For years, New Zealanders have been drawn to the hustle and bustle of Auckland, Wellington, and Christchurch. However, recent property data tells a different story: the actual value, both in lifestyle and investment, is in the provinces. With property prices soaring outside the major centres, more Kiwis are seeing the appeal of regional living - offering both affordability and a higher quality of life and promising long-term gains.
Over the past decade, property values in New Zealand's regional areas have skyrocketed. While the national average asking price rose by 60.3%, from $556,931 in early 2015 to $892,579 by the end of 2024, Auckland lagged behind with a modest 29.5% increase. Meanwhile, some regions have seen prices more than double:
- Gisborne: Up 138.5% from $308,143 to $677,570
- Manawatu-Whanganui: Up 128.6% from $270,262 to $626,491
- Central North Island: Up 126.6% from $352,917 to $791,100
- Southland: Up 112.2% from $249,822 to $546,216
- Coromandel: Up 111.4% from $505,799 to $1,121,889
- Wairarapa: Up 110.1% from $325,460 to $744,363
- Hawke's Bay: Up 106.9% from $375,151 to $776,527
- Central Otago Lakes District: Up 106.6% from $709,919 to $1,566,623
- Waikato: Up 102.9% from $386,256 to $823,352
Other regions, including Otago, Taranaki, and Marlborough, came close to doubling in value as well. These numbers paint a clear picture: regional New Zealand is thriving, offering excellent opportunities for both homebuyers and investors.
1. Lifestyle and Liveability
The fast-paced lifestyle of the big cities isn't for everyone. Many Kiwis are opting for the quieter, more relaxed environment of regional towns, where there's a strong sense of community, less congestion, and easy access to nature. Whether it's the stunning beaches of Gisborne, the rolling vineyards of Hawke's Bay, or the adventure playground of Central Otago, the regions offer a lifestyle that's hard to beat.
2. Affordability and Value for Money
Housing in Auckland, Wellington, and Christchurch has long been unaffordable for many. The regions, however, provide much better value—larger properties, lower costs, and often a higher standard of living. Even with strong price growth, many of these areas remain more affordable than their big-city counterparts.
3. Investment Potential
The data shows that property in the provinces has seen some of the strongest growth in the country. While Auckland's market has slowed, regional areas continue to appreciate in value. As more people look for alternatives to expensive city living, demand in the provinces is only expected to rise, making it a smart investment choice.
4. Work and Connectivity
The shift to remote and hybrid work has made regional living more attractive. People no longer need to be in major centres for work, and improvements in infrastructure and connectivity mean they can enjoy the best of both worlds—affordable housing and a great lifestyle without sacrificing career opportunities.
The Future of Regional New Zealand
Vanessa Williams, spokesperson for realestate.co.nz, highlights that the remarkable growth in the provinces is no accident. "Kiwis recognise the lifestyle and investment opportunities beyond our main centres. Each region has its own unique market dynamics and opportunities - and we're seeing strong long-term growth even in areas that may have been overlooked."
Even with recent market corrections, regional property prices remain significantly higher than a decade ago. The long-term outlook remains strong, making now an ideal time for those considering a move or investment outside the main centres.
The message is clear: New Zealand's regions are the place to be. Whether you're looking for a better lifestyle, more affordable housing, or a smart investment, the provinces offer opportunities that the big cities simply can't match. With property values continuing to rise and regional areas thriving, there's never been a better time to make the move.
If you're looking to escape the rat race and secure your future in one of New Zealand's booming regional areas, now's the time to act.
