Deand for rental properties remains buoyant.

With prices starting at $260 a week in Hawea for a two-bedroom dwelling, demand for rental properties remains buoyant according to local property management companies.

"Supply is fairly good for tenants as well. Rents have increased over the last year by about five percent with the biggest change in properties in Luggate and Hawea,” Home & Co company owner Colleen Topping told the Wanaka App.

"The average three-bedroom, double garage house in Hawea is between $450 and $490 per week, slightly under the median rent price for all Wanaka / Hawea / Luggate of $500 per week. We have seen Luggate prices now very similar to Wanaka houses with newer three-bedroom houses fetching above $500 per week.”

Colleen said the median price of $500 per week included all three-bedroom houses ranging from a bach with no garage right through to executive-style homes with three car garages and a media room. Many modern, three-bedroom, two bathroom Wanaka homes with a double garage will rent for between $550 and $590 per week on a long term basis.

"Rents for seasonal houses have also increased since last year with furnished three-bedroom homes mainly between $580 and $620 per week excluding utilities. These are typically only rented for about four months from the start of winter.”

A range of rental prices for different area’s provided by Harcourts Property manager Anne Moffat showed Hawea ranging from $270 - $425 a week, Luggate from $380- $495 a week, Albert Town from $260 - $570 and Wanaka from $290 - $880.

The latest bond statistics for the Wanaka region (February 01 – July 31 2017) from the Ministry of Business Innovation and Employment.

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