What's happening with Otorohanga house prices?

Council area of Waikato

Explore Otorohanga'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: 11 Oct 2024

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What's happening to Otorohanga house prices?

The average price of an Otorohanga property is $514,167 (CoreLogic, June 2024).

Otorohanga house prices are up 34.63% over the last three months (REINZ). And they are 24.82% up over the last 12 months.

Quick Facts

The average price of an Otorohanga property is $514,167 (CoreLogic, August 2024)
Over the last 3 months property prices in Otorohanga have gone up 34.63%
Otorohanga property prices increased 9.44% per year (on average) in the 20 years between August 2004 - August 2024 (REINZ)
The average rent in Otorohanga is $465 per week (Tenancy Services, April 2024)

How are Otorohanga property prices changing?

Otorohanga house prices soared after the Covid-19 pandemic began. House prices started out 50% below the eventual peak of the market.

However, after that peak in April 2022, house prices fell 39.32% before bottoming out in November 2023.

Today, Otorohanga house prices are down 5.95% compared to their peak. That means prices have risen 54.98% since the bottom of the market.

Where is Otorohanga in its property cycle?

At the absolute bottom of its property cycle, Otorohanga was 23.46% undervalued.

Today, property prices in Otorohanga are overvalued 19.81%.

That suggests there is a selling opportunity in Otorohanga.

Otorohanga suburb prices

I track the value of 2 suburbs in Otorohanga. The most expensive suburb is Otorohanga, which has an average house value of $488,250. While the most affordable suburb is Otorohanga, which has an average house value of $488,250.

I track the value of just 1 suburb in Otorohanga. It's called Otorohanga and you can see how the average property value is changing in the graph below.

Over the last 24 months of all Otorohanga suburbs (June 2022 - June 2024, Otorohanga had the slowest-falling house prices. They have gone down -9.11% over that period.

The suburb that fell the fastest over that period was Otorohanga. Property values in this suburb fell by 9.11% over those 2 years.

What is the Otorohanga rental market like?

Here's how rents are changing in Otorohanga.

Over the last 12 months, rents have gone up. They are up 27.40% ($100 a week) year on year.

Are properties selling above or below CV in Otorohanga?

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 Waikato.

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 Waikato property market here.