Get on the ladder for under $700k: The regions for buyers on a budget

Author's note: this content was written in November 2022, so listings herein may be sold or out of date 

Despite the national average asking price hovering around $920,000 in October (down from its $1 million peak in January), first-home buyers can finally get on the property ladder at a much more reasonable price point.  

realestate.co.nz spokesperson Vanessa Williams states, “Now is still a good time to buy, with property prices starting to soften. Our advice is to work with a qualified real estate agent who can help you figure out what you are looking for in a home and take a lot of stress out of the process.” 

What’s your budget?  

With around 300,000 searches a month, the most common price range search on realestate.co.nz is between $600,000 - $800,000.  This indicates the budget many New Zealand property seekers are working with. 

So, can you still find a property within that price range?  

Thankfully, more and more budget-friendly options are opening up for first-time buyers all over the country. 

In October, six regions across New Zealand had average asking prices sitting under $700,000:

1. Gisborne ($689,016)
2. Taranaki ($675,330)
3. Manawatu / Wanganui ($652,488)
4. Otago ($649,692)
5. Southland ($512,283)
6. West Coast ($463,184)

Want to know what you could get for your money in each?
Here are some of our latest favourite finds across New Zealand’s most affordable regions: 

Gisborne 

832 Gladstone Road, Te Hapara, Gisborne

Asking price: $697,000 

Something old and something new… this three-bedroom, one-bathroom character home has been lovingly restored to preserve its original features. Long walks on the beach are just a few kilometres away, this home is also perfectly positioned down the road from a golf course and rugby park. 

Taranaki 

9 Fairfax Terrace, Frankleigh Park, New Plymouth 

Asking price: $685,000 

This spacious four-bedroom, two-bathroom family home in New Plymouth comes with plenty of storage, including a rumpus room off the double garage. The property is beautifully elevated with views across to Mt Taranaki from the sun-soaked deck. 

Manawatu / Whanganui 

17A Alma Rd, Gonville, Whanganui 

Asking price:  $699,000  

This four-bedroom, two-bathroom property boasts all the modern creature comforts you could ask for. With generously-sized bedrooms and plenty of schools in the vicinity, this home is the perfect base for a growing family.

Otago 

8a Bruce Street, Roslyn, Dunedin

Asking price: $645,000 

Solid, spacious and understatedly elegant, this home boasts three bedrooms, two bathrooms, and plenty of off-street parking space. This centrally located property is full of character that has been cleverly retained whilst being freshly revived with modern kitchen, bathroom and living areas.  

Southland  

33 Nelson Street Georgetown, Invercargill 

Asking Price: Offers over $470,000 

This brand-new townhouse is complete with three double bedrooms, two bathrooms, and a gorgeous open-plan living area that opens up to a sun-soaked north-facing deck. 

West Coast 

65 Russell Street, Westport

Asking price: $695,000 

This home has been carefully renovated to preserve its original character features and timeless elegance. With five bedrooms, two bathrooms and a double garage, it’s spacious enough for the whole family.  

Ready to find the perfect home? 

As New Zealand’s longest-standing property website, realestate.co.nz’s mission is to empower New Zealanders with a property search tool they can use to find the life they want to live. With residential, lifestyle, rural and commercial property listings, realestate.co.nz is the place to start for those looking to buy or sell property. 

Whatever life you’re searching for, it all starts here.