Property Market

5 min read16 Mar 2026

What's happening with Hamilton house prices?

Council area of Waikato

Explore Hamilton's property market for the latest trends, house prices, market cycles, rental yields, and top investment suburbs

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.

Last Updated: 16 Mar 2026

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What's happening to Hamilton house prices?

The average price of a Hamilton property is $792,884 (QV, January 2026).

Hamilton house prices are up 1.94% over the last three months (REINZ). And they are 0.58% up over the last 12 months.

Quick Facts

The average price of a Hamilton property is $792,884 (QV, January 2026)
Over the last 3 months property prices in Hamilton have gone up 1.94%
Hamilton property prices increased 4.62% per year (on average) in the 20 years between February 2006 - February 2026 (REINZ)
The average rent in Hamilton is $560 per week (Tenancy Services, January 2026)

How are Hamilton property prices changing?

Hamilton 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 November 2021, house prices fell 17.24% before bottoming out in May 2023.

Today, Hamilton house prices are down 12.93% compared to their peak. That means prices have risen 5.21% since the bottom of the market.

Where is Hamilton in its property cycle?

At the absolute bottom of its property cycle, Hamilton was 12.93% undervalued.

Today, property prices in Hamilton are undervalued 1.19%.

That suggests there is neither a buying or selling opportunity in Hamilton.

Hamilton suburb prices

I track the value of 35 suburbs in Hamilton. The most expensive suburb is Flagstaff, which has an average house value of $1,089,900. While the most affordable suburb is Bader, which has an average house value of $555,350.

Over the last 24 months of all Hamilton suburbs (January 2024 - January 2026, Queenwood had the fastest-growing house prices. They have gone up 2.48% over that period.

The suburb that fell the fastest over that period was Whitiora. Property values in this suburb fell by 10.35% over those 2 years.

What is the Hamilton rental market like?

Here's how rents are changing in Hamilton. Over the last four years (January 2022 - January 2026) the median rent has gone up $60 a week. That's 2.87% a year (on average).

Over the last 12 months, rents have gone down. They are down 1.75% ($10 a week) year on year.

Are properties selling above or below CV in Hamilton?

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 Waikato.

The area in Waikato selling the highest vs CV is Thames-Coromandel District where house prices are current selling 6% above CV.

The area in Waikato selling the lowest vs CV is Taupo District where house prices are selling 9% below CV.

Where do house prices grow the fastest in the Hamilton property market?

Where do house prices go up the fastest in Hamilton?

This map lets you find out for yourself.

Each area represents a different suburb, and the colour of the area represents how quickly house prices have increased over the past 20+ years.

The redder the area ... the quicker house prices have grown in that suburb.

The suburb in Waikato with the highest capital growth rates between January 2000 and March 2026 was Raglan, which grew at 7.8% per year. (Cotality)

The next highest growth suburbs over the same period was Whangamata (7.2% per year), and Kihikihi (7.2% per year).

Which suburbs in the Hamilton property market have the highest yields?

Gross yields vary widely depending on which suburb you chose to investigate.

So, which suburbs in the Hamilton property market have the highest gross rental yields?

Navigate the map to find the suburbs where houses produce the most cash for their investors.

The suburb in Waikato with the highest capital growth rates between January 2000 and March 2026 was Raglan, which grew at 7.8% per year. (Cotality)

The next highest growth suburbs over the same period was Whangamata (7.2% per year), and Kihikihi (7.2% per year).

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 Waikato property market here.

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Ok, now for the legal bit:

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.

You might like to use us or another financial adviser.