Trade Me Property Data Shows Impact Of New Census Figures As More Kiwi Head South

New data from Trade Me Property shows a notable shift in New Zealand's property market landscape, with a growing number of Kiwi moving South.

Census data released this week showed a significant internal migration trend, with approximately 86,000 people moving from the North Island to the South Island between 2018 and 2023. That was about 30,000 more people than went in the opposite direction.

Trade Me Property Customer Director Gavin Lloyd says it's fascinating to see how the shifts outlined in the Census are playing out across Aotearoa’s property market.

"For years, the North Island, particularly Auckland, has been the powerhouse of the property market. However, with more Kiwi seeking lifestyle changes and potentially more affordable options, the South Island is certainly gaining ground."

While the North Island continues to hold a higher average asking price, Trade Me Property figures show the gap has narrowed between the two islands.

“In December 2021 there was an average asking price difference of more than $350,000 between the North and South islands, but from late 2021 we saw that gap start to close.

“Last month the average North Island asking price was just over $182,000 higher than the South Island - a significant bridge of the divide we saw in late 2021.

"This migration trend could well be a response to the cost of living and housing affordability challenges faced in the North Island," Mr Lloyd adds.

“We’re also hearing from a lot of agents in the South Island that they’re seeing an increasing number of enquiries from Kiwi in the North looking to relocate. Our data is backing this up, with listing views on properties in Canterbury in May up 7 per cent year-on-year.

"The South Island has plenty to offer Kiwi with vibrant urban centres like Christchurch to the stunning natural landscapes of Otago and Southland, often at a more accessible price point."

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