PHOTO: STUFF In March, there was a “staggering” 84 per cent increase in the number of rental properties listed on Trade Me in the Queenstown-Lakes district.
Rents at some Queenstown rental properties have been slashed by half as landlords try to pay bills and entice tenants.
Accommodation in the popular resort town had been among the most expensive in the country pre-Covid-19, making rentals difficult to afford for low-wage workers especially.
In February, the median weekly rent in the Queenstown-Lakes district was $750, remaining relatively flat on the same month in 2019.
In March, that dropped by 11 per cent to $655. In April, it dipped further to $650 per week, down 13 per cent when compared to the same month in 2019.
Landlord Bob Tovey said five of his properties had sat empty since just before the country went into lockdown.
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