Property Market
5 min read
What's happening with South Taranaki house prices?
Council area of Taranaki
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 South Taranaki house prices?
The average price of a South Taranaki property is $455,577 (QV, January 2026).
South Taranaki house prices are down 0.02% over the last three months (REINZ). And they are 1.75% up over the last 12 months.
Loading...
Quick Facts
- The average price of a South Taranaki property is $455,577 (QV, January 2026)
- Over the last 3 months property prices in South Taranaki have gone down 0.02%
- South Taranaki property prices increased 5.27% per year (on average) in the 20 years between January 2006 - January 2026 (REINZ)
- The average rent in South Taranaki is $510 per week (Tenancy Services, December 2025)
How are South Taranaki property prices changing?
South Taranaki house prices soared after the Covid-19 pandemic began. House prices started out 39% below the eventual peak of the market.
However, after that peak in March 2022, house prices fell 15.46% before bottoming out in May 2023.
Today, South Taranaki house prices are down 7.15% compared to their peak. That means prices have risen 10.81% since the bottom of the market.
Loading...
Where is South Taranaki in its property cycle?
At the absolute bottom of its property cycle, South Taranaki was 28.80% undervalued.
Today, property prices in South Taranaki are overvalued 8.51%.
That suggests there is a selling opportunity in South Taranaki.
Loading...
South Taranaki suburb prices
I track the value of 7 suburbs in South Taranaki. The most expensive suburb is Hawera, which has an average house value of $514,400. While the most affordable suburb is Patea, which has an average house value of $308,150.
Over the last 24 months of all South Taranaki suburbs (January 2024 - January 2026, Eltham had the fastest-growing house prices. They have gone up 9.79% over that period.
The suburb that grew the slowest over that period was Patea. Property values in this suburb grew by 0.20% over those 2 years.
Loading...
What is the South Taranaki rental market like?
Here's how rents are changing in South Taranaki. Over the last four years (December 2021 - December 2025) the median rent has gone up $105 a week. That's 5.93% a year (on average).
Over the last 12 months, rents have gone down. They are down 5.56% ($30 a week) year on year.
Loading...
Are properties selling above or below CV in South Taranaki?
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 Taranaki.
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 Taranaki 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.
You might like to use us or another financial adviser.