|Housing in the district is a mixture of new subdivisions - especially in the main urban areas of Alexandra, Clyde, Cromwell, Ranfurly and Roxburgh - and character homes. Lifestyle blocks are increasingly popular, and a strong building industry serves the demand for new housing.
Rental housing ranges from $120 to $300 a week depending on locality and size. Overall the mean weekly rental in Central Otago, at $179, is less than the national average of $225 (Census, 2006)
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In Central Otago District the average house price is $305,000, a decrease of 4% in the last 12 months. Average prices vary greatly within the district from Cromwell at $350,000 - $400,000, Alexandra at $300,000 to Ranfurly and Roxburgh at closer to $200,000. Bare residential sections range from $130,000 to $180,000 in Cromwell, Alexandra and Clyde to around $70,000 in Ranfurly and Roxburgh.
Residential properties in Queenstown and Wanaka, in the neighbouring Queenstown Lakes District, average more than $600,000.
Some average sale prices (Oct - Dec 2008) for residential properties in New Zealand’s four main centres are:
- Auckland $494,000;
- Wellington $411,000;
- Christchurch $355,000;
- Dunedin $259,000. (Sources: QV and Central Otago Real Estate Association)