PROPERTY MARKET
WELLINGTON
+$44pw
12 MONTH RENTAL TREND
55
DAYS TO SELL
+1.2%
12 MONTH PRICE TREND
$895,000
MEDIAN PRICE
WELLINGTON
Population: 419,000 (2021)
Forecast Population: 423,800 (2028) and 449,100 (2038) source Statistics New Zealand
$ Medium Price: $895,200 (Source REINZ May 22)
12 Month Pricing Trend: +1.2% (Source REINZ May 22)
12 Month Rent Trend: +$44 p/w (3 brm)
Tertiary Education:
University of Victoria, Massey University Wellington Campus, Otago University Medical School, Wellington Institute of Technology, Wellington Open Polytechnic.
Industries:
Film & Media, Government Sector, Tertiary Education, Logistics and Freight and I.T.
Wellington is made up of several distinct markets; The inner city and CBD apartment market, West Wellington is popular with owner/ occupiers with low investor yields; South Wellington is popular as it is coastal with many beaches, popular with tenants; North Wellington including Johnsonville and Tawa – this is slightly further out with high demand for first home buyers and tenants.
There is genuine growth and potential here with a stable and secure environment, strong employment, and good income levels. Wellington is a robust investment contender due to its resilience across all economies regardless of the wider NZ economy.