Rents in Queenstown have had their biggest drop in seven years
Rents in Queenstown have had their biggest drop in seven years
31 July 2020
According to the latest Trade Me Rental Price Index, prices have fallen 28 percent from June last year.
One Roof editor Owen Vaughan says it's apparent that Queenstown is one of the most challenged housing market, post Covid-19.
He says it's because the area is reliant on international tourism spend... which has been cut off.
He says domestic tourists will help prop up the economy, but not to the same level.
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