What is the current house price-to-income ratio in the Queenstown Lakes district, if any, and what target, if any, does the Government hold for reducing it?

Answer

According to Census 2023, the median household income in Queenstown was $125,600. This is the most recent official data available. According to MCERT's Property and Sales Statistics dashboard, the median sales price for the 12 months to March 2023 was $1,265,000. Based on a this would equate to a house price to household income of 10. The Government does not have a target relating to the price-to-income ratio in Queenstown. However, Queenstown is required under the National Policy Statement – Urban Development to enable sufficient development capacity to respond to expected demand for housing. Where supply is responsive to demand, this moderates the impact of demand on prices and makes housing more affordable.