What's happening with Clutha house prices?

Council area of Otago

Explore Clutha'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 Apr 2025

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What's happening to Clutha house prices?

The average price of a Clutha property is $412,042 (CoreLogic, February 2025).

Quick Facts

The average price of a Clutha property is $412,042 (CoreLogic, March 2025)
Over the last 3 months property prices in Clutha have gone down 0.34%
Clutha property prices increased 5.16% per year (on average) in the 20 years between March 2005 - March 2025 (REINZ)
The average rent in Clutha is $400 per week (Tenancy Services, February 2025)

How are Clutha property prices changing?

Clutha house prices soared after the Covid-19 pandemic began. House prices started out 41% below the eventual peak of the market.

Where is Clutha in its property cycle?

At the absolute bottom of its property cycle, Clutha was 28.17% undervalued.

Clutha suburb prices

I track the value of 8 suburbs in Clutha. The most expensive suburb is Balclutha, which has an average house value of $433,700. While the most affordable suburb is Tapanui, which has an average house value of $369,250.

Over the last 24 months of all Clutha suburbs (February 2023 - February 2025, Lawrence had the fastest-growing house prices. They have gone up 9.15% over that period.

The suburb that fell the fastest over that period was Tapanui. Property values in this suburb fell by 3.60% over those 2 years.

What is the Clutha rental market like?

Here's how rents are changing in Clutha. Over the last four years (February 2021 - February 2025) the median rent has gone up $90 a week. That's 6.58% a year (on average).

Are properties selling above or below CV in Clutha?

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.