Feature article
Wellington property market update: Pōneke is finding its groove
More listings, easing rents, and a market quietly building momentum.
AI summary
The Wellington property market is showing steady, confident growth. The average asking price is $849,300, a modest 1% annual increase, indicating stability.
Buyers benefit from healthy stock levels, with suburbs like Karori, Tawa, and Wainuiomata seeing strong listing growth. For sellers, properties with a "garage" or "home and income" potential are in high demand.
The rental market favours tenants, with average weekly rents down 4.9% year-on-year to $666, creating 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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