What's happening with Central Otago house prices?

Council area of Otago

Explore Central Otago's property market for the latest trends, house prices, market cycles, rental yields, and top investment suburbs

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.

Last Updated: 24 Mar 2025

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What's happening to Central Otago house prices?

The average price of a Central Otago property is $850,344 (CoreLogic, February 2025).

Quick Facts

The average price of a Central Otago property is $850,344 (CoreLogic, February 2025)
Over the last 3 months property prices in Central Otago have gone down 2.24%
Central Otago property prices increased 5.57% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
The average rent in Central Otago is $600 per week (Tenancy Services, November 2024)

How are Central Otago property prices changing?

Central Otago house prices soared after the Covid-19 pandemic began. House prices started out 26% below the eventual peak of the market.

Where is Central Otago in its property cycle?

At the absolute bottom of its property cycle, Central Otago was 26.63% undervalued.

Central Otago suburb prices

I track the value of 9 suburbs in Central Otago. The most expensive suburb is Mount Pisa, which has an average house value of $1,347,650. While the most affordable suburb is Ranfurly, which has an average house value of $432,050.

Over the last 24 months of all Central Otago suburbs (February 2023 - February 2025, Ranfurly had the fastest-growing house prices. They have gone up 8.01% over that period.

The suburb that grew the slowest over that period was Clyde. Property values in this suburb grew by 3.88% over those 2 years.

What is the Central Otago rental market like?

Here's how rents are changing in Central Otago. Over the last four years (November 2020 - November 2024) the median rent has gone up $155 a week. That's 7.76% a year (on average).

Are properties selling above or below CV in Central Otago?

One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (CV)?”

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 Otago property market here.