Property Market
5 min read
What's happening with Hurunui house prices?
Council area of Canterbury
Author: Ed McKnight
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 Hurunui house prices?
The average price of a Hurunui property is $652,601 (QV, January 2026).
Hurunui house prices are up 0.34% over the last three months (REINZ). And they are 1.10% up over the last 12 months.
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Quick Facts
- The average price of a Hurunui property is $652,601 (QV, January 2025)
- Over the last 3 months property prices in Hurunui have gone up 0.34%
- Hurunui property prices increased 4.78% per year (on average) in the 20 years between December 2005 - December 2025 (REINZ)
- The average rent in Hurunui is $550 per week (Tenancy Services, November 2025)
How are Hurunui property prices changing?
Hurunui house prices soared after the Covid-19 pandemic began. House prices started out 38% below the eventual peak of the market.
However, after that peak in March 2022, house prices fell 14.27% before bottoming out in May 2022.
Today, Hurunui house prices are down 3.52% compared to their peak. That means prices have risen 15.11% since the bottom of the market.
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Where is Hurunui in its property cycle?
At the absolute bottom of its property cycle, Hurunui was 21.38% undervalued.
Today, property prices in Hurunui are overvalued 8.08%.
That suggests there is a selling opportunity in Hurunui.
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Hurunui suburb prices
I track the value of 4 suburbs in Hurunui. The most expensive suburb is Hanmer Springs, which has an average house value of $836,250. While the most affordable suburb is Leithfield, which has an average house value of $603,550.
Over the last 24 months of all Hurunui suburbs (January 2024 - January 2026, Hanmer Springs had the fastest-growing house prices. They have gone up 5.22% over that period.
The suburb that grew the slowest over that period was Leithfield. Property values in this suburb grew by 1.34% over those 2 years.
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What is the Hurunui rental market like?
Here's how rents are changing in Hurunui. Over the last four years (November 2021 - November 2025) the median rent has gone up $220 a week. That's 13.62% a year (on average).
Over the last 12 months, rents have gone up. They are up 19.57% ($90 a week) year on year.
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Are properties selling above or below CV in Hurunui?
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 Canterbury.
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 Canterbury property market here.
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This property market information is for your general information. It’s not financial advice. See here for details about our Financial Advice Provider Disclosure. So Opes isn’t telling you what to do with your own money.
We’ve made every effort to make sure the information is accurate. But property markets change, and we occasionally get the odd fact wrong. Make sure you do your own research or talk to a financial adviser before making any investment decisions.
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