“The Wellington region saw a new record median price of $785,000 in October 2020, up 20.8% from the same time last year. This was bolstered by an uplift in the number of $1 million plus properties sold across the region. Sales volumes are flat from the same time last year with 750 properties sold during the month. The Wellington region saw a decrease of -9.6% in new listings in October with 684 properties coming to the market. This has left the region with one of the lowest levels of inventory across the country at just 6 weeks. Properties are selling quickly with days to sell down 3 days from the same time last year to 26 days – the lowest for an October month since 2006. The ‘fear of missing out’ is influencing these quick sales and we expect this pressure will continue in a similar manner over the coming months as demand continues to outstrip supply.”

Below is the Wellington region report and graphs.

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

WELLINGTON-REINZ Monthly Property Report - October 2020







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