Property Market
5 min read
What's happening with Manawatu house prices?
Council area of Manawatu-Wanganui
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 Manawatu house prices?
The average price of a Manawatu property is $609,315 (QV, October 2025).
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Quick Facts
- The average price of a Manawatu property is $609,315 (QV, October 2025)
- Over the last 3 months property prices in Manawatu have gone up 0.65%
- Manawatu property prices increased 5.56% per year (on average) in the 20 years between October 2005 - October 2025 (REINZ)
- The average rent in Manawatu is $590 per week (Tenancy Services, September 2025)
How are Manawatu property prices changing?
Manawatu house prices soared after the Covid-19 pandemic began. House prices started out 33% below the eventual peak of the market.
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Where is Manawatu in its property cycle?
At the absolute bottom of its property cycle, Manawatu was 23.52% undervalued.
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Manawatu suburb prices
I track the value of suburbs in Manawatu. The most expensive suburb is , which has an average house value of $. While the most affordable suburb is , which has an average house value of $.
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What is the Manawatu rental market like?
Here's how rents are changing in Manawatu. Over the last four years (September 2021 - September 2025) the median rent has gone up $155 a week. That's 7.92% a year (on average).
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Are properties selling above or below CV in Manawatu?
One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (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 Manawatu-Wanganui property market here.