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Discussion in 'New Zealand' started by mr, Aug 8, 2019.
They are just another suburb of Auckland now.
The dynamics are... weird. Wanaka is worse in summer.
It’s baby boomers, immigrants, kiwis that have lived overseas returning home, etc all cashed up pushing the prices.
IMHO both towns are not what they were 30 years ago, it’s a shame that the same mistake in Queenstown have occurred in wanaka and the local councils aren’t listening to the locals.
Queenstown needs a bypass ASAP so cars that don’t need to go into Frankton don’t go in there!
Hmmm i guess ultimately rich people but holiday houses in nice places and so goes the world eh
in the paper they were claiming average house price in wanaka is 1.2m
Sounds about right from what i saw.
This website gives you the last sale price and estimated price https://homes.co.nz/app/area/wanaka...t_name=WANAKA-MOUNT ASPIRING&street_type=ROAD
Great news feeds btw.
We enjoyed our stay too.
The interesting thing about living in the Southern Lakes is that the costs are way out of proportion to the incomes/work availability.
High housing & energy costs (no gas!), few good paying jobs, little PT except up the hills in season.
You either need to a very successful tradie or own & operate a decent resort/motel.
Otherwise, theres few white collar jobs (maybe some in QSL council?) but very high cost of living.
I think Alpine Shire housing prices don’t look so bad after all!!!
absolutely. i nearly fell off my chair (or dropped the icecream, i was licking, i beleive 'ice-cream licker' is a RE term for pewople like me) Get a 3-bedder in Dinner plain for $400k.
The people paying top dollar for houses don't live/work there.
I suspected as much too. Mostly out of towners who use the houses as holiday bases, then AirBnB the rest of the year or as part of a managed apartment block.
Let me guess?
Cashed up empty nesters negatively gearing?
Good luck to them I suppose until the bottom falls from the barrel?
No wonder rentals are going up Mel/Std/Hob style??
Mostly they are holiday homes.
Oh: its a beautiful place. Dont blame them - wish I could join them! ( :-(
I wonder if there's an 'affordable' town clues enough to the slopes?
Perhaps Cromwell? Lake Hawea? Glenorchy or Kingston?
It certainly ain't Arrowwtown!!
(Possibly the dearest of the lot!)
Not really anymore. Arrowtown was relatively recently very cheap. Twizel is the next cab off the rank. Tekapo has already bolted.
St Arnaud ?
Thats what, 6-700km away? More??
Gee whiz! I wonder what ‘real locals’ - esp. young wannabe homemakers think of the Southern Lakes.
Forced to slum it as eternal renters (like some of us city folk!) or move to the far outer subs of the big smoke (Ch/Dun/Well/Auk?)?
Not exactly a sustainable ‘model’ when the big R (finally) hits!!
I've got friends living in Queenstown/Wanaka. Actually, most of the QTown crew live in Arrowtown. Some rent, some have bought.
Personally I much prefer living in Dunedin, that said, I'd happily take Invercargill too (which is closer to lift accessed snow).
I think once you have kids, QTown/Wanaka become pretty shitty places to live. I've a cousin who's working on evacuating his young family out to the coast just north of Dunedin, and I often come across people in Dunedin with young families who've ditched the Southern Lakes once their kids are old enough that school choice really matters, or they get seriously into sport.
The problem will be a magnitude 8 earthquake on the Alpine fault, which, if I'm honest, is a reason why I don't live there.
A strong Shake risk would make be think seriously about moving from the alps. The cost savings could be a nice bonus! ( ;-)
The first time I went to Wanaka (1996?), you could buy a house block for NZ$10,000.
Yeah concur with all above.
first time in Wanaka in 1981 quiet, last skied there 1994 pretty good .
Now unfortunately too much foreign money around same thing as Melbourne , Sydney , Vancouver , Byron Bay and a 100 other places.
Just got back , house prices mad, cost of living mad, still a beautiful place but traffic and crowds everywhere.
