Waikato Property Market

Is it worth buying a property in Waikato? Explore the data and find out. Last updated 11th January 2021

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 $670,000

As at November 2020, the median house price in Waikato is $670,000. This is up from $315,000 10 years earlier. That means that the median Waikato property increased in value by 7.84% each year, or $35,500 on average.

The most expensive suburb in Waikato is Opito Bay, which has a median house price of $1,208,500 and is located in Thames-Coromandel District. That means that Optio Bay median house price is 1.80x Waikato's median.

The least expensive suburb in Waikato is Tokoroa, which has a median house price of $283,500 and is located in South Waikato District. That means that Tokoroa's median house price is 57.69% cheaper than Waikato's median.

Over the last 21 years (Jan 2000 – Dec 2020), Raglan had the fastest-growing house prices in all of Waikato, at 8.32% per year. That is 13.63% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Omori, which grew at a rate of 5.09% per year. That’s 30.44% slower than the median Waikato house price.

Waikato House Prices Comparison with NZ

Waikato's Median House Price is 3.79% above its long term average

On average, over the last 28 years, Waikato's median house price has been 88.42% 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 September 2020, Waikato's median house price was 91,77% of New Zealand’s median house price. That is 3.79% 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 $907,200. While the most affordable suburb is Bader, which has a median house price of $482,250.

Over the last 21 years of all Hamilton City suburbs (Jan 2000 – Dec 2020), Fitzroy had the fastest-growing house, at 6.81% per year. That is 6.97% 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 5.63% per year. That’s 23.07% 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 Wharewaka, which has a median house price of $1,012,550. While the most affordable suburb is Mangakino, which has a median house price of $328,400.

Over the last 24 months of all Taupo suburbs (Dec 2018 – Dec 2020), Wairakei had the fastest-growing house, at 20.90% per year. That is 68.09% faster than the median Waikato house price over the same period.

The suburb that grew the slowest over that period was Hilltop, which grew at a rate of 6.43% per year. That’s 49.26% 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 $819,600. While the most affordable suburb is Kihikihi, which has a median house price of $513,950.

Over the last 21 years of all Wapia suburbs (Jan 2000 – Mar 2020), Kihikihi had the fastest-growing house, at 7.59% per year. That is 3.63% 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 6.47% per year. That’s 11.69% 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 $846,850. While the most affordable suburb is Meremere, which has a median house price of $389,700.

Over the last 24 months of all Waikato District suburbs (Dec 2018 – Dec 2020), Raglan had the fastest-growing house, at 10.21% per year. That is 17.88% slower than the median Waikato house price over the same period.

The suburb that grew the slowest over that period was Te Kauwhata, which grew at a rate of 1.10% per year. That is 91.19% slower than the median Waikato house price over the same period.

Thames-Coromandel Property Market

Thames-Coromandel Property Market

Thames-Coromandel is made up of 14 suburbs. The most expensive suburb is Opito Bay, which has a median house price of $1,208,500. While the most affordable suburb is Thames, which has a median house price of $525,600.

Over the last 24 months of all Thames-Coromandel suburbs (Dec 2018 – Dec 2020), Wyuna Bay had the fastest-growing house, at 9.48% per year. That is 23.79% slower than the median Waikato house price.

The suburb that grew the slowest over that period was Thames, which grew at a rate of 1.95% per year. That’s 84.33% 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 $580,200. While the most affordable suburb is Te Aroha, which has a median house price of $489,200.

Over the last 21 years of all Matamata-Piako suburbs (Jan 2000 – Dec 2020), Te Aroha had the fastest-growing house, at 6.95% per year. That is 5.03% slower than the median Waikato house price.

The suburb that grew the slowest over that period was Matamata, which grew at a rate of 6.35% per year. That’s 13.25% 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 $434,000. While the most affordable suburb is Tokoroa, which has a median house price of $283,500.

Over the last 24 months of all South Waikato suburbs (Dec 2018 – Dec 2020), Tokoroa had the fastest-growing house, at 16.30% per year. That is 31.09% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Tirau, which grew at a rate of 5.35% per year. That’s 56.99% 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 $406,800.

Over the last 24 months the median Otorohanga house value grew by 12.65%, which is 1.76% faster 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 $530,500. While the most affordable suburb is Kerepehi, which has a median house price of $399,850.

Over the last 24 months of all Hauraki suburbs (Dec 2018 – Dec 2020), Kerepehi had the fastest-growing house, at 12.65% per year. That is 1.72% faster than the median Waikato house price.

The suburb that grew the slowest over that period was Ngatea, which grew at a rate of 5.71% per year. That’s 54.05% slower than the median Waikato house price.

Waitomo Property Market

Waitomo Property Market