What's happening with Carterton house prices?

Council area of Wellington

Explore Carterton'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: 24 Mar 2025

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What's happening to Carterton house prices?

The average price of a Carterton property is $621,334 (CoreLogic, February 2025).

Quick Facts

The average price of a Carterton property is $621,334 (CoreLogic, February 2025)
Over the last 3 months property prices in Carterton have gone down 3.10%
Carterton property prices increased 5.89% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
The average rent in Carterton is $495 per week (Tenancy Services, November 2024)

How are Carterton property prices changing?

Carterton house prices soared after the Covid-19 pandemic began. House prices started out 44% below the eventual peak of the market.

Where is Carterton in its property cycle?

At the absolute bottom of its property cycle, Carterton was 21.53% undervalued.

Carterton suburb prices

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

What is the Carterton rental market like?

Here's how rents are changing in Carterton. Over the last four years (November 2020 - November 2024) the median rent has gone up $105 a week. That's 6.14% a year (on average).

Are properties selling above or below CV in Carterton?

One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (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 Wellington property market here.