What is the average house price in Wellington?

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Yes, the analysis of Wellington's property market is included in our pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Wellington. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the New Zealand real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Wellington, Auckland, and Christchurch. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

What's the current average house price in Wellington?

The current average house price in Wellington stands at $956,548 as of September 2025, representing a significant buying opportunity following the market correction from 2021 peaks.

The median price for all properties across the Wellington Region is $795,000, while Wellington City specifically shows a median of $860,000. This represents approximately a 25% decline from the 2021 market peak, creating favorable conditions for buyers entering the market.

The broader Wellington region shows even more affordable options, with a median of $760,000, demonstrating substantial long-term growth potential given this figure was $395,000 just ten years earlier. This translates to an average annual growth rate of 6.8% over the past decade, indicating the market's strong fundamentals despite recent corrections.

Market activity has stabilized after annual falls of 6.5% over the past year, with early indicators suggesting the market has found its bottom. Property sales are taking an average of 45 days, slightly longer than historical norms, but inventory levels are providing buyers with excellent selection and negotiating power.

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How do prices differ between apartments, townhouses, and standalone houses?

Standalone houses demonstrate the strongest price performance and stability in Wellington's current market, with 62% of suburbs showing flat or rising values in recent months.

Townhouses present a more mixed performance landscape, with only 54% of suburbs displaying stable or rising prices, and just 16% experiencing growth above 2%. This softer performance reflects increased supply from new developments and changing buyer preferences toward standalone properties with more space and privacy.

Apartments, particularly in Wellington's CBD, face the most challenging conditions due to oversupply issues and evolving demand patterns influenced by remote work trends. However, premium apartment units with quality amenities and desirable locations continue to hold their value better than standard offerings.

Property Type	Price Range	Market Performance
1-2 Bedroom Apartments	$420,000 - $600,000	Oversupply pressure, CBD most affected
3-4 Bedroom Townhouses	$800,000 - $1.2M	Mixed performance, new supply impact
Standalone Houses (Family)	$900,000 - $1.2M	Strongest stability, 62% suburbs rising
Premium Standalone	$1.2M - $2.2M+	Premium locations maintain value
Luxury Properties	$2M+	High-end market remains resilient

Which areas of Wellington are the most expensive, which are more affordable, and which ones are considered up-and-coming?

Seatoun represents Wellington's most expensive suburb with properties averaging $1,689,850, followed closely by Oriental Bay at $2.11 million for premium waterfront living.

**Most Expensive Areas:**1. Seatoun - $1,689,850 (coastal premium, established prestige)2. Oriental Bay - $2.11M (harbor views, central location)3. Kelburn - $1.49M (university proximity, views)4. Karaka Bays - $1.52M (exclusive waterfront)5. Roseneath - $1.43M (harbor access, character homes)**Most Affordable Areas:**1. Wellington Central - $422,350-$430,900 (apartments, urban living)2. Upper Hutt suburbs - $540,000-$730,000 (family value)3. Lower Hutt areas - $650,000-$880,000 (suburban lifestyle)4. Masterton - $540,000-$730,000 (regional opportunity)5. Newtown - $600,000-$900,000 (inner-city character)**Up-and-Coming Areas:**1. Porirua - $680,000 (14% year-on-year growth, infrastructure development)2. Newtown/Miramar - $600,000-$900,000 (value-add renovation opportunities)3. Johnsonville - $970,000 (renewed family interest, transport links)4. Stokes Valley - 2.9% growth (fastest in Lower Hutt)5. Totara Park - 3% growth (fastest in Upper Hutt)

Recovery zones including Southgate, Te Aro, and Mount Victoria show 1-3% recent growth, particularly attracting young buyers seeking central locations with character properties.

How do prices vary depending on property size and land area?

Property size and land area create significant price variations across Wellington, with larger standalone homes on substantial land commanding premium prices while compact apartments offer entry-level opportunities.

One to two-bedroom apartments typically range from $420,000 to $600,000, with CBD units offering the lowest price per square meter despite oversupply concerns. These properties appeal primarily to investors seeking rental yields and first-home buyers requiring minimal maintenance.

Three to four-bedroom townhouses and standalone homes in city and suburban areas command $800,000 to $1.2 million, with premium suburbs pushing prices higher. These properties represent the sweet spot for family buyers and investors seeking stable capital growth potential.

Larger standalone houses featuring five bedrooms or land areas exceeding 1,000 square meters range from $1.0 to $2.2 million, with premium locations exceeding this range significantly. These properties attract buyers seeking lifestyle benefits, substantial land holdings, and long-term capital appreciation in established neighborhoods.

Land area premiums become particularly pronounced in sought-after suburbs where development restrictions limit supply, creating additional value for properties with generous sections suitable for future development or family lifestyle benefits.

What's the total cost of buying a property once you include taxes, legal fees, and additional charges?

