Otago
Wanaka
The understated alpine town over the Crown Range: same southern lakes and ski fields, half the crowds.
Price band
Townhouses from NZ$900k; houses NZ$1.5m-3.5m; lakefront well beyond
Getting there
An hour from Queenstown Airport over the Crown Range.
Wanaka is what people who've done their Queenstown years graduate to. The lake is vast and still, Treble Cone and Cardrona are on the doorstep, and the town has kept a local, unhurried character that Queenstown traded for its airport. Australians who buy here tend to have skied both and chosen the quieter chairlift queue.
What's the market like? Tighter than Queenstown's. Fewer listings, fewer apartments, more standalone homes. And it's been one of New Zealand's strongest-performing towns over the past decade, as remote work made alpine living permanent for some owners. Townhouses start around NZ$900k, good family homes run NZ$1.5m to $3.5m, and anything touching the lake is trophy territory.
Getting here mirrors Queenstown. Fly there direct from Australia, then an hour's alpine drive that's part of the appeal. Short-stay demand is solid in both seasons, without Queenstown's intensity.
If you want the southern lakes at a slightly gentler price with a stronger community feel, Wanaka is usually the answer.
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Questions we get asked about Wanaka
Can Australians buy property in Wanaka?
Wanaka or Queenstown - which suits an Australian buyer better?
Is Wanaka good for rental income?
Thinking about Wanaka?
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