Property Market
5 min read
What's happening with Kaipara house prices?
Council area of Northland
Author: Ed McKnight
Our 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 Kaipara house prices?
The average price of a Kaipara property is $867,430 (CoreLogic, June 2024).
Kaipara house prices are up 0.91% over the last three months (REINZ). And they are 5.48% down over the last 12 months.
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Quick Facts
- The average price of a Kaipara property is $867,430 (CoreLogic, September 2024)
- Over the last 3 months property prices in Kaipara have gone up 0.91%
- Kaipara property prices increased 6.29% per year (on average) in the 20 years between September 2004 - September 2024 (REINZ)
- The average rent in Kaipara is $555 per week (Tenancy Services, April 2024)
How are Kaipara property prices changing?
Kaipara house prices soared after the Covid-19 pandemic began. House prices started out 44% below the eventual peak of the market.
However, after that peak in January 2022, house prices fell 22.95% before bottoming out in August 2024.
Today, Kaipara house prices are down 17.95% compared to their peak. That means prices have risen 6.49% since the bottom of the market.
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Where is Kaipara in its property cycle?
At the absolute bottom of its property cycle, Kaipara was 25.35% undervalued.
Today, property prices in Kaipara are overvalued 15.94%.
That suggests there is a selling opportunity in Kaipara.
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Kaipara suburb prices
I track the value of 9 suburbs in Kaipara. The most expensive suburb is Mangawhai, which has an average house value of $1,098,000. While the most affordable suburb is Ruawai, which has an average house value of $400,500.
I track the value of just 1 suburb in Kaipara. It's called Ruawai and you can see how the average property value is changing in the graph below.
I track the value of 9 suburbs in Kaipara. The most expensive suburb is Mangawhai, which has an average house value of $1,098,000. While the most affordable suburb is Ruawai, which has an average house value of $400,500.
Over the last 24 months of all Kaipara suburbs (June 2022 - June 2024, Baylys Beach had the slowest-falling house prices. They have gone down -2.02% over that period.
The suburb that fell the fastest over that period was Mangawhai. Property values in this suburb fell by 11.02% over those 2 years.
What is the Kaipara rental market like?
Here's how rents are changing in Kaipara. Over the last four years (April 2020 - April 2024) the median rent has gone up $215 a week. That's 13.03% a year (on average).
Over the last 12 months, rents have gone up. They are up 11.00% ($55 a week) year on year.
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Are properties selling above or below CV in Kaipara?
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 Northland.
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 Northland property market here.