Property Market
5 min read
What's happening with Waitomo house prices?
Council area of Waikato
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 Waitomo house prices?
The average price of a Waitomo property is $399,409 (QV, January 2026).
Waitomo house prices are up 10.87% over the last three months (REINZ). And they are 6.16% up over the last 12 months.
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Quick Facts
- The average price of a Waitomo property is $399,409 (QV, January 2026)
- Over the last 3 months property prices in Waitomo have gone up 10.87%
- Waitomo property prices increased 5.35% per year (on average) in the 20 years between January 2006 - January 2026 (REINZ)
- The average rent in Waitomo is $470 per week (Tenancy Services, December 2025)
How are Waitomo property prices changing?
Waitomo house prices soared after the Covid-19 pandemic began. House prices started out 38% below the eventual peak of the market.
However, after that peak in March 2023, house prices fell 28.08% before bottoming out in August 2024.
Today, Waitomo house prices are down 12.92% compared to their peak. That means prices have risen 21.07% since the bottom of the market.
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Where is Waitomo in its property cycle?
At the absolute bottom of its property cycle, Waitomo was 33.06% undervalued.
Today, property prices in Waitomo are overvalued 14.86%.
That suggests there is a selling opportunity in Waitomo.
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Waitomo suburb prices
I track the value of just 1 suburb in Waitomo. It's called Te Kuiti and you can see how the average property value is changing in the graph below.
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What is the Waitomo rental market like?
Here's how rents are changing in Waitomo. Over the last four years (December 2021 - December 2025) the median rent has gone up $140 a week. That's 9.24% a year (on average).
Over the last 12 months, rents have gone up. They are up 22.72% ($87 a week) year on year.
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Are properties selling above or below CV in Waitomo?
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.
The area in Waikato selling the highest vs CV is Matamata-Piako District where house prices are current selling 2% above CV.
The area in Waikato selling the lowest vs CV is Hauraki District where house prices are selling 9% below CV.
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.
- Hamilton City property market
- Hauraki District property market
- Matamata-Piako District property market
- Otorohanga District property market
- South Waikato District property market
- Taupo District property market
- Thames-Coromandel District property market
- Waikato District property market
- Waipa District property market
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.