Average rent more than wage

Queenstown’s average weekly rent has hit a record, and is now higher than the entire take-home pay for someone earning the minimum wage.

New figures show the resort is the most expensive place to rent a house in New Zealand.

It comes as the waitlist for housing help in the resort skyrockets, prompting the head of the area’s housing trust to warn the situation may get worse.

Figures compiled by business website interest.co.nz show Queenstown Lakes’ average weekly rent hit $616 a week for the September quarter- the only place in New Zealand to break the $600 mark.

That was more than the entire take-home pay for someone earning minimum wage
of about $564.

It was also more than the average Auckland rent over the same period, which was $538.

The figures did not come as a surprise to Queenstown Lakes Community Housing Trust executive officer Julie Scott.

”That’s reflecting what we’re seeing on the ground.”

The average rent for the September quarter rose 6.3 % from the same quarter last year.

The figure was up 15.4 % on the same time two years ago.

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Source: ODT