200 ISSUES: TOP REGIONS REVEALED
New Zealand’s housing market has had an incredible run over the past 200 issues of
NZ Property Investor. Since it began in late 2003, property owners have enjoyed considerable gains in value across every region in the country. But not all areas have been equal. There have been some standout performers in both the North and South Islands – some surprising, some obvious.
THE TOP EARNERS
In general, the regions with the greatest dollar gains since 2003 were among the most expensive regions in 2003 – you had to pay more to buy in these areas, but the capital gains have repaid your investment.
QUEENSTOWN-LAKES
Queenstown-Lakes District took the top prize for dollar gains, with average house values rising by over $710,000 since the end of 2003. It was already the most expensive place to buy a house in 2003 and remained so in April 2020.
Its continued success has been driven by the massive tourism boom for the region and huge growth in employment – underpinned by Queenstown’s natural beauty and year-round activities. Houses have been severely unaffordable for locals and
