Wanaka's boom has downside

Central Property Trust Ltd registered valuer Iain Weir reviewed the Wanaka property market to discover the median price for a Wanaka house was now $385,000 while the median section price now tops $200,000.

It was difficult to purchase sections under $150,000 or houses for less than $300,000.

"In addition a combination of high living costs and insufficient remuneration rates in Wanaka are squeezing many first home buyers," Mr Weir said.

Rental properties are also affected by high prices.

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