Authored by the expert who managed and guided the team behind the New Zealand Property Pack
Yes, the analysis of Wellington's property market is included in our pack
If you're a foreigner thinking about buying an apartment in Wellington, the real question isn't just "what's the price tag" but "what will it actually cost me to own this place?"
Wellington apartments come with their own set of rules, from earthquake ratings that affect your insurance to body corporate fees that can quietly drain your budget.
This guide breaks down everything you need to know about apartment prices, closing costs, and ongoing expenses in Wellington as of January 2026, and we constantly update this blog post to keep the information fresh.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Wellington.
Insights
- Wellington apartments typically cost around NZ$8,800 per square meter on average, but inner-city areas like Te Aro and Mount Victoria can push past NZ$12,000 per square meter.
- New Zealand has no stamp duty, which means your closing costs in Wellington stay between 1.2% and 2.2% of the purchase price, significantly lower than many countries.
- Body corporate fees in Wellington range from NZ$4,000 to NZ$10,000 per year, but older buildings with earthquake strengthening needs can push this above NZ$15,000 annually.
- The Reserve Bank's LVR rules mean most owner-occupiers need a 20% deposit, but foreign buyers without strong NZ income often need 30% to 40% or more.
- Wellington's cheapest apartment neighborhoods like Johnsonville and Kilbirnie offer prices around NZ$6,500 to NZ$9,000 per square meter, roughly half the cost of premium waterfront areas.
- New-build apartments in Wellington command a 10% to 18% premium over resale apartments, though older buildings with low earthquake ratings can be deceptively cheap upfront but expensive to hold.
- Most overseas buyers cannot legally purchase residential property in New Zealand unless they qualify as ordinarily resident or obtain special consent from the Overseas Investment Office.
- Council rates in Wellington typically run between NZ$2,800 and NZ$4,200 per year, which is your main recurring local government cost since there's no US-style property tax.
How much do apartments really cost in Wellington in 2026?
What's the average and median apartment price in Wellington in 2026?
As of January 2026, the median apartment price in Wellington sits around NZ$650,000 (roughly US$370,000 or €345,000), while the average climbs to about NZ$720,000 (US$410,000 or €380,000) because luxury penthouses and premium waterfront units pull the number up.
When you look at price per square meter, Wellington apartments typically come in around NZ$8,800 per square meter (US$5,000 or €4,650 per square meter), which works out to about NZ$820 per square foot (US$465 or €435 per square foot).
The typical price range that covers most standard apartments in Wellington falls between NZ$450,000 and NZ$900,000 (US$255,000 to US$510,000, or €240,000 to €475,000), though inner-city and premium locations regularly exceed this band.
How much is a studio apartment in Wellington in 2026?
As of January 2026, a typical studio apartment in Wellington costs around NZ$390,000 (approximately US$220,000 or €205,000), though this can vary significantly based on the building's earthquake rating and location.
Entry-level to mid-range studio apartments in Wellington generally fall between NZ$330,000 and NZ$400,000 (US$190,000 to US$230,000, or €175,000 to €210,000), while high-end or well-located studios in Te Aro or Mount Victoria can reach NZ$450,000 or more (US$255,000 or €240,000).
Studios in Wellington typically measure between 30 and 40 square meters, which is fairly standard for New Zealand cities but worth noting since body corporate fees and insurance costs apply regardless of your unit's small footprint.
How much is a one-bedroom apartment in Wellington in 2026?
As of January 2026, a typical one-bedroom apartment in Wellington costs around NZ$520,000 (approximately US$295,000 or €275,000), making it the most common entry point for first-time apartment buyers in the city.
Entry-level to mid-range one-bedroom apartments in Wellington typically range from NZ$450,000 to NZ$550,000 (US$255,000 to US$315,000, or €240,000 to €290,000), while high-end one-bedroom units in premium locations like Mount Victoria or the waterfront fringe can reach NZ$650,000 or higher (US$370,000 or €345,000).
One-bedroom apartments in Wellington usually measure between 45 and 60 square meters, giving you enough space for comfortable living while keeping body corporate levies more manageable than larger units.
