Property Market
5 min read
What's happening with Wairoa house prices?
Council area of Hawke's Bay
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 Wairoa house prices?
The average price of a Wairoa property is $390,181 (QV, June 2026).
Wairoa house prices are down 26.57% over the last three months (REINZ). And they are 33.11% down over the last 12 months.
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Quick Facts
- The average price of a Wairoa property is $390,181 (QV, June 2026)
- Over the last 3 months property prices in Wairoa have gone down 26.57%
- Wairoa property prices increased 2.89% per year (on average) in the 20 years between June 2006 - June 2026 (REINZ)
- The average rent in Wairoa is $440 per week (Tenancy Services, April 2026)
How are Wairoa property prices changing?
Wairoa house prices soared after the Covid-19 pandemic began. House prices started out 53% below the eventual peak of the market.
However, after that peak in January 2023, house prices fell 52.52% before bottoming out in June 2026.
Today, Wairoa house prices are down 52.52% compared to their peak. That means house prices have not gone up at all and are still falling.
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Where is Wairoa in its property cycle?
At the absolute bottom of its property cycle, Wairoa was 36.60% undervalued.
Today, property prices in Wairoa are overvalued 6.62%.
That suggests there is a selling opportunity in Wairoa.
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Wairoa suburb prices
Over the last 24 months of all Wairoa suburbs (June 2024 - June 2026, had the slowest-falling house prices. They have gone up 0.00% over that period.
The suburb that grew the slowest over that period was . Property values in this suburb grew by 0.00% over those 2 years.
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What is the Wairoa rental market like?
Here's how rents are changing in Wairoa. Over the last four years (April 2022 - April 2026) the median rent has gone up $40 a week. That's 2.41% a year (on average).
Over the last 12 months, rents have gone up. They are up 2.33% ($10 a week) year on year.
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Are properties selling above or below CV in Wairoa?
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 Hawke's Bay.
The area in Hawke's Bay selling the highest vs CV is Central Hawke's Bay District where house prices are current selling 5% above CV.
The area in Hawke's Bay selling the lowest vs CV is Hastings District where house prices are selling 5% below 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 Hawke's Bay property market here. You can also check out our analysis for every other council area in Hawke's Bay 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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