Property Market
5 min read
What's happening with Waimate 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 Waimate house prices?
The average price of a Waimate property is $451,660 (QV, January 2026).
Waimate house prices are down 2.30% over the last three months (REINZ). And they are 3.09% down over the last 12 months.
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Quick Facts
- The average price of a Waimate property is $451,660 (QV, January 2026)
- Over the last 3 months property prices in Waimate have gone down 2.30%
- Waimate property prices increased 6.11% per year (on average) in the 20 years between February 2006 - February 2026 (REINZ)
- The average rent in Waimate is $ per week (Tenancy Services, January 2026)
How are Waimate property prices changing?
Waimate house prices soared after the Covid-19 pandemic began. House prices started out 40% below the eventual peak of the market.
However, after that peak in March 2023, house prices fell 12.53% before bottoming out in September 2023.
Today, Waimate house prices are down 7.18% compared to their peak. That means prices have risen 6.66% since the bottom of the market.
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Where is Waimate in its property cycle?
At the absolute bottom of its property cycle, Waimate was 29.42% undervalued.
Today, property prices in Waimate are overvalued 21.08%.
That suggests there is a selling opportunity in Waimate.
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Waimate suburb prices
I track the value of just 1 suburb in Waimate. It's called Waimate and you can see how the average property value is changing in the graph below.
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What is the Waimate rental market like?
Here's how rents are changing in Waimate.
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Are properties selling above or below CV in Waimate?
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.
The area in Canterbury selling the highest vs CV is Christchurch City where house prices are current selling 7% above CV.
The area in Canterbury selling the lowest vs CV is Waimate District where house prices are also selling 1% above CV.
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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