Dunedin in Demand
Heritage, wildlife, spectacular scenery and impressive growth: no wonder Dunedin considers itself one of the world’s best small cities. Its diverse economy spans education, manufacturing, healthcare, technology, tourism and agriculture – and its population has been increasing rapidly.
“We have all the things you need for a city: a university, a hospital, an airport, and the best stadium in New Zealand,” says Miles Rapley of Bayleys Dunedin. “There are lovely destination places, beautiful beaches, good coffee and you’re close to skiing and the lakes. There are seals, penguins and albatross. We’re the driest major city in New Zealand. It takes 10 minutes to go anywhere and it’s easy to make friends – Dunedin has a lot of good things going for it.”
For property investors, Dunedin has traditionally been a place where houses were affordable and yields were high. That equation has been tipped on its head over the past five years as house prices have surged dramatically – Dunedin’s average house value is higher than Christchurch’s for the first time since records began in 1990.