Prices across the district are largely similar to where they were in January last year, as most have moved no more than 3% in either direction, data from CoreLogicNZ shows.
Oamaru and Omarama were the exceptions — Oamaru experienced a more than 5% decline and Omarama had a 3.16% increase.
Despite most prices returning to where they were last year, real estate agents said they were seeing more properties for sale and more interest from buyers.
LJ Hooker Oamaru principal Stephen Robertson said the interest from out-of-town buyers had doubled since last year.
There was also an increase in first-home and investment buyers.
"We’re starting to see recovery at the moment, with an increased volume of sales and more competition coming in from the buyer, which means pushing prices up.
"The investors are reacting to the policy changes of the bright line being reduced to two years and the full tax deductibility back on to properties."
LJ Hooker was also seeing a seasonal increase in the number of properties for sale.
Harcourts Oamaru sales manager Jack Townsend agreed there had been an increase in investors looking at Waitaki’s property market since the new government.
Of the district’s eight suburbs, only Kakanui, Weston and Omarama have had median property price increases during the past two years. However, Kakanui and Weston rose less than 1%.
Omarama has consistently had the highest median house price in Waitaki within the timeframe, peaking late last year when prices reached an average of $618,850.
Last month, the median had fallen to $595,150.
Weston and Kakanui have also been among the most expensive towns in Waitaki.
Both increased during last year, but have since had a nearly 5% and 7% decline, respectively.
Last month Kakanui was sitting at $554,800 and Weston $562,400.
Hampden has remained the cheapest area in which to buy.
It had a median price of $400,200 at the start of last year and $398,950 last month.
Oamaru has had the biggest decline during the past two years.
The median for last month was $415,150, a decline of more than 5% compared with January last year.
Since the start of last year, Oamaru North has also had a decline after it reached $479,200 in September last year. It has now dropped 8% to $441,300.