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, confident growth. The average asking price is $849,300, with buyers benefiting from healthy stock levels, particularly in suburbs like Karori and Tawa.
For sellers, practicality is key; "garage" and "home and income" are the top search terms, highlighting a demand for properties that help manage mortgage costs.
The rental market currently favours tenants, with average weekly rents down to $666. This creates a competitive environment for landlords, where presentation and realistic pricing are essential.
| 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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