Property prices in Wanaka have soared high that more people on lower incomes were driven out of town.
• Recent QV figures showed median property values in Wanaka & Queenstown hit $1 million, rising 30% in a year.
• QV says Wanaka’s property prices soared by 9% each year in coming years, compared with the national avg. of 2%, now outpricing residents.
• Some workers would have to commute 40 minutes to two hours away from home to Wanaka, because of the shortage of cheap accommodation.
• However, some residents are optimistic solutions would be found, with thousands of new houses being built, but Wanaka’s high living costs & low wages are also a problem.
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