Property Market
5 min read
What's happening with Stratford house prices?
Council area of Taranaki
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.
What's happening to Stratford house prices?
The average price of a Stratford property is $435,115 (CoreLogic, June 2024).
Stratford house prices are down 4.28% over the last three months (REINZ). And they are 1.10% up over the last 12 months.
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Quick Facts
- The average price of a Stratford property is $435,115 (CoreLogic, August 2024)
- Over the last 3 months property prices in Stratford have gone down 4.28%
- Stratford property prices increased 7.71% per year (on average) in the 20 years between August 2004 - August 2024 (REINZ)
- The average rent in Stratford is $530 per week (Tenancy Services, April 2024)
How are Stratford property prices changing?
Stratford house prices soared after the Covid-19 pandemic began. House prices started out 37% below the eventual peak of the market.
However, after that peak in April 2022, house prices fell 19.30% before bottoming out in April 2023.
Today, Stratford house prices are down 16.69% compared to their peak. That means prices have risen 3.23% since the bottom of the market.
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Where is Stratford in its property cycle?
At the absolute bottom of its property cycle, Stratford was 30.68% undervalued.
Today, property prices in Stratford are overvalued 16.08%.
That suggests there is a selling opportunity in Stratford.
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Stratford suburb prices
I track the value of 1 suburbs in Stratford. The most expensive suburb is Stratford, which has an average house value of $482,400. While the most affordable suburb is Stratford, which has an average house value of $482,400.
I track the value of just 1 suburb in Stratford. It's called Stratford and you can see how the average property value is changing in the graph below.
I track the value of just 1 suburb in Stratford. It's called Stratford and you can see how the average property value is changing in the graph below.
Over the last 24 months of all Stratford suburbs (June 2022 - June 2024, Stratford had the slowest-falling house prices. They have gone down -8.58% over that period.
The suburb that fell the fastest over that period was Stratford. Property values in this suburb fell by 8.58% over those 2 years.
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What is the Stratford rental market like?
Here's how rents are changing in Stratford.
Over the last 12 months, rents have gone up. They are up 6.00% ($30 a week) year on year.
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Are properties selling above or below CV in Stratford?
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.