Southland regional property market insights

The average cost of buying a house in Southland increased by 0.9% to $518,950, between October and November 2024, according to our most recent Trade Me Property data. This was also an increase of 1.4% year-on-year.

The number of properties for sale in Southland in November in 2024 was also slightly up when compared with the month before, with 702 (November) compared to 675 (October).

November’s Trade Me Property data shows a substantial year-on-year increase in the average cost of renting a home in Southland, up 11.6%. However this was static month-on-month. All of this means that the current average price of renting a home in Southland is $480, according to our data.

The silver lining for renters in Southland, despite the increasing costs, is that there are more options available to choose between when compared to last year. The number of properties available for rent on Trade Me Property in the Southland region in November 2024 was 272, compared to 227 in November 2023. This was also an increase on the month before, when 257 homes were available for rent.

Among people surveyed in our September 2024 Property Pulse survey* who were seeking to buy a home in the Southland region:

3.4% were currently in the process of buying a home.

2.3% were just thinking about buying a property.

1.9% were looking to buy a property in the next year.

4.4% were looking to buy a property in the next 1-2 years.

Of the respondents looking to sell a home in the Southland region:

3.3% had owned their current home for more than five years.

1.3% had owned their current home for 3-5 years.

1.4% had owned their current home for 1-2 years.

5.9% had lived in their current home for fewer than 6 months.

Interested in how quickly properties in Southland change hands? Of respondents looking to sell a home in the Southland region:

• 2.8% were currently in the process of selling a property.
• 3.7% were just thinking about selling a property.
• 1.4% were looking to sell a property in the next year.
• 3.1% were looking to sell a property in the next 1-2 years.

Southland is known for its rugged beauty and contains some of our most famous tourist hotspots, including Milford Sound. It’s a favoured spot for trampers, thanks to the presence of Fiordland National Park, as well as being renowned for its produce, in particular, the famous Bluff oysters.

Aotearoa’s southernmost region was home to 103,900 at the time of the last national census, making it the second-most sparsely populated region of the motu. Around half of the region’s population live in Invercargill City, while Gore is the next largest urban centre. Other larger towns include Mataura, Bluff, Winton, Riverton and Te Anau.

There are four main districts within the Southland region, which are:

• Catlins 

• Gore

• Invercargill

• Southland

According to data from the Ministry of Business, Innovation and Employment (MBIE), the dairy cattle farming industry is Southland’s largest regional employer, followed by meat and meat product manufacturing and then sheep, beef cattle and grain farming.

*Data from Trade Me Property Pulse Survey 2024. 1,572 total responses, 55 responses from Southland.