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 quiet confidence with steady, purposeful growth. The average asking price is now $849,300, a modest 1% year-on-year increase, while a healthy number of new listings gives buyers more choice.
For sellers, practicality is key, with "garage" and "home and income" being the top search terms for Pōneke buyers.
The rental market currently favours tenants, with average weekly rents down 4.9% year-on-year to $666, creating a more 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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