Selwyn in Canterbury, Nelson-Tasman, and parts of Waikato have been recognised as emerging premium property hotspots, experiencing a rise in sales of properties priced over $2 million.
The rise is probably due to internal migration to these areas, with wealthy Kiwi buyers moving for lifestyle, more space, and high-quality new homes.
“Many buyers at the moment are less focused on the postcode and more interested in the features of a property,” New Zealand Sotheby’s International Realty managing director Mark Harris said.
“What you pay for a villa in Grey Lynn might buy you a lifestyle block with a swimming pool in Selwyn. With the digitisation of the workspace, lowering interest rates and better roads and transport – particularly in Canterbury and the Waikato in relation to city and airport accessibility – it’s never been easier for Kiwis to relocate.”
Between 2018 and 2024, Selwyn experienced an influx of 19,381 internal movers, which contributed to a 44% increase in median property prices to nearly $800,000, along with a notable rise in homes selling for over $2 million—a price level that was uncommon in the area until recently.
“The wider Canterbury region is seeing a resurgence in interest, and in Selwyn, people are excited about the prospects of the area, now that it has re-established after the earthquake,” Harris said.
“It has good schools, jobs, lifestyle and is good value in comparison with the more traditionally sought-after suburbs of Merivale and Fendalton.”
The Nelson-Tasman region, known for its lifestyle estates and coastal homes that are now fetching higher prices, has attracted 2,740 Kiwis relocating from other parts of New Zealand, consistently seeing steady year-on-year price growth of approximately 5.5%.
“These are not just statistical gains; they’re people making intentional moves, often mid-to-upper-income earners seeking quality of life,” Harris stated.
“Our Nelson office has had one of its best six months on record, with the volume of sales up and some significant prices being achieved in the area.”
Between 2018 and 2024, the Waikato region also saw an increase in domestic migration, with 10,475 people relocating there from within the country.
“Waikato is also seeing a good pickup in results after a tough few years.”
“Cambridge and Tamahere are where young families are establishing themselves on lifestyle blocks close to great schools, with enough room for pools, animals and orchards, yet still close to Auckland and the coastal beaches.”