How much is a two-bedroom apartment in Wellington in 2026?
As of January 2026, a typical two-bedroom apartment in Wellington costs around NZ$730,000 (approximately US$415,000 or €385,000), which represents the most common size for couples and small families looking to stay in the city center.
Entry-level to mid-range two-bedroom apartments in Wellington typically range from NZ$620,000 to NZ$750,000 (US$350,000 to US$425,000, or €330,000 to €400,000), while high-end two-bedroom units in premium locations or newer buildings can reach NZ$880,000 or more (US$500,000 or €465,000).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Wellington.
How much is a three-bedroom apartment in Wellington in 2026?
As of January 2026, a typical three-bedroom apartment in Wellington costs around NZ$980,000 (approximately US$560,000 or €520,000), though these larger units are relatively rare in the Wellington apartment market.
Entry-level to mid-range three-bedroom apartments in Wellington typically range from NZ$850,000 to NZ$1,000,000 (US$485,000 to US$570,000, or €450,000 to €530,000), while high-end or luxury three-bedroom apartments in premium buildings can reach NZ$1,250,000 or more (US$710,000 or €660,000).
Three-bedroom apartments in Wellington usually measure between 90 and 120 square meters, and because larger units are disproportionately concentrated in premium developments, the average price gets pulled up significantly compared to smaller apartments.
What's the price gap between new and resale apartments in Wellington in 2026?
As of January 2026, new-build apartments in Wellington typically cost about 10% to 18% more than comparable resale apartments, though this gap can shift dramatically depending on the older building's earthquake rating and maintenance status.
New-build apartments in Wellington generally price around NZ$9,700 to NZ$10,400 per square meter (US$5,500 to US$5,900, or €5,100 to €5,500 per square meter), reflecting modern construction standards and fresh building warranties.
Resale apartments in Wellington typically come in around NZ$8,200 to NZ$8,800 per square meter (US$4,650 to US$5,000, or €4,350 to €4,650 per square meter), but buildings with weaker earthquake ratings or upcoming strengthening work can appear cheaper upfront while costing more to hold through higher body corporate levies and insurance.
Make a profitable investment in Wellington
Better information leads to better decisions. Save time and money. Download our guide.
Can I afford to buy in Wellington in 2026?
What's the typical total budget (all-in) to buy an apartment in Wellington in 2026?
As of January 2026, a typical all-in budget to buy a standard apartment in Wellington ranges from about NZ$535,000 to NZ$770,000 (US$305,000 to US$440,000, or €285,000 to €410,000), depending on the apartment size, which includes the purchase price plus all buyer costs.
Beyond the purchase price, your all-in budget in Wellington needs to cover legal and conveyancing fees, building inspections, a LIM report from council, valuation costs if you're getting a mortgage, body corporate document review, and settlement disbursements, though the good news is New Zealand has no stamp duty.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Wellington property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Wellington.
What down payment is typical to buy in Wellington in 2026?
As of January 2026, a typical down payment for an apartment in Wellington is around 20% for owner-occupiers, which means roughly NZ$130,000 (US$74,000 or €69,000) on a median-priced apartment, though foreign buyers often need 30% to 40% or more.
Most banks in Wellington require a minimum deposit of 20% for owner-occupiers under the Reserve Bank's LVR restrictions, with limited lending available at lower deposits, and investors typically need at least 30% down.
To secure the most favorable mortgage terms and interest rates in Wellington, a deposit of 20% or higher is recommended, and having more than 20% can give you better negotiating power and access to a wider range of loan products.
You can also read our latest update about mortgage and interest rates in New Zealand.
We made this infographic to show you how property prices in New Zealand compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Wellington in 2026?
How much does the price per m² for apartments vary by neighborhood in Wellington in 2026?
As of January 2026, the price per square meter for apartments in Wellington ranges from about NZ$6,500 to NZ$13,000 (US$3,700 to US$7,400, or €3,450 to €6,900) depending on the neighborhood, which represents a nearly two-fold difference between the cheapest and most expensive areas.
