What's happening with Waipa house prices?

Council area of Waikato

Explore Waipa'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 Waipa house prices?

The average price of a Waipa property is $878,384 (CoreLogic, June 2024).

Waipa house prices are up 4.95% over the last three months (REINZ). And they are 5.09% up over the last 12 months.

Quick Facts

The average price of a Waipa property is $878,384 (CoreLogic, September 2024)
Over the last 3 months property prices in Waipa have gone up 4.95%
Waipa property prices increased 7.01% per year (on average) in the 20 years between September 2004 - September 2024 (REINZ)
The average rent in Waipa is $630 per week (Tenancy Services, April 2024)

How are Waipa property prices changing?

Waipa house prices soared after the Covid-19 pandemic began. House prices started out 30% below the eventual peak of the market.

However, after that peak in November 2021, house prices fell 17.30% before bottoming out in June 2023.

Today, Waipa house prices are down 13.02% compared to their peak. That means prices have risen 5.18% since the bottom of the market.

Where is Waipa in its property cycle?

At the absolute bottom of its property cycle, Waipa was 17.18% undervalued.

Today, property prices in Waipa are overvalued 7.73%.

That suggests there is a selling opportunity in Waipa.

Waipa suburb prices

I track the value of 6 suburbs in Waipa. The most expensive suburb is Cambridge, which has an average house value of $1,072,400. While the most affordable suburb is Kihikihi, which has an average house value of $684,100.

I track the value of just 1 suburb in Waipa. It's called Kihikihi and you can see how the average property value is changing in the graph below.

Over the last 24 months of all Waipa suburbs (June 2022 - June 2024, Ohaupo had the slowest-falling house prices. They have gone down -5.61% over that period.

The suburb that fell the fastest over that period was Te Awamutu. Property values in this suburb fell by 8.03% over those 2 years.

What is the Waipa rental market like?

Here's how rents are changing in Waipa. Over the last four years (April 2020 - April 2024) the median rent has gone up $165 a week. That's 7.89% a year (on average).

Over the last 12 months, rents have gone up. They are up 10.53% ($60 a week) year on year.

Are properties selling above or below CV in Waipa?

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.