What's happening with Marlborough house prices?

The average price of a Marlborough property is $708,600 (CoreLogic, June 2024).

Marlborough house prices are up 1.78% over the last three months (REINZ). And they are 1.02% down over the last 12 months.

Marlborough house prices soared after the Covid-19 pandemic began. House prices started out 31% below the eventual peak of the market.

However, after that peak in January 2022, house prices fell 11.10% before bottoming out in August 2024.

Today, Marlborough house prices are down 9.51% compared to their peak. That means prices have risen 1.78% since the bottom of the market.

At the absolute bottom of its property cycle, Marlborough was 19.71% undervalued.

Today, property prices in Marlborough are undervalued 2.79%.

That suggests there is neither a buying or selling opportunity in Marlborough.

I track the value of 20 suburbs in Marlborough. The most expensive suburb is Wither Hills, which has an average house value of $1,010,300. While the most affordable suburb is Riversdale, which has an average house value of $549,350.

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

I track the value of 20 suburbs in Marlborough. The most expensive suburb is Wither Hills, which has an average house value of $1,010,300. While the most affordable suburb is Riversdale, which has an average house value of $549,350.

Over the last 24 months of all Marlborough suburbs (June 2022 - June 2024, Rarangi had the fastest-growing house prices. They have gone up 3.32% over that period.

The suburb that fell the fastest over that period was Burleigh. Property values in this suburb fell by 6.27% over those 2 years.

Here's how rents are changing in Marlborough. Over the last four years (October 2020 - October 2024) the median rent has gone up $140 a week. That's 7.46% a year (on average).

Over the last 12 months, rents have gone up. They are up 12.00% ($60 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 Marlborough.

Where do house prices go up the fastest in Marlborough?

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 Marlborough 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 Marlborough property market here.