The most affordable Wellington neighborhoods for apartments include Johnsonville at around NZ$6,500 to NZ$7,800 per square meter (US$3,700 to US$4,450 or €3,450 to €4,150), Newtown at NZ$7,000 to NZ$8,500 per square meter (US$4,000 to US$4,850 or €3,700 to €4,500), and Kilbirnie at NZ$7,000 to NZ$9,000 per square meter (US$4,000 to US$5,100 or €3,700 to €4,750).
The most expensive Wellington neighborhoods for apartments include Mount Victoria at around NZ$10,000 to NZ$13,000 per square meter (US$5,700 to US$7,400 or €5,300 to €6,900), Te Aro at NZ$9,500 to NZ$12,500 per square meter (US$5,400 to US$7,100 or €5,050 to €6,600), and Oriental Bay at NZ$10,500 or more per square meter (US$6,000+ or €5,550+).
By the way, we've written a blog article detailing what are the current best areas to invest in property in Wellington.
What neighborhoods are best for first-time buyers on a budget in Wellington in 2026?
As of January 2026, the top three neighborhoods best suited for first-time buyers on a budget in Wellington are Newtown, Kilbirnie, and Johnsonville, which all offer more affordable entry points while still providing good access to the city.
In these budget-friendly Wellington neighborhoods, typical apartment prices range from NZ$400,000 to NZ$600,000 (US$230,000 to US$340,000, or €210,000 to €320,000), making them realistic targets for buyers who want to stay close to the city center without paying premium prices.
These neighborhoods offer solid amenities including public transport links, local shops and cafes, and in the case of Newtown, proximity to Wellington Hospital and the university area, while Kilbirnie provides a retail hub and Johnsonville has ongoing redevelopment bringing new housing stock.
The main trade-off of buying in these budget-friendly Wellington neighborhoods is that you may be further from the waterfront and central business district, and some older buildings may have earthquake strengthening concerns that require careful due diligence before purchase.
Which neighborhoods have the fastest-rising apartment prices in Wellington in 2026?
As of January 2026, the top three neighborhoods with the fastest-rising apartment prices in Wellington are Johnsonville, Kilbirnie, and Newtown, which are all experiencing increased buyer interest as people seek more affordable alternatives to premium central suburbs.
These fast-appreciating Wellington neighborhoods have seen estimated year-over-year price growth of around 3% to 6%, though apartment sales volumes can be low enough that these figures should be treated as directional rather than precise.
The main driver behind the rapid price growth in these Wellington neighborhoods is a combination of new medium-density housing development, improved transport connections, and buyers trading down from more expensive suburbs like Mount Victoria and Te Aro while still wanting to stay within the Wellington urban area.
You can also read our latest update about property price forecasts in Wellington.
Don't lose money on your property in Wellington
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What extra costs will I pay on top of the apartment price in Wellington in 2026?
What are all the buyer closing costs when you buy an apartment in Wellington?
The estimated total buyer closing cost for a typical apartment purchase in Wellington ranges from about NZ$8,000 to NZ$15,000 (US$4,550 to US$8,550, or €4,250 to €8,000) for most transactions, though overseas buyers needing consent may pay more.
The main categories of closing costs buyers must pay in Wellington include legal and conveyancing fees, building inspection costs, a LIM report from the council, bank valuation fees if you're getting a mortgage, body corporate document review, and settlement disbursements for LINZ registration.
Legal and conveyancing fees are typically the largest closing cost expense for buyers in Wellington, usually running between NZ$2,000 and NZ$4,000 depending on the complexity of the transaction and whether you're also setting up a mortgage.
Some closing costs in Wellington are negotiable or can vary, particularly legal fees which depend on your choice of solicitor, and you may be able to reduce building inspection costs if the body corporate has recent reports available, though we recommend always getting your own independent inspection for apartments.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Wellington?
The estimated typical percentage that buyers should budget for closing costs in Wellington is around 1.5% to 2% of the purchase price, which is relatively low compared to many countries because New Zealand abolished stamp duty decades ago.
