Wallacetown  Wallacetown is a small town in Southland, in the South Island of New Zealand. It has a population of about 400. Wallacetown is to the west of Invercargill, on high ground between the Makarewa and Oreti rivers, near the Oreti's estuary. Both rivers are popular for trout and whitebait fishing. It is considered to be a satellite town of Invercargill.