Housing in Invercargill: an affordable city to live in
Published on 30 May 2022
3 minute read
As house prices around the country rose by a substantial amount, in some regions of New Zealand housing became an unaffordable luxury. Auckland and the Queenstown Lakes District both saw the average house price jump to over a million dollars at one point. Meanwhile, in Invercargill, house prices are less than half that, making Invercargill an affordable city to live in.
History of housing in Invercargill
Compared to the rest of New Zealand, housing in Invercargill has always been relatively affordable. In the 1990s, it was common to find quality housing at under $100k. This made homeownership a natural part of living in the city.
But as house prices grew nationwide, Invercargill was not immune. Prices reached their lowest around May 2000 at $51,000. In April 2012, that amount had increased to $195,000. And 10 years later, it more than doubled again to reach $455k. Pricing has stayed stable over the last several months but of course there’s no guarantee it will continue to do so. However, Invercargill continues to stay much more affordable than other regions for home buying.
How much is housing in Invercargill now?
Housing in Invercargill is still affordable compared to most regions of New Zealand. In the Southland region overall, the median house price was at $455k as of the REINZ April housing report. However, it’s important to note that the prices varying widely depending on the specific suburb.
The Rosedale suburb, for example, has the most expensive median house prices in Southland as of May 2022. The median price in Rosedale is around $675k. A house in Appleby, on the other hand, goes less than half at about $325k.
However, even housing in Southland’s more expensive suburb is substantially cheaper than some areas of the country. The median price of a home in Rosedale cost less than the cheapest standalone house in Auckland, meaning your money goes a lot further in Invercargill!
What kind of house can you get at the national median price?
In April 2022, the national median house price in New Zealand was $875,000. For housing in Invercargill, this will get you a large, expansive home or a large lifestyle block. A typical home in this range will have multiple bathrooms and 4 or 5 bedrooms with modern appliances. They will typically be newer builds or newly renovated. Invercargill is an excellent place if you want to have a nice house in a safe community.
Interested in moving to Invercargill?
If you’re wondering if Invercargill is a good place to live with housing more affordable than other regions, it might be worth a visit. There are plenty of things to do in Invercargill including nature walks, restaurants, activities, and events. Come stay with us as you explore the town and see if Invercargill is right for you!