What's happening with Hastings house prices?

The average price of a Hastings property is $789,576 (CoreLogic, June 2024).

Hastings house prices are down 0.30% over the last three months (REINZ). And they are 2.18% down over the last 12 months.

Hastings house prices soared after the Covid-19 pandemic began. House prices started out 34% below the eventual peak of the market.

However, after that peak in November 2021, house prices fell 16.97% before bottoming out in July 2024.

Today, Hastings house prices are down 16.54% compared to their peak. That means prices have risen 0.51% since the bottom of the market.

At the absolute bottom of its property cycle, Hastings was 24.52% undervalued.

Today, property prices in Hastings are overvalued 10.74%.

That suggests there is a selling opportunity in Hastings.

I track the value of 17 suburbs in Hastings. The most expensive suburb is Eskdale, which has an average house value of $1,110,900. While the most affordable suburb is Flaxmere, which has an average house value of $489,600.

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

I track the value of 17 suburbs in Hastings. The most expensive suburb is Eskdale, which has an average house value of $1,110,900. While the most affordable suburb is Flaxmere, which has an average house value of $489,600.

Over the last 24 months of all Hastings suburbs (June 2022 - June 2024, Camberley had the slowest-falling house prices. They have gone down -1.87% over that period.

The suburb that fell the fastest over that period was Mahora. Property values in this suburb fell by 10.54% over those 2 years.

Here's how rents are changing in Hastings. Over the last four years (April 2020 - April 2024) the median rent has gone up $170 a week. That's 8.69% a year (on average).

Over the last 12 months, rents have gone up. They are up 3.45% ($20 a week) year on year.

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 Hawke's Bay.

Where do house prices go up the fastest in Hastings?

This map lets you find out for yourself.

Each area represents a different suburb, and the colour of the area represents how quickly house prices have increased over the past 20+ years.

The redder the area ... the quicker house prices have grown in that suburb.

Gross yields vary widely depending on which suburb you chose to investigate.

So, which suburbs in the Hastings property market have the highest gross rental yields?

Navigate the map to find the suburbs where houses produce the most cash for their investors.

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 Hawke's Bay property market here.

• Central Hawke's Bay District property market
• Napier City property market
• Wairoa District property market