What's happening with Southland house prices?

Council area of Southland

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

Author: Ed McKnight

Our 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: 24 Mar 2025

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What's happening to Southland house prices?

The average price of a Southland property is $ (CoreLogic, February 2025).

Quick Facts

The average price of a Southland property is $ (CoreLogic, February 2025)
Over the last 3 months property prices in Southland have gone up 2.02%
Southland property prices increased 6.37% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
The average rent in Southland is $440 per week (Tenancy Services, November 2024)

How are Southland property prices changing?

Southland house prices soared after the Covid-19 pandemic began. House prices started out 31% below the eventual peak of the market.

Where is Southland in its property cycle?

At the absolute bottom of its property cycle, Southland was 22.10% undervalued.

Southland suburb prices

I track the value of 13 suburbs in Southland. The most expensive suburb is Te Anau, which has an average house value of $716,900. While the most affordable suburb is Tuatapere, which has an average house value of $309,450.

Over the last 24 months of all Southland suburbs (February 2023 - February 2025, Halfmoon Bay had the fastest-growing house prices. They have gone up 10.71% over that period.

The suburb that fell the fastest over that period was Riverton. Property values in this suburb fell by 1.86% over those 2 years.

What is the Southland rental market like?

Here's how rents are changing in Southland. Over the last four years (November 2020 - November 2024) the median rent has gone up $160 a week. That's 11.96% a year (on average).

Are properties selling above or below CV in Southland?

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 Southland property market here.