The total cost of buying property in Wellington extends well beyond the purchase price, with additional expenses typically adding $15,000 to $25,000 for most transactions.

**Essential Buying Costs:**1. **Deposit:** 20% of purchase price (though lower deposits possible with additional costs)2. **Legal fees:** $2,000-$3,000 average, potentially higher for complex transactions3. **LIM report/building inspection/valuation:** $300-$1,500 combined4. **Loan arrangement fees:** $0-$900 depending on lender5. **Moving costs, insurance setup, maintenance reserves:** Allow minimum $5,000

Government bright-line tax considerations apply if you sell within 2, 5, or 10 years depending on current regulations, making this crucial for investment property planning. Council rates generally range from $2,000 to $5,000 annually depending on property value and location.

For a typical $900,000 Wellington purchase, buyers should budget approximately $180,000 for the deposit plus $20,000 for transaction costs, totaling around $200,000 in upfront expenses before accessing financing for the remaining $720,000.

First-home buyer grants and assistance programs may reduce some costs, making it essential to investigate available support schemes before finalizing purchase plans.

How much would a typical mortgage cost per month for an average property in Wellington?

Monthly mortgage payments for typical Wellington properties currently range from $3,750 to $4,200 based on average loan sizes and current interest rates as of September 2025.

The average mortgage size for Wellington buyers sits around $650,000 to $700,000, approximately 13% higher than the national average of $588,558. This reflects Wellington's position as New Zealand's capital city with correspondingly higher property values and income levels.

Current interest rates hover around 4.99% for two-year fixed terms, with potential variations of 0.5% to 1% higher for borrowers with deposits below 20%. Using a $700,000 mortgage at 4.99% over 30 years, monthly principal and interest payments total approximately $3,750.

Additional monthly costs include rates ($165-$415 monthly), insurance ($100-$200), and maintenance reserves ($200-$400), bringing total monthly housing costs to $4,200-$4,800 for owner-occupiers. These figures assume standard lending criteria and don't include potential mortgage insurance for low-deposit loans.

Buyers should also consider that debt-to-income ratios are increasingly scrutinized by lenders, with most requiring total debt not exceed 6-7 times annual household income, affecting borrowing capacity regardless of deposit size.

What are some real-life examples of recent purchase prices across different suburbs?

Recent Wellington property transactions demonstrate the diverse price ranges across different suburbs and property types, providing concrete examples for potential buyers.

A two-bedroom apartment in Kelburn recently sold for $525,000 for a 60-square-meter unit, illustrating the premium paid for proximity to Victoria University and harbor views. This represents approximately $8,750 per square meter, reflecting Kelburn's desirability among professionals and investors.

Family houses in popular suburbs like Karori and Johnsonville typically transact between $900,000 and $1.2 million as of July 2025. These properties generally offer three to four bedrooms with reasonable land areas, appealing to families seeking quality schools and community amenities.

Central Wellington one-bedroom apartments show a median of $430,900, providing entry-level opportunities for first-home buyers and investors. These properties often feature modern amenities and proximity to employment centers, though potential buyers should consider oversupply risks in this segment.

Regional areas offer compelling value, with Upper Hutt averaging $725,456 and Lower Hutt ranging from $650,000 to $880,000. These areas provide larger properties and family-friendly environments while maintaining reasonable commuting access to Wellington's employment centers.

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How have house prices changed over the last 5 years and over the past year?

Wellington's property market has experienced dramatic fluctuations over recent years, with exceptional growth followed by significant corrections creating today's buying opportunities.

Over the five-year period from 2019 to 2024, Wellington Region property prices averaged 6.8% annual growth, demonstrating the market's strong long-term fundamentals despite recent volatility. This growth rate exceeded most other investments and reflected Wellington's position as New Zealand's capital with steady employment and population growth.

The past year tells a different story, with Wellington median prices falling 6.5% as the market corrected from unsustainable 2021 peaks. This 25% decline from 2021 highs represents one of the most significant property market corrections in Wellington's modern history.

However, recent months show stabilization signs, with select suburbs like Kelburn, Eastbourne, Southgate, and Mount Victoria recording 2-4% growth over the last three months. This suggests the market may have found its bottom and begun recovery in desirable locations with strong fundamentals.

The correction has primarily affected overvalued segments, particularly apartments and townhouses in oversupplied areas, while quality standalone houses in established suburbs have demonstrated greater resilience throughout the downturn.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in New Zealand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What are the price forecasts for 1 year, 5 years, and 10 years from now?

Wellington property price forecasts suggest a return to moderate growth following the recent market correction, with most analysts predicting steady appreciation resuming in 2026.

One-year forecasts to September 2026 predict growth between 3% and 7%, with a median expectation of 6.8% growth as the market recovers from its current bottom. This forecast reflects improving affordability, potential interest rate reductions, and renewed investor confidence as policy settings stabilize.

