What's happening with Matamata-Piako house prices?

Council area of Waikato

Explore Matamata-Piako'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: 27 Oct 2024

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What's happening to Matamata-Piako house prices?

The average price of a Matamata-Piako property is $695,373 (CoreLogic, June 2024).

Matamata-Piako house prices are up 8.24% over the last three months (REINZ). And they are 7.22% up over the last 12 months.

Quick Facts

The average price of a Matamata-Piako property is $695,373 (CoreLogic, September 2024)
Over the last 3 months property prices in Matamata-Piako have gone up 8.24%
Matamata-Piako property prices increased 7.22% per year (on average) in the 20 years between September 2004 - September 2024 (REINZ)
The average rent in Matamata-Piako is $550 per week (Tenancy Services, April 2024)

How are Matamata-Piako property prices changing?

Matamata-Piako house prices soared after the Covid-19 pandemic began. House prices started out 35% below the eventual peak of the market.

However, after that peak in March 2022, house prices fell 15.63% before bottoming out in January 2023.

Today, Matamata-Piako house prices are down 6.58% compared to their peak. That means prices have risen 10.73% since the bottom of the market.

Where is Matamata-Piako in its property cycle?

At the absolute bottom of its property cycle, Matamata-Piako was 20.09% undervalued.

Today, property prices in Matamata-Piako are overvalued 8.35%.

That suggests there is a selling opportunity in Matamata-Piako.

Matamata-Piako suburb prices

I track the value of 3 suburbs in Matamata-Piako. The most expensive suburb is Morrinsville, which has an average house value of $727,400. While the most affordable suburb is Te Aroha, which has an average house value of $631,100.

I track the value of just 1 suburb in Matamata-Piako. It's called Te Aroha and you can see how the average property value is changing in the graph below.

Over the last 24 months of all Matamata-Piako suburbs (June 2022 - June 2024, Morrinsville had the slowest-falling house prices. They have gone down -6.10% over that period.

The suburb that fell the fastest over that period was Matamata. Property values in this suburb fell by 8.71% over those 2 years.

What is the Matamata-Piako rental market like?

Here's how rents are changing in Matamata-Piako. Over the last four years (April 2020 - April 2024) the median rent has gone up $130 a week. That's 6.97% a year (on average).

Over the last 12 months, rents have gone up. They are up 10.00% ($50 a week) year on year.

Are properties selling above or below CV in Matamata-Piako?

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 Waikato.

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 Waikato property market here.