Lovely people the Kiwis and much smarter country than Australia IMO.
Cardrona especially mad and other skifields busy, prolly 40 % Aussies.
Unfortunately there are 8 times as many skiers in August as 25 years ago and about twice the lift capacity.
Heliskiing however is still as good as anywhere .
Solution is probably to book at the last minute if July or September is good or go club fields.
Dinner Plain looks like amazing value to me. Great place.
I've heard some horror stories about queues at the clubbies this winter.
Seems a common theme across Oz/NZ and perhaps much of the western world. Totally open the borders to foreign investment, swamp the locals, price them out and force younger gen to move to boonies.
Gotta love capitalism sometimes! ( ;-)
Oh yes, find the next 'bargain' and repeat!
Unfortunately money talks and I suspect a lot of laundered money makes its way into real estate , local and state governments , estate agents love the revenue and before they realise what's happened ,it destroys communities.
One of the guides we spoke to was quite resentful that she couldnt afford a place near Wanaka and that many houses were empty part of the year.
The LNP pushed the belief that no one would support lower real estate prices and that suggestions to control it by the ALP such as reducing negative gearing and capital gains discounts were bad.
They have reduced interest rates by pressure on the Reserve and here you have it, the potential for another type of GFC.
Queues also worst I've ever seen at Ohau and Dobson on some weekends. Dobson said that was record numbers (last Sunday).
We had a verbal agreement on $100k for a section at Ohau but seller just pulled pin when pen came to paper.... that was about 3 years ago. In hindsight, probably better as we've done several big trips overseas now since then. But the sections are now 200-300k........ I wont go there
Depends why you want it i guess..
Really ,so Ohau , dobson and club fields are getting too popular?
I think Mackenzie yes, from what I've seen. as mentioned RE Dobson
Somewhere I read last year was a record season for Ohau. Think its pinned on the wall in their lodge
The issue is that their infrastructure is really very limited.
Re house prices in Wanaka in particular. Yes at the extreme high end foreign money plays a role. But these are multi million dollar gated estates out of town that have always commanded a premium. That's really quite a separate market.
Most of the houses in Wanaka town itself are kiwi owned, mostly by families that spend their summers there. A lot of them are owned by dairy farming families from the lower south island, or folks from other professions that have managed to ride the dairy boom. Dairy farming and skiing aren't overly compatible, but there's a reason why the upper clutha a&p show remains a huge event...
Foreign ownership is much more of an issue for residential homes in Auckland than holiday homes in the Southern Lakes. There is quite a bit of Australian money in Queenstown, but it's mostly going into multi million dollar new builds.
Thanks Red_switch I wondered what was going on?
Do you think there is much potential for expansion of lifting capacity ?
second hand lift going into Ohau this summer...
Not at the club fields. They are severely constrained by capital and their operating environment.
As for Ohau, plenty of potential, and stuff in the works.
There are always whispers of other projects up Mackenzie way too...
Southern lakes Skifields surely will have to expand ??
Yeah, and there's stuff in the pipeline for both Cardrona and Remarkables.
I can imagine the family vibe getting a beating in QT and Wanaka. Nice if you are an old bastard like me but not realistically affordable for most families.
Good time to be in construction I guess.
My brother was going to join my partner and I next year at QT. He has baulked at the idea once he worked out it would be about $7K for a week just to get himself, wife and two young kids there, accommodation, and ski passes. Then add on did and entertainment it becomes prohibitive.
We rented a house 15 mins from Wanaka by car, it was less than $1000 per week for at least 4 people.
Stayed in wanaka for 65 a night a few weeks ago... (2ppl) Depends how high your standards are
When we've ventured to NZ we've contemplated doing that, but in the end we're prepared to pay the premium to be able to just walk into town. We usually stay near the golf course for around $1600/wk but that's an apartment with washing machine, kitchen, etc (I could live in a box but my other half prefers a bit of comfort while on holiday).
Wanaka is going to be a sprawling mess.