12 MONTH RENTAL TREND (MBIE APR23)
DAYS TO SELL (REINZ MAY23)
12 MONTH RENTAL TREND (TRADEME FEB 23)
MEDIAN PRICE (REINZ MAY23)
Palmerston North is a key University city, noted for its agricultural faculty, in a rich farming district. To the west, Whanganui lies at the mouth of the Whanganui river.
Located in the lower North Island, the region is named after its two main rivers. The Whanganui to the north and west is the country’s longest navigable river. The Manawatu in the south east creates a large fertile plain and runs through the largest city, Palmerston North (population 80,000). Palmerston North is about seven hour’s drive from Auckland and two hours from Wellington.
Population: 259,600 (Stats NZ)
Forecast Population 2033: 271,800 (Stats NZ)
Median Price: $ 528,000
12 Month Pricing Trend: -12.4% (REINZ May23)
12 Month Rent Trend: +$30 p/w (MBIE Apr23)
Palmerston North is widely known as a ‘student city’ and around 40% of its population either work at or attend the university and other educational institutions. The mix of farming industries nearby has made the city a particularly valuable hub for agriculturally-based education which in turn supports a significant number of science and research facilities in the region.
Palmerston North is also close to the National Air Force base at Ohakea and to Linton Army Camp.
Whanganui city (population 39,000) functions mainly as a service centre for its surrounding farming district.
The region’s landscape spans mountain ranges, the spectacular Manawatu Gorge, picturesque farmland, coastal plains and beaches.
With its many students and defence personnel, Whanganui-Manawatu is a relatively young and vibrant region. Housing is relatively affordable and lifestyle living has become increasingly popular. Many people commute into Palmerston North or Whanganui for work, shopping or entertainment.
The region includes the west coast beaches which are popular for swimming, fishing, boating and other water sports, as well as the bush clad Tararua ranges, popular for tramping and walking. The region also offers a range of adventure tourism activities including white water rafting.
Whanganui-Manawatu enjoys a comparatively mild climate with greater extremes inland. In summer the region is warm, with a maximum mid-summer daily average of between 20-23°C.
In the winter the minimum mid-winter daily average for coastal areas (including Whanganui) is 4-8°C, while inland areas including Palmerston North are considerably colder.
Information sourced from https://www.live-work.immigration.govt.nz/