Shrouded amongst many old trees along Parewanui Road lies the Pukehou homestead, one of the few remaining homes from the early settlement period in the lower Rangitikei district.

In July 1857, eight years after the sale of the Rangitikei block, Scottish settler Duncan Fraser acquired 150 acres of Section 34 from George Adamson, at a price of 75 pounds. Fraser increased the size of his property with two further purchases of land, including Section 34A in 1864 and Section 45 in 1878. Like many other settlers in the area, Fraser gave his estate a Maori name, 'Pukehou', which local residents interpret as 'above the hills' or 'amongst the hills'. As the land is flat, the reason for the name remains unclear.

The first house occupied by the Fraser family at Pukehou was a whare made of clay and thatched with bark and toe-toe. A new house, commonly known as Fraserfield Cottage, was built in the 1850s, and was thought to have been located directly across the road from the current Pukehou homestead. As the Fraser children began reaching adulthood it became apparent that a larger home was needed to accommodate them, and the decision was made to build the current Pukehou house in the 1860s.

The Pukehou homestead was constructed on Section 34 around 1865 by the son in law of Duncan Fraser - Thomas Furner Richardson. The Victorian style villa was of timber construction. It had two rooms on the first level along with a small study which may have been maids' quarters, and five rooms on the second level. It is believed that the larger of the five rooms on the second level was occasionally used as a school room before the Parewanui school was opened in 1879. Attached to the side of the house is what appears to have been the gardener's quarters. This room can only be accessed from the exterior of the house.

Upon the death of Duncan Fraser in 1879, the estate was passed on to Donald Fraser, who further increased the size of the Pukehou property to 3500 acres. In 1918, the year following the death of Donald Fraser, the Pukehou property was subdivided and put up for sale. Lot 4, which included the Pukehou homestead, was purchased in 1919 by Stewart McKenzie. In 1929 the property was transferred to Thomas Andrew, and in 1940 to Samuel Richard Waugh, and then to Clifford Samuel Waugh. The current owners purchased 4.6235 hectares of the Pukehou property in 1973. Pukehou has been well maintained by its present owners and is in excellent condition. Members of the Fraser family continue to visit the house, which is held in high esteem by family members and the local community alike.

The Pukehou homestead is of significance due to its association with the Fraser family and early settlement in the Rangitikei region. The Frasers are one of the best-known families in the Rangitikei region. Duncan and Marjory came to the district in 1852 and were amongst some of the earliest colonists to settle in the lower Rangitikei. Donald Fraser, the third son of Duncan and Marjory, was a well known farmer in the district with a property that was 'renowned for bullock fattening and grain growing.' He was perhaps best known for his reputation as a breeder and association with the Rangitikei Racing Club. Descendants of the Frasers have remained in the area to the present day. Pukehou is an example of a well preserved mid nineteenth century homestead, and provides valuable insight into the lives of pioneer settlers in nineteenth century New Zealand.