House Prices in South Island Towns

Town Scene, New Zealand
Arrowtown in Autumn


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

Location May 2015 May 2014 May 2013 May 2012 May 2011 May 2010
Nelson $370,000 $362,000 $345,000 $327,000 $335,000 $337,000
Rangiora $427,000 $422,000 $362,000 $345,000 $318,000 $292,000
Timaru $292,000 $271,000 $252,000 $235,000 $220,000 $225,750
Queenstown $598,000 $554,000 $530,000 $520,000 $500,000 $510,000
Dunedin $272,000 $272,000 $259,000 $253,000 $245,000 $249,250
Invercargill $198,000 $194,000 $197,000 $197,000 $190,000 $195,000

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 risen 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 46 and 30 per cent respectively over five years to May 2015. Dunedin and Invercargill house prices have risen by less than 10 per cent 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 $720,000 over the last three months to June 2015. This is an increase of 8 per cent from a year ago, and above the previous market peak valuation in 2007 of $715,000.

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