'People lined up ... it was mental': The small town where $700,000 buys any house you want
The town of Kawerau in New Zealand has become a hotspot for first-home buyers due to its exceptionally low property prices compared to the national average. Local real estate agents report that buyers are flocking to the area to secure affordable homes, often finding they can purchase significantly larger properties than they could in major cities like Auckland.
Why it matters
It highlights shifting migration patterns and housing affordability crises in New Zealand, where remote towns are becoming viable alternatives for young families.
Share twitter Share linkedin Share link The median house value in Kawerau is $420,000 - almost half the national median value of $804,000. Photo / Alick Saunders Photography - Kawerau has become New Zealand’s leading first-home buyer market, with buyers making 44% of purchases.
- Affordable homes and local jobs are attracting first-home buyers to the town.
- “If we were to buy this in Auckland. it’d be like a million dollars.”
First-time buyers feel like millionaires when they start house-hunting in Kawerau, agents have told OneRoof.
It’s because they can almost afford to buy any house they want, with prices starting at around $200,000.
Long favoured by retirees, the Bay of Plenty town has become a magnet for those getting started in the housing market.
Research by property insights firm Cotality has identified Kawerau as New Zealand’s first-home buyer capital.
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