Source: REINZ, Ray White Economics
SOUTH ISLAND STEPS FORWARD
Zooming out, the South Island is stealing the spotlight. Four of the top five regional performers over the past year are located south of the Cook Strait, with affordability emerging as a key theme.
• West Coast leads the nation with 35.50 per cent annual growth and 42.10 per cent gains over three years, all from a base price of just $ 420,000 – still the most affordable region in the country.
• Marlborough shows 21 per cent annual growth, though its longer-term performance is more muted at 4.10 per cent over three years.
• Otago is up 15 per cent year on year but remains slightly down(-4 per cent) across three years.
• Southland has gained 14.50 per cent in the past year and 12.50 per cent over three years.
By contrast, many North Island regions are treading water or slipping backwards, dragged down by higher prices and stretched affordability. In general, markets below the $ 650,000 price threshold are showing the strongest momentum, while those above $ 800,000 are struggling to regain traction.
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