Five-year projections suggest Wellington will return to historical growth patterns of 4-5% annually once the current correction fully resolves. This timeframe allows for economic stabilization, population growth resumption, and infrastructure development benefits to materialize, supporting sustainable price appreciation.

Ten-year forecasts indicate Wellington prices may not reach their 2021 peak until approximately 2031, providing a realistic timeline for full market recovery. Beyond this point, analysts expect resumed long-term growth driven by Wellington's role as New Zealand's capital, limited land supply, and ongoing urbanization trends.

These forecasts assume stable economic conditions, continued population growth, and no major policy disruptions. Factors like climate change adaptation, infrastructure investment, and remote work adoption may influence actual outcomes, particularly for different property types and locations.

How does Wellington compare to other similar-sized cities in terms of average house prices?

Wellington's median house price of $795,000 positions it competitively among New Zealand's major centers, offering better value than some markets while commanding premiums over others.

City	Median Price	Comparison to Wellington
Auckland	$1,000,000	26% more expensive than Wellington
Queenstown	$1,520,000	91% more expensive than Wellington
Tauranga	$920,000	16% more expensive than Wellington
Wellington	$795,000	Base comparison
Hamilton	$785,000	1% less expensive than Wellington
Christchurch	$698,000	12% less expensive than Wellington
Dunedin	$620,000	22% less expensive than Wellington

Wellington's pricing reflects its unique position as New Zealand's capital city, offering government employment stability, cultural amenities, and compact urban living that commands premiums over purely residential centers like Hamilton or Christchurch.

Compared to tourism-driven markets like Queenstown or economically dominant Auckland, Wellington provides more accessible entry points while maintaining strong long-term growth prospects supported by its governmental and professional services economy.

What are the smartest buying choices right now if you want to live in the property, rent it out short-term or long-term, or resell later for a profit?

Current market conditions create distinct opportunities depending on investment strategy, with standalone houses offering the best overall value across multiple objectives.

**Owner-Occupier Strategy:**Quality standalone houses or well-positioned townhouses in undervalued city suburbs like Newtown, Miramar, and Karori provide excellent owner-occupier opportunities. These areas offer character, convenience, and potential for capital appreciation as the market recovers. Alternatively, lifestyle properties in Upper Hutt, Lower Hutt, and Porirua deliver larger homes with land at accessible prices.**Short-Term Rental Strategy:**Central city apartments with yields of 5-6% present compelling short-term rental opportunities, particularly those targeting business travelers and government visitors. Student accommodation near Victoria University also offers strong rental potential. Focus on properties with quality amenities and easy access to transport and attractions.**Long-Term Rental Strategy:**Family houses in growth suburbs with proximity to quality schools and transport links provide steady long-term rental returns averaging 4.2%. Target areas like Johnsonville, Karori, and emerging suburbs with infrastructure development planned. These properties appeal to stable tenant demographics seeking quality family living.**Resale Strategy:**Seek currently undervalued suburbs with confirmed population and infrastructure growth, particularly Porirua and selected eastern and southern suburbs. Budget for 3-5 years minimum holding period to capture substantial capital growth as these areas develop and market conditions improve.

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What are the top opportunities and risks today for buyers in the Wellington market?

Wellington's property market in September 2025 presents exceptional opportunities for well-positioned buyers, balanced against specific risks requiring careful consideration.

**Top Opportunities:**1. **Market Bottom Timing:** Prices near historical lows after 25% correction, creating excellent entry points2. **Interest Rate Relief:** Declining rates improving affordability and borrowing capacity3. **Undervalued Suburbs:** Quality areas like Porirua showing 14% growth with infrastructure development4. **Policy Support:** Return of investor-friendly policies including interest deductibility and favorable capital gains treatment5. **Rising Rental Yields:** Income returns becoming increasingly competitive as prices stabilize**Key Risks:**1. **Employment Uncertainty:** Government sector job security concerns potentially dampening demand2. **Inventory Levels:** Large property supply with 45+ day median sales periods indicating continued buyer market3. **Oversupply Pressures:** New builds and apartments facing supply pressures in certain market segments4. **Lending Restrictions:** Debt-to-income limits may constrain future price appreciation, particularly affecting low-deposit buyers5. **Short-term Volatility:** Potential for minor additional price declines before full market recovery

The balance clearly favors buyers in the current environment, with strong fundamentals supporting medium to long-term growth while immediate risks remain manageable for buyers with appropriate financing and realistic timelines. Standalone houses in established suburbs offer the best risk-adjusted returns, while investors should exercise caution in oversupplied apartment markets.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Opes Partners - Wellington Property Market
2. BambooRoutes - Wellington Price Forecasts
3. Opes Partners - Wellington City Market
4. Good Returns - Townhouse Market Analysis
5. Open Expert - Most Expensive Wellington Suburbs
6. Lowe & Co - Wellington Suburb Analysis
7. Canstar - Average Home Loan New Zealand
8. OneRoof - House Price Report August 2025