Despite an average of 1350 new dwellings consented each year over the past five years, rents in Queenstown Lakes are the highest in the country. PHOTO: ODT FILESAt nearly $900 a week, rents in Otago’s Central Lakes area are the most expensive in New Zealand. Data from property website realestate.co.nz shows the average weekly rent in Queenstown Lakes-Central Otago last month was $891, up 11.8% on December 2024. That compares to the national average rent, which fell 2.4% year on year to $626 a week. In contrast, the website’s national rental report for December showed 13 of the country’s 19 regions experienced declines in average rents over the past 12 months.

Source: Otago Daily Times January 08, 2026 21:34 UTC