South Island
REINZ Average House Prices For Selected Towns
| Location |
Average House Price
July 2006 |
| Nelson |
$300,000 - $320,000 |
| Timaru |
$190,000 - $220,000 |
| Queenstown |
$510,000 - $530,000 |
| Dunedin |
$240,000 - $250,000 |
| Invercargill |
$140,000 - $150,000 |
House Prices
The house bands quoted above are based on median prices.
This means that approximately half of the houses on the market will sell for more than the quoted band and half for less.
For example, in the case of Dunedin, roughly half of the properties on the market in Dunedin will sell for more than $250,000 and roughly half will sell for less than $240,000.
The median is the standard method of measuring average house prices in New Zealand.
Queenstown, an alpine resort on the South Island, where a number of high profile movie stars have bought property, has the highest house prices in the South Island.
Nelson, which vies with Blenheim for the sunniest town in New Zealand, receives around 2,400 hours of sunshine annually.
It is a very popular choice with migrants moving to New Zealand for lifestyle reasons. It has the second highest property prices on the South Island.
Invercargill, on the southern tip of the South Island, enjoys the lowest property prices of any of New Zealand's major towns.
Dunedin is home of Otago University and has a big market for student lets.
