House Prices in South Island Towns

Town Scene, New Zealand
Arrowtown in Autumn


House Prices in Nelson / Timaru / Queenstown / Dunedin / Invercargill

Location May 2013 May 2012 May 2011 May 2010 May 2009 May 2008
Nelson $345,000 $327,000 $335,000 $337,000 $320,000 $330,000
Rangiora $362,000 $345,000 $318,000 $292,000 $295,000 $315,000
Timaru $252,000 $235,000 $220,000 $225,750 $215,000 $225,000
Queenstown $530,000 $520,000 $500,000 $510,000 $510,000 $550,000
Dunedin $259,000 $253,000 $245,000 $249,250 $239,000 $250,000
Invercargill $197,000 $197,000 $190,000 $195,000 $185,000 $203,000

Market Analysis

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 Rangiora and Timaru have seen prices rise by 15 and 12 per cent respectively over five years to May 2013. Queenstown and Invercargill house prices have fallen slightly over the same period.

Figures from Quotable Value show that Queenstown Lakes area has the most expensive property values in the South Island. Properties had an average value of $633,000 over the last three months to May 2013. This is an increase of 4 per cent from a year ago, but still over 11 per cent below the market peak valuation in 2007 of $715,000.

Return to the NZ House Prices page.


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