Queenstown rentals spike 20% to $750 a week

Queenstown rentals spike 20% to $750 a week
A lack of listings and rampant seasonal demand has pushed up Queenstown-Lakes rentals. (Image: BusinessDesk)
Brent Melville
Queenstown-Lakes saw its median weekly rental surge by a fifth to hit $750 last month, its highest level since February 2020, according to Trade Me’s rental price index.The region’s pricing is being impacted by resurgent post-pandemic demand, particularly from seasonal and tourism workers, and a shortage of listings. A scan of Trade Me’s auction site on Wednesday yielded only 11 results, ranging from $500 a week for a one-bedroom flat in Frankton to $1,500 for a four-bedroom home on Kelvin Peninsula.Nationally, the rental...

More Property

Building work sluggish in September quarter
Economy

Building work sluggish in September quarter

Wellington building work was down 17% from a year earlier.

BNZ says housing market upturn will be 'slow and low'
Property

BNZ says housing market upturn will be 'slow and low'

High mortgage rates will stick around, the bank says.

Ella Somers 01 Dec 2023
Newmarket building goes green
Property

Newmarket building goes green

The building is designed to withstand some of the effects of climate change.

Staff reporters 30 Nov 2023
Build inflation slows to 4.9%, but fewer consents
Property

Build inflation slows to 4.9%, but fewer consents

Residential consents down more than a fifth on last year.

Staff reporters 30 Nov 2023