Property hot spots and growth opportunities

An analysis of all residential properties listed on realestate.co.nz during 2023 reveals the Top Five most affordable and highest-priced suburbs within each of New Zealand's main regions. 

Some 90,000 properties were listed for sale across the country in 2023, with prices ranging from the unbelievable '$1 reserve' to the eye-watering $25m plus. 

While average asking prices trended downward during the year (the national average asking price was down by 6.6% year-on-year), the most desirable suburbs continued to buck trends, and equally, there were opportunities to nab a potential bargain in each of the regions.

Find out which suburbs were priced the highest and lowest by region below:

 

Auckland

Auckland 

Most affordable 

Suburb Average asking price
1. Auckland Central $550,047
2. Manukau $627,200
3. Wiri $679,500
4. Port Waikato $697,059
5. Clendon Park $702,021

 

Highest-priced

Suburb Average asking price
1. Waiheke Island $5,225,769
2. Herne Bay $4,304,570
3. Whitford $4,264,730
4. Coatesville $3,942,702
5. Paerata $3,886,992

 

BayofPlenty

Bay of Plenty

Most affordable 

Suburb Average asking price
1. Murupara $262,353
2. Kawerau $441,192
3. Fordlands $452,200
4. Mangakakahi $487,879
5. Koutu $490,667

Highest-priced

Suburb Average asking price
1. Whakamarama $1,835,483
2. Aongatete $1,804,696
3. Te Puna $1,703,545
4. Tauriko $1,654,700
5. Oropi $1,628,700

Waikato-Jun-09-2022-04-37-38-83-AM

Waikato

Most affordable 

Suburb Average asking price
1. Tokoroa $497,958
2. Te Kuiti $533,698
3. Piopio $546,100
4. Kerepehi $552,022
5. Meremere $579,367

Highest-priced

Suburb Average asking price
1. Karapiro $2,435,364
2. Tamahere $2,328,522
3. Matangi $2,087,167
4. Newstead $1,942,538
5. Maramarua $1,805,591

 

Wellington

Wellington

Most affordable 

Suburb Average asking price
1. Cannons Creek $556,292
2. Wellington Central $567,571
3. Otaki Beach $578,809
4. Clouston Park $620,605
5. Taita $628,018

Highest-priced

Suburb Average asking price
1. Pauatahanui $2,658,143
2. Oriental Bay $1,902,285
3. Otaihanga $1,804,538
4. Kaiwharawhara $1,731,000
5. Seatoun $1,620,103

Canterbury Akaroa-871506042

Canterbury

Most affordable 

Suburb Average asking price
1. Glenavy $288,000
2. Hinds $374,818
3. Parkside $443,125
4. Aranui $453,119
5. Kensington $456,000

Highest-priced

Suburb Average asking price
1. Clifton $2,144,300
2. Kennedys Bush $1,900,792
3. Fendalton $1,671,376
4. Ohoka $1,607,317
5. Clarkville $1,571,848

 

iStock-531385793

Otago

Most affordable 

Suburb Average asking price
1. Kaitangata $323,800
2. South Dunedin $432,400
3. Palmerston $440,074
4. Tapanui $444,100
5. Balclutha $447,672

Highest-priced

Suburb Average asking price
1. North Taieri $1,505,667
2. East Taieri $1,266,692
3. Ocean view $1,114,917
4. Vauxhall $1,061,364
5. Saint Clair $1,006,891

For media enquiries, please contact:

Hannah Franklin | hannah@realestate.co.nz

About realestate.co.nz

We’ve been helping people buy, sell, or rent property since 1996.   

Established before Google, realestate.co.nz is New Zealand’s longest-standing property website and the official website of the real estate industry.  

Dedicated only to property, our mission is to empower people 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.  

Want more property insights?

  • Market Insights: Search by suburb to see median sale prices, popular property types and trends over time.
  • Sold properties: Switch your search to sold to see the last 12 months of sales and prices.
  • Valuations: Get a gauge on property prices by browsing sold residential properties, with latest sale prices and an estimated value in the current market.

Find a glossary of terms here.

You Might Also Like

Remarkable: Central Otago Lakes average asking price tops record $1.62 million

A bright start to 2024: new listings significantly lift, and demand rebounds in New Zealand's proper...

Regional property market benefits

The full report can be downloaded here. Low levels of housing stock in some regions of New Zealand a...

NZ Property Report: August 2021

Smouldering demand as New Zealand eagerly awaits spring listing surge and alert level change Another...