Southland Property Prices More Than Double In Ten Years
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- Southland's average asking price rose by 112.2% in the past decade, reaching $546,216.
- The growth outpaced Auckland, which saw a 29.5% increase in the same period.
- Regional appeal, economic stability, and affordability continue to drive Southland’s market growth.
Southland has emerged as one of New Zealand’s top-performing property markets, with new data from realestate.co.nz revealing that average asking prices have more than doubled in the past decade. Figures show a 112.2% increase, rising from $249,822 in 2014 to $546,216 in 2024.
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This significant growth places Southland among the country’s leading regions for property price increases, surpassing Auckland, which recorded a 29.5% rise over the same period.
Challenging The Property Price Myth
The report also questions the belief that property prices double every ten years. While Southland and some other regions have followed this pattern, the national average increase was 60.3%, climbing from $504,388 to $892,579.
Vanessa Williams, spokesperson for realestate.co.nz, says the data reinforces the long-term upward trend in property values.
"While the data doesn't completely confirm the 'prices double every decade' belief, it does show that property values have grown strongly over time. How much they've grown depends on where you are and what part of the property cycle we are in."
Southland’s Growing Appeal
The rise in Southland’s property prices highlights the increasing appeal of regional areas, as buyers and investors seek affordability and lifestyle benefits beyond major cities.
"These figures show the growing appeal of regional New Zealand. Over the past decade, regions like Gisborne, Coromandel, and the Central North Island have seen remarkable growth as Kiwis recognise the lifestyle and investment opportunities beyond our main centres."
Southland’s economic stability has played a key role in this growth, particularly with the long-term future of the Tiwai Aluminium Smelter now secured. Additionally, Southland remains an attractive option for buyers priced out of larger centres.
Market Trends Over The Past Decade
Over the past ten years, the property market has gone through three key phases:
- 2014–2019: Steady price increases across most regions.
- 2020–2021: A sharp price surge during the COVID-19 pandemic, driven by high demand, low interest rates, and limited travel.
- 2022–2024: A market correction and stabilisation following the 2021 peak.
Williams points out that despite market fluctuations, long-term property ownership has remained beneficial.
"Even with recent price drops, houses are worth much more than they were a decade ago. Like any investment, property is a long game. Those who have the luxury of staying in the market are most likely to reap the gains."
What’s Next For Southland?
As the property market stabilises, future growth will depend on economic conditions, interest rates, and buyer preferences. Williams notes that affordability, sustainability, and lifestyle are becoming key considerations for buyers.
"We're seeing a real change in what matters to buyers. They're thinking more about sustainability, lifestyle, and what they can afford. These factors will shape how our property market develops over the next decade."
With strong regional investment, a stable economy, and an attractive lifestyle, Southland is expected to remain a key player in New Zealand’s real estate market.
