Waikato Property Market

Introduction

Looking to Invest or buy a property in Waikato?

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

The Waikato property market is made up of 10 districts and 98 suburbs. These districts are Hamilton City, Thames-Coromandel, Hauraki, Taupo, Matamata-Piako, Waikato district, Waitomo, South Waikato, Waipa and Otorohanga.

Median Waikato House Price

Waikato's Median House Price is $598,000

As at May 2020, the median house price in Waikato is $598,000. This is up from $315,000 10 years earlier. That means that the median Waikato property increased in value by 6.62% each year, or $28,300 on average.

The most expensive suburb in Waikato is Hahei, which has a median house price of $1,115,150 and is located in Thames-Coromandel District. That means that Hahei median house price is 1.86x Waikato's median.

The least expensive suburb in Waikato is Tokoroa, which has a median house price of $252,300 and is located in South Waikato District. That means that Tokoroa's median house price is 57.81% cheaper than Waikato's median.

Over the last 20 years (Jan 2000 – Mar 2020), Raglan had the fastest-growing house prices in all of Waikato, at 7.98% per year. That is 16.67% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Omori, which grew at a rate of 4.64% per year. That’s 32.09% slower than the median Waikato house price.

Waikato House Prices Comparison with NZ

Waikato House Prices Comparison with NZ

On average, over the last 27 years, Waikato's median house price has been 88.35% of New Zealand’s median house price.

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

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

As of Dec 2019, Waikato's median house price was 93.33% of New Zealand’s median house price. That is 5.64% above its long term ratio, which suggests there may be a buying opportunity outside of the Waikato area.

Hamilton City Property Market

Hamilton City Property Market

Hamilton City is made up of 34 suburbs. The most expensive suburb is Harrowfield, which has a median house price of $853,950. While the most affordable suburb is Bader, which has a median house price of $436,900.

Over the last 20 years of all Hamilton City suburbs (Jan 2000 – Mar 2020), Fitzroy had the fastest-growing house, at 6.63% per year. That is 2.99% slower than the median Waikato house price.

The suburb that grew the slowest over that period was Grandview Heights, which grew at a rate of 5.47% per year. That’s 20.01% slower than the median Waikato house price.

Taupo Property Market

Taupo Property Market

Taupo is made up of 19 suburbs. The most expensive suburb is Acacia Bay, which has a median house price of $835,400. While the most affordable suburb is Mangakino, which has a median house price of $285,850.

Over the last 12 months of all Taupo suburbs (Mar 2019 – Mar 2020), Turangi had the fastest-growing house, at 14.16% per year. That is 41.58% faster than the median Waikato house price over the same period.

The suburb that grew the slowest over that period was Omori, which grew at a rate of 1.15% per year. That’s 98.85% slower than the median Waikato house price.

Waipa Property Market

Waipa Property Market

Waipa is made up of 6 suburbs. The most expensive suburb is Cambridge, which has a median house price of $767,200. While the most affordable suburb is Kihikihi, which has a median house price of $470,900.

Over the last 20 years of all Wapia suburbs (Jan 2000 – Mar 2020), Kihikihi had the fastest-growing house, at 7.38% per year. That is 8.00% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Te Awamutu, which grew at a rate of 6.26% per year. That’s 8.43% slower than the median Waikato house price.

Waikato Property Market

Waikato Property Market

Waikato District is made up of 12 suburbs. The most expensive suburb is Buckland, which has a median house price of $807,900. While the most affordable suburb is Meremere, which has a median house price of $362,650.

Over the last 12 months of all Waikato District suburbs (Mar 2019 – Mar 2020), Raglan had the fastest-growing house, at 7.49% per year. That is 25.06% slower than the median Waikato house price over the same period.

The suburb that grew the slowest over that period was Meremere, which grew at a rate of -0.32% per year. That makes Meremere the only suburb in the district where the median house value decreased year on year.

Thames-Coromandel Property Market

Thames-Coromandel Property Market

Thames-Coromandel is made up of 14 suburbs. The most expensive suburb is Hahei, which has a median house price of $1,115,150. While the most affordable suburb is Coromandel, which has a median house price of $527,600.

Over the last 20 years of all Thames-Coromandel suburbs (Jan 2000 – Mar 2020), Whangamata had the fastest-growing house, at 7.17% per year. That is 4.93% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Coromandel, which grew at a rate of 6.02% per year. That’s 11.98% slower than the median Waikato house price.

Matamata-Piako Property Market

Matamata-Piako Property Market

Matamata-Piako is made up of 3 suburbs. The most expensive suburb is Matamata, which has a median house price of $542,800. While the most affordable suburb is Te Aroha, which has a median house price of $461,050.

Over the last 20 years of all Matamata-Piako suburbs (Jan 2000 – Mar 2020), Te Aroha had the fastest-growing house, at 6.88% per year. That is 0.60% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Matamata, which grew at a rate of 6.22% per year. That’s 9.04% slower than the median Waikato house price.

South Waikato Property Market

South Waikato Property Market

South Waikato is made up of 3 suburbs. The most expensive suburb is Tirau, which has a median house price of $425,650. While the most affordable suburb is Tokoroa, which has a median house price of $252,300.

Over the last 12 months of all South Waikato suburbs (Mar 2019 – Mar 2020), Tokoroa had the fastest-growing house, at 15.21% per year. That is 52.05% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Putaruru, which grew at a rate of 3.65% per year. That’s 63.51% slower than the median Waikato house price.

Otorohanga Property Market

Otorohanga Property Market

The Otorohanga District is made up of 1 suburb, also named Otorohanga, which has a median house price of $356,750.

Over the last 12 months the median Otorohanga house value grew by 6.51%, which is 34.9% slower than the median Waikato house price over the same period.

Hauraki Property Market

Hauraki Property Market

Hauraki is made up of 5 suburbs. The most expensive suburb is Ngatea, which has a median house price of $507,500. While the most affordable suburb is Kerepehi, which has a median house price of $349,000.

Over the last 12 months of all Hauraki suburbs (Mar 2019 – Mar 2020), Paeroa had the fastest-growing house, at 7.81% per year. That is 21.86% slower than the median Waikato house price.

The suburb that grew the slowest over that period was Kerepehi, which grew at a rate of 5.50% per year. That’s 44.98% slower than the median Waikato house price.

Waitomo Property Market

Waitomo Property Market

The Waitomo District is made up of 1 suburb, Te Kuiti, which has a median house price of $256,450.

Over the last 20 Years (Jun 2000 – Mar 2020) the median Te Kuiti house value grew by 6.52%, which is 8.41% slower than the median Waikato house price over the same period.

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.