Marlborough regional property market insights

According to our most recent Trade Me Property data, the average cost of buying a home in Marlborough in December 2024 was $787,350. This figure was up both month-on-month (1.6%) and year-on-year (2.5%).

The number of Marlborough homes for sale on Trade Me Property was down slightly in December 2024 (541) compared to November (555). However, December's listing volumes were still considerably greater than the year before, when 427 properties were available for sale.

According to our data, in December 2024, the average Marlborough home rental price was $550, this price was static month-on-month but up 3.8% year-on-year.

There were nearly double the number of properties for rent in Marlborough in December 2024 (87) compared to December 2023 (45), giving renters plenty of choice. The last few years have seen a repeated pattern of peaks and troughs in the number of rentals available, with spring and summer proving to be popular periods for these properties to be snapped up, and autumn and winter seeing reduced demand. The good news for renters is that, despite this variability, the overall stock available is gradually increasing, even in the periods of high demand.

To get a closer look at what has been happening on the ground in Marlborough's real estate market, we spoke to Will Porter of Bayleys Marlborough. We asked him about the trends he's seen in the last months of 2024, and so far in 2025, as well as what he predicts for the rest of the year. Here's what Will told us:

“Vendors are currently enjoying hearing positive local stories such as spirited bidding in the auction room, and lots of interest from Tauranga and Auckland buyers who want more bang for their buck. This means we’re seeing plenty of people finally commit to listing. What’s more, vendors who meet the market and make the most of their initial first wave of interest get to enjoy the ability to move on and make the most of the buying opportunities that abound.”

As for the rest of 2025: “With plenty of options out there, we anticipate even more out of town enquiry as national buyers switch on to the opportunities and lifestyle our region has to offer. Vendors who are more receptive to their agents’ advice on upping their marketing spends in order to stand out from rest are enjoying busier campaigns with a wider array of buyers.”

Among people surveyed in our 2024 Property Pulse survey* who were seeking to buy a home in the Marlborough region:

• 1.3% were currently in the process of buying a home.
• 1.7% were just thinking about buying a property.
• 1.9% were looking to buy a property in the next year.
• 0.9% were looking to buy a property in the next 1-2 years.

Of the respondents who’d ideally buy a property in the Marlborough region, 55% agree that now is a good time to buy a home in the Marlborough region. Would-be buyers in the Marlborough region say they would be most willing to compromise on either the size or the condition of the property in order to stay within their buying budget, compared to a range of five other options including property type, location and garden size.

Above all, the Marlborough/Te Tauihu-o-te-waka region is synonymous with wine. Marlborough wines can be found on supermarket shelves around the world, and the vineyards are an important source of employment in the area. 

Manufacturing was the greatest industry sector by GDP in Marlborough in 2023, according to Infometrics, followed by agriculture, forestry and fishing, and then rental, hiring and real estate services. There is also a thriving tourism industry in this region, with locations such as the Marlborough Sounds attracting visitors from all over the globe to enjoy the extraordinary outdoor experiences. The ferry port in Picton also means that this part of Te Waipounamu/South Island is easily accessible to Te Ika-a-Māui/North Island, and an important hub for goods transport. This means the temporary population of these locations can swell seasonally, particularly during the summer months.

As of June 2023, the permanent population of the Marlborough region was 52,200, with the major districts being:

• Blenheim

• Kaikōura

• Marlborough

The largest town in the region is Blenheim, which is home to around 30,500 people. The Marlborough region’s population density is one of the lowest in the country, with roughly five people per square kilometre. 

*Data from Trade Me Property Pulse Survey 2024. 1,572 total responses, 20 responses from the Marlborough Region.