The realistic low-to-high percentage range for closing costs in most standard Wellington apartment transactions falls between 1.2% and 2.2%, with the lower end applying to straightforward cash purchases and the higher end covering mortgage transactions with full due diligence, though overseas buyers requiring Overseas Investment Office consent may need to budget up to 2.5% to 4% on smaller purchases.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Wellington.
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 ongoing monthly and yearly costs of an apartment in Wellington in 2026?
What are typical HOA fees in Wellington right now?
In Wellington, what Americans call HOA fees are known as body corporate levies, and as of January 2026, a typical apartment owner pays around NZ$5,000 per year (approximately US$2,850 or €2,650), or about NZ$415 per month (US$235 or €220).
Body corporate levies in Wellington can range quite widely from about NZ$4,000 per year (US$2,275 or €2,100) for basic buildings with few amenities, up to NZ$10,000 to NZ$15,000 or more per year (US$5,700 to US$8,550, or €5,300 to €7,950) for buildings with lifts, concierge services, pools, or those with high insurance costs due to earthquake-related factors.
What utilities should I budget monthly in Wellington right now?
The estimated total monthly utility cost for a typical apartment in Wellington is around NZ$300 to NZ$400 (US$170 to US$230, or €160 to €210), covering electricity, internet, and mobile phone for one to two adults.
Depending on apartment size and usage, monthly utility costs in Wellington can range from about NZ$250 (US$140 or €130) for a small, energy-efficient unit to NZ$450 or more (US$255 or €240) for a larger apartment with higher electricity needs during winter.
The typical monthly utility budget in Wellington includes electricity at around NZ$150 to NZ$220 per month, internet at NZ$70 to NZ$110 per month, and mobile phone at NZ$30 to NZ$60 per person per month, while water is often bundled into council rates or body corporate arrangements depending on the building.
Electricity tends to be the most expensive utility for apartment owners in Wellington, especially during the cooler months when heating is needed, and this cost can vary significantly depending on the apartment's insulation quality and whether it has double glazing.
How much is property tax on apartments in Wellington?
The estimated typical annual property tax for an apartment in Wellington, which is called council rates in New Zealand, is around NZ$3,000 to NZ$3,500 per year (approximately US$1,700 to US$2,000, or €1,600 to €1,850).
Council rates in Wellington are calculated based on your property's capital value as assessed by the city council, with the rate set annually by Wellington City Council to fund local services including water, rubbish collection, and infrastructure maintenance.
Depending on your apartment's value, annual council rates in Wellington can range from about NZ$2,800 (US$1,600 or €1,500) for a lower-value unit to NZ$4,200 or more (US$2,400 or €2,200) for a higher-value apartment in a premium location.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Wellington.
What's the yearly building maintenance cost in Wellington?
The estimated typical yearly building maintenance cost for apartment owners in Wellington is largely covered through your body corporate levies, though you should budget an additional NZ$500 to NZ$1,500 per year (US$285 to US$855, or €265 to €795) for inside-the-unit upkeep like appliances and minor repairs.
Yearly maintenance costs in Wellington can range more widely depending on building age and type, with newer buildings typically requiring less owner-funded maintenance while older buildings, especially those with earthquake strengthening needs, may face special levies of several thousand to tens of thousands of dollars per unit.
Building maintenance costs in Wellington typically cover common area repairs, lift servicing, exterior painting and upkeep, building insurance, and contributions to a long-term maintenance fund, all of which are pooled and paid through your regular body corporate levies.
In Wellington apartments, most routine building maintenance costs are included in your body corporate fees, but special levies for major works like earthquake strengthening, facade repairs, or weathertightness remediation are charged separately and can be substantial, which is why checking the body corporate minutes and long-term maintenance plan before you buy is so important.
How much does home insurance cost in Wellington?
The estimated typical annual home insurance cost for an apartment in Wellington is around NZ$400 to NZ$700 per year (approximately US$230 to US$400, or €210 to €370) for contents insurance, since building insurance is usually included in your body corporate levy.
