Property Market
5 min read
What's happening with Central Otago house prices?
Council area of Otago
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 Central Otago house prices?
The average price of a Central Otago property is $886,090 (QV, January 2026).
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Quick Facts
- The average price of a Central Otago property is $886,090 (QV, January 2025)
- Over the last 3 months property prices in Central Otago have gone up 3.71%
- Central Otago property prices increased 5.50% per year (on average) in the 20 years between December 2005 - December 2025 (REINZ)
- The average rent in Central Otago is $600 per week (Tenancy Services, November 2025)
How are Central Otago property prices changing?
Central Otago house prices soared after the Covid-19 pandemic began. House prices started out 30% below the eventual peak of the market.
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Where is Central Otago in its property cycle?
At the absolute bottom of its property cycle, Central Otago was 27.13% undervalued.
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Central Otago suburb prices
I track the value of suburbs in Central Otago. 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 Central Otago rental market like?
Here's how rents are changing in Central Otago. Over the last four years (November 2021 - November 2025) the median rent has gone up $140 a week. That's 6.87% a year (on average).
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Are properties selling above or below CV in Central Otago?
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 Otago 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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