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.

New Zealand property is famously expensive. In 2024, Auckland even held the dubious honour of being the twelfth least affordable housing market in the world.

But if you look a little closer at our country’s many smaller, more remote regions, there are still bargain properties to be found at way under the country’s average asking price of $842,900 (January 2025).

These are the cheapest places to buy a house in NZ

The three cheapest regions to buy a house in Aotearoa New Zealand all had average asking prices below $600,000 as of January 2025:

There aren’t any regions in Aotearoa New Zealand with average asking prices under $500,000 – however, there are towns and suburbs within each region hiding properties for as little as $300,000.

Where are the cheapest houses in the cheapest regions?

Runanga, a small town on the West Coast, is home to some of the cheapest houses in Aotearoa New Zealand. The average house price there is just $235,000 as of March 2025.

Down south, Mataura is almost as cheap. This tiny town south of Gore sits astride the banks of a river and has a super low median house price of just $260,000. Other cheap regions include:

Looking at median price is just one way to find cheap houses. Opes Partners recently came up with another – the percentage of houses selling for less than $500,000 by region. Here are the top five regions in their analysis as of September 2024:

Kawerau District - 91%
Ruapehu District - 88%
Buller District - 81%
Gore District - 78%
Clutha District - 77%

If you’re looking for a cheap property any of the areas listed above would be a great place to start.

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. To find some bargains for yourself:

Jump onto Trade Me Property’s residential search page.
Leave the location as ‘All New Zealand’.
Hit search.
Once the results have loaded, sort by ‘lowest price’ and start browsing.

You’ll have to scroll through several houses for relocation and leasehold properties but around page ten you should start coming across sections for under $100,000. In March 2025, there was a half acre in Tararua asking just $85,000.

Keep searching and eventually you’ll start finding ultra-cheap houses. Again, in March 2025 there was a bedroom unit for sale in Kawerau asking just $75,000 and a two bedroom cottage in Ooamaru for just $200,000.

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 and land can be found for as little as $300,000, and. 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.

Author

Ben Tutty

Ben Tutty is a regular contributor for Trade Me and he's also contributed to Stuff and the Informed Investor. He's got 10+ years experience as both a journalist and website copywriter, specialising in real estate, finance and tourism. Ben lives in Wānaka with his partner and his best mate (Finnegan the whippet).