Depending on coverage level and the value of your belongings, annual contents insurance costs in Wellington can range from about NZ$350 (US$200 or €185) for basic cover with higher excess, up to NZ$900 or more (US$510 or €475) for comprehensive cover on higher-value contents with lower excess.
For apartment owners in Wellington, building insurance is typically mandatory and arranged collectively through the body corporate, while contents insurance is technically optional but strongly recommended given earthquake and other natural hazard risks in the region.
Get fresh and reliable information about the market in Wellington
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Wellington, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Toitū Te Whenua LINZ | Official NZ land agency that administers overseas investment rules. | We used it to explain when foreigners can buy apartments in Wellington. We also used it to outline consent requirements and associated costs. |
| Immigration New Zealand | Government's official guidance for newcomers buying property. | We used it to verify common purchase costs in New Zealand. We also used it to confirm how building insurance works in apartment body corporates. |
| Reserve Bank of New Zealand | The banking regulator that sets nationwide mortgage lending rules. | We used it to explain typical deposit requirements in Wellington. We also used it to translate LVR rules into practical deposit ranges for buyers. |
| RBNZ LVR Easing Announcement | Official announcement with exact lending thresholds and dates. | We used it to establish the early 2026 lending context. We also used it to support our recommended deposit percentages. |
| Stats NZ | New Zealand's national statistics agency for official property data. | We used it to ground our article in official NZ data infrastructure. We also used it to verify that private indexes align with official figures. |
| Te Tūāpapa Kura Kāinga (HUD) | Housing ministry's dashboard for local affordability indicators. | We used it to add affordability context beyond just sale prices. We also used it to triangulate Wellington market signals. |
| Cotality (CoreLogic NZ) PropertyValue | Major NZ property analytics provider used by banks and valuers. | We used it as a backbone reference for Wellington-wide values. We also used it to keep city-level estimates consistent with mainstream indexes. |
| Trade Me Property | NZ's dominant property marketplace with structured market statistics. | We used it to cross-check suburb-level price signals. We also used it to calibrate apartment price ranges against observed suburb snapshots. |
| realestate.co.nz | Major NZ listings portal with consistent suburb metrics. | We used it to triangulate neighborhood pricing claims independently. We also used it to avoid relying on a single dataset for comparisons. |
| Bayleys Real Estate | Large national brokerage with listings disclosing real running costs. | We used it as a real-world example of body corporate and rates costs. We also used it to sanity-check our typical annual cost ranges. |
| Unit Titles Services | Government portal explaining unit title ownership and buyer protections. | We used it to explain what body corporate fees cover in Wellington. We also used it to highlight special levy risks in older buildings. |
| HUD Unit Titles Act Overview | Official summary of the law governing apartment ownership in NZ. | We used it to explain why disclosure statements matter when buying. We also used it to support our pre-purchase checklist recommendations. |
| Natural Hazards Commission (Toka Tū Ake) | Public insurer for NZ natural hazards, central to home insurance. | We used it to explain what's embedded in insurance premiums. We also used it to tailor insurance guidance to Wellington's earthquake context. |
| Electricity Authority | Sector regulator publishing regionally comparable electricity prices. | We used it to anchor electricity budgeting with official data. We also used it to keep utility estimates realistic for Wellington. |
| MBIE Energy Monitoring | Government's energy data series using sales-based monitoring. | We used it as a second anchor for electricity costs through triangulation. We also used it to avoid relying on crowdsourced utility estimates. |
| New Zealand Legislation | Official legislation site confirming NZ has no stamp duty. | We used it to support the statement that NZ has no stamp duty. We also used it to focus budgeting on costs that NZ actually charges. |
| Wellington City Council | Local authority that sets and explains council rates in Wellington. | We used it to explain how rates fund local services. We also used it to provide context for annual council rate costs. |
| Opes Partners | Property investment advisory with detailed Wellington suburb data. | We used it to verify neighborhood price variations across Wellington. We also used it to identify premium versus budget suburb pricing patterns. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of New Zealand. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Related blog posts