Dunedin Property Market Update - August 2026

The Dunedin and Otago property markets have been a little quieter the past month, with open home attendance down significantly, however sales-wise the market continues to hold fairly steady. Here’s what you need to know about the Dunedin property market this month…

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House prices

The median house price in Dunedin City for July was $619,000. This was a slight increase of 1.1% from $612,000 in June and up 3.2% from $600,000 in July 2025. 

Across Otago, the median house price sat at $679,000. This is slightly down 3% from $700,000 in June and down 7% from $730,000 compared to this time last year. 

Again we see a market that, price-wise, is continuing to hold fairly steady as we move through winter - with just a slight increase in the Dunedin median house price year on year. 

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Market activity

First home buyers remain the most active buyer group in the city, and have been for quite some time now, likely due to the stable pricing, lower interest rates, and less competition for properties. 

Open homes and auction attendance has been fairly quiet the past month, mainly due to the weather and to limited properties on the market. However, those buyers who are attending the open homes are generally serious buyers who are ready to move on the right property. 

In Dunedin City there were 163 properties sold in July, which is slightly more than in June at 151 and fairly on par with this time last year where 170 were sold. 

In the wider Otago region, there were 315 sales. This is down slightly on the 348 sold in June and significantly down on the 402 sold in July last year. A big part of this makeup is lesser properties sold in the Queenstown & Central Otago Districts compared to July last year. 

Across the Otago district it is taking the average house 48 days to sell. This is 10 days faster than this time last year. 

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Market outlook

The local Dunedin market remains steady again this month, with both listing activity and pricing on par with previous months and year-on-year activity. It's likely in the next month or two, we will see the Spring surge, where more properties hit the market thanks to the warmer weather. It's also likely the upcoming election and overseas conflicts are playing a part right now in the quieter market too, especially for investors.

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Thinking about buying?

If you are thinking about buying a first home, upgrading your home, or buying an investment property, overall it is still a good time. There is less competition and pressure on buyers to make quick decisions and property prices and interest rates remain relatively low. 

Our mortgage advisers at Loan Market Dunedin will guide you through every step, from understanding your deposit and how much you can borrow, to helping you determine a realistic price range. Securing a pre-approval now can help put you in a stronger position when the right property comes along.

Get in touch with our Dunedin mortgage advisers today for an obligation-free chat and take the next step towards your property goals. 

Source: REINZ