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New Zealand's Invercargill Bucks National Housing Trend as Home Values Hit New Peak, Says QV

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Invercargill home values rose 3% in the April quarter and 9.5% annually to an average of NZ$548,747, making it the only main center to have fully regained the ground lost following the post-COVID market downturn, according to a Thursday report by property services provider Quotable Value (QV).

The report said national home values grew just 0.2% in the quarter and fell 0.2% annually, with larger cities such as Auckland down 22.1% and Wellington down 27.4% from their previous highs.

"Southland has a relatively strong real-economy employment base compared to many other parts of the country, particularly through the agricultural and industrial sectors," said Kylie Helman, QV lower South Island regional manager.

The wider Southland region also recorded a positive start to 2026, with the average home value increasing 2.5% to NZ$545,033 in the April quarter, QV added.

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