Buying guide
Where are the cheapest houses in NZ?
Looking for a cheap house? We’ve scoured the country to find the cheapest place to buy a house in Aotearoa New Zealand.
Last updated: 4 November 2024
It’s no secret that New Zealand property prices can be pretty steep. Auckland even claimed the dubious honour of ranking 12th in the world for least affordable housing in 2024, just behind Toronto. Ouch. But here’s the silver lining: New Zealand's average asking price in August 2024 dropped to $818,250, the lowest since April 2021. And if interest rates continue to fall, this could be the perfect time to buy.
Ready to explore New Zealand’s most affordable spots? Let's get started.
The 5 cheapest places to buy a house in New Zealand
Throughout 2024, five regions in New Zealand have consistently offered some of the best house prices, with three staying under $600,000 on average. Check out these stunning, budget-friendly spots:
Top 3 cheapest regions (Under $600,000)
- West Coast: Average asking price – $451,000
- Southland: Average asking price – $497,400
- Manawatū / Whanganui: Average asking price – $566,850
If you’re looking for even more budget-friendly options, West Coast and Southland are the only regions where the average asking price remains under $500,000. Whats more, if you dig deeper into their local suburbs, you can find even better deals.
Other affordable regions (Close to $600,000)
- Gisborne: Average asking price – $623,350
- Taranaki: Average asking price – $645,800
While you're looking through listings in these areas, it's helpful to know what your budget will be — just in case you find a winner. Check our guide to home loans here.
Top 5 spots with the most affordable median house prices
CoreLogic's latest data highlights the five spots with New Zealand’s lowest median house prices. Unlike the cheapest areas, median prices show where most homes are priced around the middle — making these places affordable but with a mix of options.
Here are the top five most affordable areas right now:
- Kawerau District – $278,000
View properties in Kawerau.
- Ruapehu District – $347,000
Browse Ruapehu homes.
- Buller District – $360,000
Explore Buller listings.
- Waimate District – $375,000
Discover Waimate properties.
- Grey District – $390,000
Check out Grey District homes.
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There are still cheap properties in NZ if you know where to look.
Want to find some crazy cheap houses for yourself?
At any given time, Trade Me Property is home to a few surprisingly cheap NZ houses, many of which are in the regions listed above. To find some bargains for yourself:
- Jump onto Trade Me Property’s residential search page.
- Leave the location as ‘All New Zealand’.
- Hit search.
- Sort by ‘lowest price’ and start browsing.
You’ll have to scroll through several pages to get through all the relocation and leasehold properties. Around page five to seven you should start coming across sections for under $100,000. In November 2024, there was an apartment for sale in on Queens Wharf, in central Auckland for only $69,000 (CV $520,000) — apparently the owner wants out!
Keep searching and eventually you’ll start finding ultra-cheap houses.
Where are the cheapest houses in Auckland?
The cheapest houses in Auckland can be found in Auckland Central, Grafton, Manukau and Clendon Park.
The average price of homes in central Auckland and Grafton are so low because the vast majority of homes in these areas are apartments. Manukau and Clendon Park, on the other hand, are a mix of apartments and houses.
At the time of writing, freehold apartments can be found for as little as $300,000, and land as cheaply as $320,000. The cheapest standalone houses in Auckland are a little more expensive, usually starting at $450,000+.
FAQs — buying an affordable house in NZ
1. What should I look for in NZ’s cheapest regions?
Beyond price, think about job opportunities, commute options, and the area’s overall vibe. In places like Buller and Waimate, you might get more house for your money, but check out what’s nearby and how it suits your lifestyle.
2. What are the extra costs when buying a home?
On top of the purchase price, budget for local rates, home insurance, and any maintenance. Some cheaper properties may need a bit of work, so it’s smart to plan ahead. For more information, read about the eight hidden costs of buying a home.
3. Is a fixer-upper a good idea in cheaper areas?
A fixer-upper in a place like Kawerau or Grey District could be a fantastic way to build equity, but make sure you have a clear budget for repairs. Some properties are affordable because they need TLC, so factor that in. See our guide on renovating to sell.
4. What’s the difference between ‘cheapest’ and ‘median’ prices?
The “median price” shows the middle range in the market, so it includes various property types. On the other hand, the “cheapest” regions offer homes at the lowest prices available in NZ right now, giving you a solid idea of budget-friendly areas.
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