What's happening in the Wellington property market...
Values across the whole Wellington Region rose 8.2% in the year to March and 2.6% over the past quarter and the average value is now $644,567.
Wellington City values increased 7.2% year on year and 1.5% over the past three months and the average value there is now $768,108. Meanwhile values in Upper Hutt rose 9.1% year on year and 2.8% over the past three months; Lower Hutt rose 7.2% year on year and 1.5% over the past quarter; Porirua rose 7.4% year on year and 1.6% over the past quarter and Kapiti Coast saw the greatest annual increase in the region with values there rising 13.8% year on year and 0.7% over the past three months.
QV Wellington Senior Consultant, David Cornford said, “There is still plenty of activity in the Wellington market though value growth continues to slow and it feels like we are starting to enter a period of stable property values after a couple of years of strong growth.”
“There is strong demand for property under the $700K mark and in particular for anything under $500K as first home buyers are a strong presence in the market in suburbs such as Porirua and the Hutt Valley where you can still find homes in this price bracket.”
“First home buyers are very active in the market, particularly in the Hutt Valley and Porirua where many are taking advantage of the Kiwisaver HomeStart grant, capped at $500,000 for existing dwellings and $550,000 for new dwellings. This segment of the market there is particularly strong”.
“Well-presented and located homes continue to attract a good amount of attention and are selling well and there is solid demand for vacant land and new builds.”
“The investor market remains relatively flat due to higher deposit requirements, lower promise of capital growth now prices are stabilising and the Healthy Homes Bill on the horizon”.
If you're thinking of selling now may be the best time - get in touch for expert advice and a free no-obligation appraisal of your property.
Resource: www.qv.co.nz...
Poll: If we want to reduce speeding, what do you think actually changes driver behaviour? 🛻🚨🚓
In the Post's article on speeding penalties, the question is asked whether speeding fines are truly about road safety, or are they just a way to boost revenue for the Crown?
What do you think? Should speeding motorists receive speeding fines or demerit points?
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37.3% The sting of a fine (Money talks!)
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62.7% The threat of demerit points (Nobody wants to lose their license!)
Scam Alert: Bank cold calls
ASB is warning customers about reports of cold calls from scammers claiming to be from ASB. These scammers are trying to obtain personal information, including usernames, dates of birth, and verification codes sent to your mobile phone.
🛡️ The "Caller Check" Test
If you get a call from someone claiming to be from ASB and you’re unsure, just ask them for a Caller Check. You will then be able to verify the call through the app.
Remember, banks will:
❌ Never ask for your banking passwords, PINs, or verification codes
❌ Never need to know your full credit card number – especially the CVC
❌ Never ask you to download software or remotely access your device
❌ Never ask you to purchase gift cards or transfer funds.
If you have received a phone call and think your account has been compromised, call ASB on 0800 ASB FRAUD (0800 272 372), or visit your local branch.
Some Choice News!
DOC is rolling out a new tool to help figure out what to tackle first when it comes to protecting our threatened species and the things putting them at risk.
Why does this matter? As Nikki Macdonald from The Post points out, we’re a country with around 4,400 threatened species. With limited time and funding, conservation has always meant making tough calls about what gets attention first.
For the first time, DOC has put real numbers around what it would take to do everything needed to properly safeguard our unique natural environment. The new BioInvest tool shows the scale of the challenge: 310,177 actions across 28,007 sites.
Now that we can see the full picture, it brings the big question into focus: how much do we, as Kiwis, truly value protecting nature — and what are we prepared to invest to make it happen?
We hope this brings a smile!
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