Feature article
Wellington property market update: Pōneke is finding its groove
More listings, easing rents, and a market quietly building momentum.
AI summary
Wellington's property market is showing steady growth, with the average asking price at $849,300. Buyers have more choice, with strong listing growth in suburbs like Karori, Tawa, and Wainuiomata.
For sellers, practicality is key; top search terms include "garage" and "home and income," highlighting demand for utility and mortgage assistance.
The rental market favours tenants, with the average weekly rent down 4.9% year-on-year to $666, making it a competitive environment for landlords.
| Value | MoM% | YoY% | |||||
|---|---|---|---|---|---|---|---|
| Average Asking Price | Average Asking Price | $849,300 | $849,300 | +12.20% | +12.20% | +1.00% | +1.00% |
| Average Weekly Rent | Average Weekly Rent | $666 | $666 | +0.70% | +0.70% | -4.90% | -4.90% |
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For homeowners: Tracking your equity
The rental market: Wins for tenants
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