Across the Wellington region median prices climbed from $627,000 in March 2019 to $711,000 in March 2020. The South Wairarapa District saw a new record median price, hitting the $700,000 mark for the first time. South Wairarapa is increasingly becoming more popular which is likely to be contributing to the increase in property values and new listings (up 8.7% annually) in the area. Although new listings were down 20.8% annually in Wellington, they have increased in the Wairarapa area. Looking to the wider region many people continue to be attracted and interested in the value of Lower Hutt and Upper Hutt areas which generally have lower priced properties. Sales were down 12.7% (109 less sales than this time last year), the lowest March sales count in 9 years since March 2011. Over the next month or so we will start to see more agencies use virtual tools to assist with viewings until we are able to recommence open homes.

 

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