Property Market
5 min read
What's happening with Dunedin house prices?
Council area of Otago
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 Dunedin house prices?
The average price of a Dunedin property is $ (CoreLogic, February 2025).
Quick Facts
- The average price of a Dunedin property is $ (CoreLogic, February 2025)
- Over the last 3 months property prices in Dunedin have gone up 1.21%
- Dunedin property prices increased 5.01% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
- The average rent in Dunedin is $500 per week (Tenancy Services, November 2024)
How are Dunedin property prices changing?
Dunedin house prices soared after the Covid-19 pandemic began. House prices started out 23% below the eventual peak of the market.
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Where is Dunedin in its property cycle?
At the absolute bottom of its property cycle, Dunedin was 18.58% undervalued.
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Dunedin suburb prices
I track the value of 65 suburbs in Dunedin. The most expensive suburb is Maori Hill, which has an average house value of $1,019,450. While the most affordable suburb is South Dunedin, which has an average house value of $413,150.
Over the last 24 months of all Dunedin suburbs (February 2023 - February 2025, Shiel Hill had the fastest-growing house prices. They have gone up 6.56% over that period.
The suburb that fell the fastest over that period was Dunedin Central. Property values in this suburb fell by 2.67% over those 2 years.
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What is the Dunedin rental market like?
Here's how rents are changing in Dunedin. Over the last four years (November 2020 - November 2024) the median rent has gone up $105 a week. That's 6.07% a year (on average).
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Are properties selling above or below CV in Dunedin?
One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (CV)?”
Where do house prices grow the fastest in the Dunedin property market?
Where do house prices go up the fastest in Dunedin?
Which suburbs in the Dunedin property market have the highest yields?
Gross yields vary widely depending on which suburb you chose to investigate.
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.