Southland Property Market

Introduction

Looking to Invest or buy a property in Southland?

This article breaks down all the most essential facts about the Southland property market.

The Southland property market is made up of 3 districts and 38 suburbs. These districts are Gore, Invercargill City and Southland.

Median Southland House Price

Southland's Median House Price is $415,000

As at May 2020, the median house price in Southland is $345,000. This is up from $192,000 10 years earlier. That means that the median Southland property increased in value by 6.04% each year, or $15,300 on average.

The most expensive suburb in Southland is Rosedale, which has a median house price of $553,050 and is located in Invercargill City district. That means that Rosedale's median house price is 1.60x Southland's median.

The least expensive suburb in Southland is Lumsden, which has a median house price of $219,750 and is located in Southland district. That means that Lumsden's median house price is 36.30% cheaper than Southland's median.

Over the last 20 years (Jan 2000 – Mar 2020), Strathern had the fastest-growing house prices in all of Southland, at 9.02% per year. That is 0.61% faster than the median Southland house price.

The suburb that grew the slowest over that period was Gladstone, which grew at a rate of 6.78% per year. That’s 24.38% slower than the median Southland house price.

Southland House Prices Comparison with NZ

Southland House Prices Comparison with NZ

On average, over the last 27 years, Southland's median house price has been 47.23% of New Zealand’s median house price.

Assuming the long term fundamentals of either property market have not changed, Southland's median house price should trackback to this long term average.

That suggests that when Southland's median house price is below its long term average, there is a buying opportunity. When Southland's median house price is above its long term average, there are buying opportunities in other regions.

As of Dec 2019, Southland's median house price was 52.7% of New Zealand’s median house price. That is 11.58% above its long term ratio, which suggests there is likely buying opportunities outside of the Southland region.

Invercargill City Property Market

Invercargill CIty Property Market

Invercargill City is made up of 23 suburbs. The most expensive suburb is Rosedale, which has a median house price of $553,050. While the most affordable suburb is Appleby, which has a median house price of $225,900.

Over the last 20 years of all Incervargill City suburbs (Jan 2000 – Mar 2020), Strathern had the fastest-growing house prices, at 9.02% per year. That is 0.61% faster than the median Southland house price.

The suburb that grew the slowest over that period was Gladstone, which grew at a rate of 6.78% per year. That’s 24.38% slower than the median Southland house price.

Southland District Property Market

Southland District Property Market

Southland district is made up of 12 suburbs. The most expensive suburb is Te Anau, which has a median house price of $515,850. While the most affordable suburb is Lumsden, which has a median house price of $219,750.

Over the last 12 months of all Southland district suburbs (Mar 2019 – Mar 2020), Wallacetown had the fastest-growing house prices, at 22.43% per year. That is 11.78% slower than the median Southland house price over the same period.

The suburb that grew the slowest over that period was Te Anau, which grew at a rate of 12.34% per year. That’s 51.48% slower than the median Southland house price.

Gore Property Market

Gore Property Market

Gore is made up of 3 suburbs. The most expensive suburb is Gore, which has a median house price of $298,650 (March, 2020). While the most affordable suburb is Mataura, which had a median house price of $127,600 as at June 2019.

Over the last 17 years of all Gore suburbs (Jan 2003 – Mar 2020), East Gore had the fastest-growing house prices, at 8.97% per year. That is 17.04% faster than the median Southland house price.

The suburb that grew the slowest over that period was Gore, which grew at a rate of 7.03% per year. That’s 34.95% slower than the median Southland house price.

Other Property Markets

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 Auckland property market, the Wellington property market and the Christchurch property market by clicking any of the links mentioned here.