According to the Real Estate Institute of New Zealand (REINZ), New Zealand’s median property price is NZ$597,000 (£295,000) in October 2019. This is an increase of 6.8% over the past year. Auckland remains the priciest spot in the country, with a median price of just under $850,000. However, outside of the city, there are real bargains located in some of New Zealand’s most scenic destinations. To let you in on where those bargains are, today we’re running through five places to find the cheapest homes in New Zealand.
1 – Whanganui, North Island
If you’ve spent any time googling where to find the cheapest homes in New Zealand, the North Island city of Whanganui would have been top of that search. This lovely spot is one of the most affordable places in the country. It also boasts a rich heritage, thriving economy and access to some of New Zealand’s most incredible natural wonders. Whanganui is also known for offering a relaxed lifestyle, which is often a rarity in growing cities.
The REINZ report states that the average property price in Manawatu/ Whanganui region is $330,000. Three-bedroom houses with decent gardens in central locations start at $269,000.
2 – Greymouth, West Coast, South Island
Greymouth is a small and welcoming town close to some of the South Island’s most beautiful spots. Spend days lounging on the shore of Lake Brunner, or attempting to catch your dinner. Visit Paparoa National Park, or you hike or bike the West Coast Wilderness Trail. Furthermore, Greymouth’s location in the Southern Alps allows for views of Mount Cook on clear days.
Spend days lounging on the shore of Lake Brunner, or attempting to catch your dinner. Visit Paparoa National Park, or you hike or bike the West Coast Wilderness Trail.
With a median price of $210,000, New Zealand’s West Coast region is where you’ll find some of the cheapest homes in New Zealand. In Greymouth, a six-bed family home on a large plot will set you back $449,000.
Whanganui, North Island
Greymouth, West Coast, South Island, New Zealand
Gisborne, North Island, New Zealand
Invercargill, South Island, New Zealand
Taranaki, North Island, New Zealand
3 – Gisborne, North Island
If you enjoy getting a good start on the day, there’s no better spot in New Zealand than Gisborne – the first city in the world to greet the sun each morning! Also, this area is best-known for wineries, surf beaches, great food and rich indigenous culture. Kaiti Beach is the site of Captain Cook’s first landing in New Zealand all the way back in 1769. Chardonnay lovers, hold onto your hats – Gisborne is also the unofficial ‘Chardonnay Capital of New Zealand’!
The median price in Gisborne is $330,000. Four-bed properties with ocean views start from $369,000.
Start off on the right foot and get yourself the best deal with our guide, How to Negotiate Abroad.
4 – Invercargill, South Island
Invercargill is the closest city to New Zealand’s southernmost tip. As well as being affordable, the city’s nickname is the ‘City of Water and Light’ – due to its long summer days and frequent appearances of the Aurora Australis (The Southern Lights to you and I). Additionally, this is a laid-back spot is located on the idyllic Waihopai River estuary. You’ll be able to enjoy lively bars, cafés and restaurants and exploring the areas parks and nature reserves.
Southland has some of the cheapest homes in New Zealand. The median price is currently $249,000. You can buy a four-bedroom, two-bathroom house, in the centre of Invercargill, for $429,000.
The city’s nickname is the ‘City of Water and Light’ – due to its long summer days and frequent appearances of the Aurora Australis (The Southern Lights to you and I).
5 – Taranaki, North Island
Taranaki in the North Island is a coastal, mountainous, tropical paradise. You will enjoy views of Mount Taranaki, a volcano nestled in the rainforests of Egmont National Park, which dominates the skyline. In addition, this region is home to excellent ski resorts and beaches, where you can find some of the best surf in the country. Head to New Plymouth to enjoy the nightlife or to explore the areas lakes, coastal walks and manicured gardens.
The median property price in the Taranaki area is $345,000. You can find a four-bedroom colonial-style villa for $369,000.
It’s important to consider your finances when moving to New Zealand, but you equally shouldn’t need to bust the bank. Property in the country can be much more affordable than you might expect. If you’re looking to buy in New Zealand soon, make sure to keep up-to-date with New Zealand Property Guides for the latest information. And don’t forget to get your copy of the comprehensive guide below, simply by filling in the form.
The New Zealand Buying Guide takes you through each stage of the property buying process, with practical recommendations from our experts who have been through the process themselves. The guide will help you to: