Property Market
5 min read
What's happening with Kawerau house prices?
Council area of Bay of Plenty
Author: Ed McKnight
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Reviewed by: Laine Moger
Journalist and Property Educator with six years of experience, holds a Bachelor of Communication (Honours) from Massey University.
What's happening to Kawerau house prices?
The average price of a Kawerau property is $401,399 (CoreLogic, June 2024).
Kawerau house prices are down 10.04% over the last three months (REINZ). And they are 17.17% down over the last 12 months.
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Quick Facts
- The average price of a Kawerau property is $401,399 (CoreLogic, September 2024)
- Over the last 3 months property prices in Kawerau have gone down 10.04%
- Kawerau property prices increased 6.92% per year (on average) in the 20 years between September 2004 - September 2024 (REINZ)
- The average rent in Kawerau is $490 per week (Tenancy Services, April 2024)
How are Kawerau property prices changing?
Kawerau house prices soared after the Covid-19 pandemic began. House prices started out 32% below the eventual peak of the market.
However, after that peak in April 2022, house prices fell 36.78% before bottoming out in July 2022.
Today, Kawerau house prices are down 28.51% compared to their peak. That means prices have risen 13.09% since the bottom of the market.
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Where is Kawerau in its property cycle?
At the absolute bottom of its property cycle, Kawerau was 46.97% undervalued.
Today, property prices in Kawerau are overvalued 25.56%.
That suggests there is a selling opportunity in Kawerau.
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Kawerau suburb prices
I track the value of 1 suburbs in Kawerau. The most expensive suburb is Kawerau, which has an average house value of $389,750. While the most affordable suburb is Kawerau, which has an average house value of $389,750.
I track the value of just 1 suburb in Kawerau. It's called Kawerau and you can see how the average property value is changing in the graph below.
I track the value of just 1 suburb in Kawerau. It's called Kawerau and you can see how the average property value is changing in the graph below.
Over the last 24 months of all Kawerau suburbs (June 2022 - June 2024, Kawerau had the slowest-falling house prices. They have gone down -10.51% over that period.
The suburb that fell the fastest over that period was Kawerau. Property values in this suburb fell by 10.51% over those 2 years.
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What is the Kawerau rental market like?
Here's how rents are changing in Kawerau.
Over the last 12 months, rents have gone up. They are up 2.08% ($10 a week) year on year.
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Are properties selling above or below CV in Kawerau?
One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (CV)?”
Some call it the RV (Rateable Value) or GV (Government Value).
Why do people care? Well, if you go on TradeMe (or another website), you’ll almost always see the council’s valuation for the property. So even if the seller hasn't advertised a price, you can get a feel for what the property might sell for.
This table shows whether the average property is selling above or below CV across Bay of Plenty.
Other property markets to look into
If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. You can read all about the Bay of Plenty property market here.