Property Market
5 min read
What's happening with Waitaki 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 Waitaki house prices?
The average price of a Waitaki property is $ (CoreLogic, February 2025).
Quick Facts
- The average price of a Waitaki property is $ (CoreLogic, February 2025)
- Over the last 3 months property prices in Waitaki have gone up 2.98%
- Waitaki property prices increased 5.71% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
- The average rent in Waitaki is $450 per week (Tenancy Services, November 2024)
How are Waitaki property prices changing?
Waitaki house prices soared after the Covid-19 pandemic began. House prices started out 32% below the eventual peak of the market.
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Where is Waitaki in its property cycle?
At the absolute bottom of its property cycle, Waitaki was 25.05% undervalued.
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Waitaki suburb prices
I track the value of 11 suburbs in Waitaki. The most expensive suburb is Omarama, which has an average house value of $618,050. While the most affordable suburb is Palmerston, which has an average house value of $408,950.
Over the last 24 months of all Waitaki suburbs (February 2023 - February 2025, Oamaru had the fastest-growing house prices. They have gone up 1.37% over that period.
The suburb that fell the fastest over that period was Kurow. Property values in this suburb fell by 6.13% over those 2 years.
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What is the Waitaki rental market like?
Here's how rents are changing in Waitaki. Over the last four years (November 2020 - November 2024) the median rent has gone up $115 a week. That's 7.66% a year (on average).
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Are properties selling above or below CV in Waitaki?
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.