Nine To Noon Around the motu: Jared McCulloch, 1 News Reporter in Queenstown
Mar 11, 2026
Jared McCulloch, a 1 News reporter in Queenstown covering housing, infrastructure and tourism. He discusses government changes allowing foreign purchases of $5m-plus homes and local market supply. He outlines rising rents hitting nearly $900 weekly in Queenstown. He walks through wastewater treatment challenges and costly upgrade options. He also explores golf tourism growth and land-use tensions with housing.
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$5 Million Rule Targets High-End Market
- The government reopened purchases of homes priced $5m+ to foreign buyers linked to the Active Investor Plus visa to attract capital and know-how.
- Jared noted the market is small: only ~600 eligible NZ properties, concentrated in Queenstown and Auckland, so impact is limited.
Queenstown Rental Prices Reach New Peak
- Queenstown rents hit a national high, averaging more than $900 per week, up 12% year-on-year, pressuring service workers.
- Jared highlighted 1,500–1,600 families on the Community Housing Trust, including police, teachers and hospitality staff.
New Supply Hasn't Lowered Local Prices
- Housing supply increases haven't yet eased prices despite built-to-rent and other schemes coming online.
- Jared said the mayor acknowledges more houses exist but prices haven't fallen, so multiple options are being examined.