Property Market
5 min read
What's happening with Westland house prices?
Council area of West Coast
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 Westland house prices?
The average price of a Westland property is $515,429 (QV, June 2026).
Westland house prices are down 0.99% over the last three months (REINZ). And they are 2.39% up over the last 12 months.
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Quick Facts
- The average price of a Westland property is $515,429 (QV, June 2026)
- Over the last 3 months property prices in Westland have gone down 0.99%
- Westland property prices increased 4.22% per year (on average) in the 20 years between June 2006 - June 2026 (REINZ)
- The average rent in Westland is $538 per week (Tenancy Services, April 2026)
How are Westland property prices changing?
Westland house prices soared after the Covid-19 pandemic began. House prices started out 46% below the eventual peak of the market.
However, after that peak in February 2023, house prices fell 16.30% before bottoming out in August 2023.
Today, Westland house prices are down 7.41% compared to their peak. That means prices have risen 31.21% since the bottom of the market.
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Where is Westland in its property cycle?
At the absolute bottom of its property cycle, Westland was 26.98% undervalued.
Today, property prices in Westland are overvalued 15.70%.
That suggests there is a selling opportunity in Westland.
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Westland suburb prices
Over the last 24 months of all Westland suburbs (June 2024 - June 2026, Hokitika had the fastest-growing house prices. They have gone up 15.34% over that period.
The suburb that grew the slowest over that period was Kaniere. Property values in this suburb grew by 14.25% over those 2 years.
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What is the Westland rental market like?
Here's how rents are changing in Westland. Over the last four years (April 2022 - April 2026) the median rent has gone up $218 a week. That's 13.87% a year (on average).
Over the last 12 months, rents have gone up. They are up 34.50% ($138 a week) year on year.
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Are properties selling above or below CV in Westland?
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 West Coast.
The area in West Coast selling the highest vs CV is Westland District where house prices are current selling 25% above CV.
The area in West Coast selling the lowest vs CV is Grey District where house prices are also selling 7% above 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 West Coast property market here. You can also check out our analysis for every other council area in West Coast 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.
You might like to use us or another financial adviser.