Property Market
5 min read
What's happening with Carterton house prices?
Council area of Wellington
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 Carterton house prices?
The average price of a Carterton property is $597,699 (QV, January 2026).
Carterton house prices are up 0.50% over the last three months (REINZ). And they are 0.12% up over the last 12 months.
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Quick Facts
- The average price of a Carterton property is $597,699 (QV, January 2026)
- Over the last 3 months property prices in Carterton have gone up 0.50%
- Carterton property prices increased 5.74% per year (on average) in the 20 years between January 2006 - January 2026 (REINZ)
- The average rent in Carterton is $528 per week (Tenancy Services, December 2025)
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.
However, after that peak in February 2022, house prices fell 29.56% before bottoming out in July 2025.
Today, Carterton house prices are down 27.88% compared to their peak. That means prices have risen 2.39% since the bottom of the market.
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Where is Carterton in its property cycle?
At the absolute bottom of its property cycle, Carterton was 21.75% undervalued.
Today, property prices in Carterton are overvalued 9.77%.
That suggests there is a selling opportunity in Carterton.
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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.
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What is the Carterton rental market like?
Here's how rents are changing in Carterton. Over the last four years (December 2021 - December 2025) the median rent has gone up $78 a week. That's 4.08% a year (on average).
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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)?'
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 Wellington.
The area in Wellington selling the highest vs CV is Kapiti Coast District where house prices are current selling 4% above CV.
The area in Wellington selling the lowest vs CV is Porirua City where house prices are selling 6% 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 Wellington property market here.
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.
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