Housing affordability

House prices prove major drawcard

The Timaru residential market offers a variety of properties for all tastes and budgets.

The average house value for Timaru District in year to December 2021 is $494,757 (Source:  Infometrics Quarterly Economic Report). Prices for premium top end properties in prime locations begin at about $650,000 and go up to $1 million or more. Rural lifestyle properties on the outskirts of town are sought after and can range from $600,000 up to well over $1 million depending on location and land size. Entry level housing for a basic ownership unit begins at about $280,000, while most real estate market activity is in the price range between $350,000 and $550,000.

Many new residents choose to rent a home on first arriving in the region, with the average rental for a family home in a good area of around $350 - $450 per week. Many local real estate agents also manage rental portfolios.

Timaru District offers:

  • Affordable lifestyle - housing, amenities, services, schooling and more
  • Easier to achieve work/life balance
  • Central location with easy driving access to major cities and daily flights to Wellington, New Zealand's capital city
  • Leading pre-school, primary and secondary schools and tertiary education
  • Excellent primary and secondary healthcare with public and private hospitals
  • Thriving retail sector offering both national chain stores and local boutiques
  • Temperate climate and beautiful natural environment
  • Active arts, drama, music and cultural scene
  • World-class sporting and recreational facilities, including rugby, cricket, athletics, tennis, in-line skating, swimming, climbing, motor sports and cycling
  • Low crime rate
  • Low unemployment rate
  • Newcomers welcomed to the district and supported.