Let’s talk Wellington:
“In August, the Wellington region remained active and saw an increase in median prices to $720,000, up 12.8% on last year. The Lower Hutt District and Upper Hutt District also achieved record median prices of $670,000 and $663,200 respectively. The REINZ House Price Index also achieved a new high of 3,065, up 11.6% annually. Wellington had the highest August sales count (766) since August 2006. New listings were up in Wellington by 27% and they also increased significantly by 91.2% in the Wairarapa, compared to the same time last year. The low interest rates, wage subsidies and continued buyer demand is likely to have contributed to the increase in sales and house prices in the region. There is a real mix of first home buyers and investors attending open homes. There has been more demand for apartments in Wellington Central as well as demand for homes in the outer suburbs for people who want to move out of the city after spending lots of time in a small apartment during the lockdown period. With only 6 weeks of total inventory available, hopefully more listings will come onto the market in the next couple of months.”

Click HERE to Download the Full REINZ Report and graphs for all of New Zealand

Click HERE to Download the Full REINZ Report and graphs for all of New Zealand