What's happening with South Wairarapa house prices?

Council area of Wellington

Explore South Wairarapa'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 Mar 2025

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What's happening to South Wairarapa house prices?

The average price of a South Wairarapa property is $756,229 (CoreLogic, February 2025).

Quick Facts

The average price of a South Wairarapa property is $756,229 (CoreLogic, February 2025)
Over the last 3 months property prices in South Wairarapa have gone down 2.26%
South Wairarapa property prices increased 6.73% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
The average rent in South Wairarapa is $550 per week (Tenancy Services, November 2024)

How are South Wairarapa property prices changing?

South Wairarapa house prices soared after the Covid-19 pandemic began. House prices started out 43% below the eventual peak of the market.

Where is South Wairarapa in its property cycle?

At the absolute bottom of its property cycle, South Wairarapa was 37.84% undervalued.

South Wairarapa suburb prices

I track the value of 4 suburbs in South Wairarapa. The most expensive suburb is Greytown, which has an average house value of $892,750. While the most affordable suburb is Featherston, which has an average house value of $536,900.

Over the last 24 months of all South Wairarapa suburbs (February 2023 - February 2025, Greytown had the slowest-falling house prices. They have gone down -8.84% over that period.

The suburb that fell the fastest over that period was Featherston. Property values in this suburb fell by 13.79% over those 2 years.

What is the South Wairarapa rental market like?

Here's how rents are changing in South Wairarapa. Over the last four years (November 2020 - November 2024) the median rent has gone up $70 a week. That's 3.46% a year (on average).

Are properties selling above or below CV in South Wairarapa?

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 Wellington property market here.