Wanaka house prices for 2020?

[jack2016]

Wanaka is a weird market - the working class in Wanaka cannot afford to buy houses. Yet in the past few years more than 2X more house have been created than there were existing houses, expanding the village to over 3X its size in 2010. I had a puncture in 2016 and they didn't stock tyres in any of the tyre shops.

I'm after the latest house price stats in Wanaka - is it holding steady or is it falling?

Unlike major cities, the ROI is pretty low with the average rental being $550-600 a week and the average house price being 1.2m.

Anyone in the know?

[donna]

I recall the KiwiBuild has failed in Queenstown for the very reason you mention - lack of affordability.

Tourism is the biggest employer and it's low pay. There is wealth in the town of course with residents from far and wide, including the famous. I agree the ROI on long term rentals must be ridiculously low probably 2-3% so it's the capital gain and Airbnbs over long term rentals.

cheers,

Donna