Wellington has the fastest growing property values in NZ
Wellington’s property values recorded the fastest growth out of the main centres in 2020, with prices rising as the capital’s housing stock plumbs the lowest level in decades.
Over the coming year, the average property price for Wellington would cross the $1 million mark, said Nicki Cruickshank, a real estate agent with Tommy’s Wellington. “You can't really get a three-bedroom house in Wellington under $1m now, anyway.”
Porirua City experienced a 20.8 per cent annual growth in residential property values, Lower Hutt and Upper Hutt cities both experienced 17.2 per cent growth, and Kāpiti Coast 18.3 per cent.
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