18 August 2023

Median House Price:
Stats for July 2023, the median house price in Dunedin stands at $625,000. This marks an increase from the median price of $599,100 reported one year ago. The year-on-year growth in property values amounts to a robust 4.3%.

Number of Sales:
Over the past month, the Dunedin real estate market has seen a total of 117 property sales. This figure underscores the steady activity within the market, with a consistent stream of transactions taking place despite various economic impacts, such as interest rates and cost of living.

Median Days to Sell:
The median days to sell a property in Dunedin for July was 39 days. This statistic reflects the relatively brisk pace of the market, where well-priced and appealing properties are being snapped up by eager buyers within a reasonable timeframe.

Market Trends:
We have experienced some volatility over the past 6 months with a sub-$600,000 median house price trend. July has brought us back to $625,000, this growth being attributed to a combination of factors such as limited housing supply, increased demand from various buyers, and the overall desirability of Dunedin's lifestyle. Properties that are priced appropriately and well-maintained tend to attract attention and secure buyers quickly.

First Home Buyers:
The First Home Buyer Scheme with Kāinga Ora has been changed significantly, widening the availability to first home buying Kiwi's. Find out more information from Loan Market here.

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In summary, the Dunedin housing market has demonstrated growth, with the median house price reaching $625,000, representing a 4.3% increase compared to the previous year. The market is poised to maintain its momentum, with limited housing inventory and an increase in active buyers expected to support continued price appreciation.

View the full report from REINZ July data


Tom Leonard
Licenced under REAA 2008