrace Plots
According to Bayleys agent Sarah McBride, the upper terrace plots in Homestead Bay Peaks are in high demand due to their better views of the Remarkables and shelter from the wind. McBride is currently selling a 1.38ha section in the estate, which comes with concept plans for a large house designed by top architecture firm Mason & Wales. The vendors of this section bought it from the developer in 2019 for $2.5m but are now relocating to Australia. McBride will be showing the property to a mixture of local, Australian, and Singaporean buyers with budgets of over $3m.
Market Trends
New Zealand Sotheby’s International Realty agent Matt Finnigan, who has sold properties in the estate, noted that build costs can climb to over $25,000 per square meter for premium houses. The location itself is stunning, with no road in front of the properties, which is a key selling point in Queenstown. Finnigan also reported that the Queenstown Lakes’ high-end market has picked up in the last quarter of the year, with good activity and interest from buyers.
Conclusion
The sale of the luxury home on Lake Wakatipu for $18.88 million highlights the demand for premium properties in Queenstown-Lakes. The unique location, stunning views, and proximity to amenities make Homestead Bay Peaks an attractive destination for high-end buyers. As the market continues to pick up, it will be interesting to see how the demand for these properties evolves and how the prices of these luxury homes change over time.
