House Prices Nelson | Timaru | Queenstown | Dunedin | Invercargill
Arrowtown in Autumn
| Location | May 2012 | May 2011 | May 2010 | May 2009 | May 2008 | May 2007 |
|---|---|---|---|---|---|---|
| Nelson | $327,000 | $335,000 | $337,000 | $320,000 | $330,000 | $312,000 |
| Rangiora | $345,000 | $318,000 | $292,000 | $295,000 | $315,000 | $287,000 |
| Timaru | $235,000 | $220,000 | $225,750 | $215,000 | $225,000 | $210,000 |
| Queenstown | $520,000 | $500,000 | $510,000 | $510,000 | $550,000 | $520,000 |
| Dunedin | $253,000 | $245,000 | $249,250 | $239,000 | $250,000 | $245,000 |
| Invercargill | $197,000 | $190,000 | $195,000 | $185,000 | $203,000 | $165,000 |
The prices above are medians taken over 12 month periods, sourced by the Real Estate Institute of New Zealand.
According to data from REINZ, average house prices have remained fairly stable over the past few years in South Island towns. Using 12 monthly median data, average house prices in Nelson and Dunedin have increased by less than 5 per cent in five years. Queenstown house prices have returned to the 2007 figure at $520,000. Timaru and Invercargill have seen double digit rises of 12 per cent and 19 per cent respectively over the same period.
Rangiora has shown the biggest increase over five years with a gain of 20 per cent. Most of this increase took place in the last 12 months to May 2012. Rangiora is within comfortable commuting distance of Christchurch but suffers less from the aftershocks that can still occasionally be felt in Christchurch following the February 2011 earthquake.
According to Quotable Value, the average sale price in Dunedin over the three months to May 2012 was $275,220. QV Valuer Tim Gibson said in the May 2012 report: “The typical winter slow down is not yet evident with lower valued properties especially receiving good interest. Perceived affordable housing is helped by the low interest rates but there is still reluctance in the high end of the market.”
Return to the NZ House Prices page.