Premium home sales soar as lifestyle relocations rise
Affluent Kiwis are increasingly relocating to regions such as Selwyn in Canterbury, Nelson-Tasman, and parts of the Waikato, driving a sharp rise in sales of homes over $2 million, according to New Zealand Sotheby’s International Realty (NZSIR).
Managing director Mark Harris (pictured) said the shift is being driven by lifestyle appeal, value for money, and improved connectivity.
“Many buyers at the moment are less focused on the postcode and more interested in the features of a property,” 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.”
Selwyn’s $2m market booms
Selwyn’s population grew by 19,381 internal relocators between 2018 and 2024, pushing median property prices up 44% to nearly $800,000. The high-end market has surged – from just seven homes selling for over $2 million in 2018 to 44 such sales in 2024, an increase of more than 500%.
“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.”
Nelson-Tasman lures lifestyle buyers
In Nelson-Tasman, lifestyle estates and coastal properties are fetching record prices, fuelled by 2,740 Kiwis moving to the region from elsewhere in NZ between 2018 and 2024. Prices have risen around 5.5% annually, and $2 million-plus sales have nearly tripled since 2018.
“These are not just statistical gains, they're people making intentional moves, often mid-to-upper income earners seeking quality of life,” Harris said. “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.”
Waikato’s lifestyle appeal
The Waikato has seen 10,475 internal relocators over the past six years. While the $2 million-plus market peaked in 2021 before correcting, sales remain well above pre-COVID levels. The median sales price continues to climb by more than 5% a year on average.
“The Waikato is also seeing a good pick up in results after a tough few years,” Harris said. “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.”
Mortgage adviser takeaway
For mortgage advisers, these regional high-end trends could mean more lending opportunities in the $2 million-plus segment, particularly for relocators with strong equity positions seeking lifestyle upgrades.
The continued growth in premium property sales outside traditional city hotspots highlights shifting buyer priorities and the need for tailored finance solutions in these evolving markets.
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