Property Market
5 min read
What's happening with Mackenzie 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 Mackenzie house prices?
The average price of a Mackenzie property is $814,635 (QV, January 2026).
Mackenzie house prices are up 1.66% over the last three months (REINZ). And they are 7.54% up over the last 12 months.
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Quick Facts
- The average price of a Mackenzie property is $814,635 (QV, January 2025)
- Over the last 3 months property prices in Mackenzie have gone up 1.66%
- Mackenzie property prices increased 6.54% per year (on average) in the 20 years between December 2005 - December 2025 (REINZ)
- The average rent in Mackenzie is $245 per week (Tenancy Services, November 2025)
How are Mackenzie property prices changing?
Mackenzie house prices soared after the Covid-19 pandemic began. House prices started out 31% below the eventual peak of the market.
However, after that peak in January 2023, house prices fell 25.58% before bottoming out in April 2023.
Today, Mackenzie house prices are down 1.89% compared to their peak. That means prices have risen 31.84% since the bottom of the market.
Where is Mackenzie in its property cycle?
At the absolute bottom of its property cycle, Mackenzie was 43.12% undervalued.
Today, property prices in Mackenzie are overvalued 48.21%.
That suggests there is a selling opportunity in Mackenzie.
Mackenzie suburb prices
I track the value of 2 suburbs in Mackenzie. The most expensive suburb is Twizel, which has an average house value of $742,050. While the most affordable suburb is Twizel, which has an average house value of $742,050.
Over the last 24 months of all Mackenzie suburbs (January 2024 - January 2026, Twizel had the fastest-growing house prices. They have gone up 5.92% over that period.
The suburb that grew the slowest over that period was Twizel. Property values in this suburb grew by 5.92% over those 2 years.
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What is the Mackenzie rental market like?
Here's how rents are changing in Mackenzie. Over the last four years (November 2021 - November 2025) the median rent has gone down $-105 a week. That's -8.53% a year (on average).
Over the last 12 months, rents have gone down. They are down 15.52% ($45 a week) year on year.
Are properties selling above or below CV in Mackenzie?
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.
Current Property Listings
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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