PROPERTY MARKETS

Wellington

Genuine growth potential in a stable and secure environment with strong employment and income levels, means Wellington must be on the radar of any serious investor.

From technology and digital creativity, to primary industry and food production, the economy is diverse and export-focused. Partly thanks to the government sector, the Wellington economy is more resilient than the rest of the New Zealand's economy, and more able to withstand shocks such as falling commodity prices.

Days to Sell

52

Median Price

$737,000

12 Mo Price Trend

-8.9%

Median Rent

+4.7% p/w (3br)

Last updated: August 2023. Sources: Tenancy Services & REINZ.

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Wellington at a glance

Population	506,814 (2018 Census)
Forecast Population	538,500 (2033) and 548,400 (2043), source Statistics New Zealand
Tertiary Education	University of Victoria Massey University Wellington Campus Otago University Medical School Wellington Institute of Technology Wellington Open Polytechnic
Main Industries	Film and Media, Government Sector, Tertiary Education, Logistics and Freight, IT
Ports and Rail	Centreport Wellington
Air	International Airport
Public Transport	Metlink for bus and train services. Interislander and Bluebridge ferry services to Picton

Suburbs in Wellington

Wellington City

Inner Suburbs - Wellington Central is dominated by apartments and new developments are starting to come through. Just outside central is Te Aro which also has some apartments, townhouses and a lot of older properties (circa 1900). These attract professional tenants and some students. The prime areas for student rentals are Kelburn, Aro Valley and Newtown. Always in hot demand and are generally rented from Feb-Feb every year. Mount Victoria is a high capital gains suburb right next to the entertainment hub, Courtenay Place. Yields are typically very low here and properties are also very old. They do attract young professionals mainly and some students.
CBD Apartment Market - Very strong market and a number of new developments are about to commence. Oriental Bay apartments can top $3M but closer to Courtenay place you can get some good value apartments that attract young professionals and students. Dual-Key apartments are proving to be very popular and represent a good yield. Also has appeal for AirBnB renting. Be careful of buildings earthqauke rating and any water tightness issues on older apartments.
West Wellington - Around the aiport there are very popular suburbs with home buyers. These include Kilbirnie, Rongotai and Miramar. Miramar is very popular as Weta Workshop operate there. Through the tunnel is Seatoun, a very sought after suburb. Prices are quite high and yields are low.
South Wellington - Very popular with families and also beach activities, especially surfing and wind surfing. Lyall Bay is closest to the water and a little further towards the city is Berhampore. Island Bay is another area near the beach. These are very strong demand areas for rental accomodation.
North Wellington - Heading north of the city and up State Highway 1, you come across Khandallah, Johnsonville, Newlands and then Tawa. Houses generally become cheaper the further you go out, and all areas have high demand with tenants. Johnsonville has become very hard to buy in for first home buyers so they are moving further North (and also over to the Hutt).

Porirua and Kapiti Coast<

Porirua City is a mixed area and contains a lot of state housing. Houses are generally much cheaper here and in good demand. If buying in Porirua, be sure to check the area out well and also the street.
Porirua Area there is sought after seaside villages such as Plimmerton and Pukerua Bay, "up and coming" areas like Titahi Bay and big new subdivisions with large family homes such as Whitby and Aotea.
Kapiti Coast - Further North lies Paraparaumu, Waikane and then Otaki. These are experiencing tremendous growth as major roading projects will make commuting to Wellington much faster. This is also a popular area for retirees and the beaches are safe and sought after. Weather is generally warmer than Wellington and the commute is around 40 minutes to the Wellington CBD.

Hutt Valley and Wainuiomata

Central Hutt - Is very popular for families and renters. It is also an expensive area with nice houses close to the CBD. Just north, is Epuni, Avalon, Taita and Naenae. The prices generally drop the further north you go. Taita and Naenae has more state housing, so be sure to do your due diligence if buying in this popular rental area. Further North is Stokes Valley which is a popular area for families and good rental demand. Know your streets, Central Hutt can represent great value... or a property that is a nightmare to manage.
Petone - Close to the beach and the city, this area is very popular with families and rental yields are generally low.
Western Hills - Very popular with families and can represent some good buying. Be careful of the aspect and sun.
Wainuiomata - Just over the eastern hill is this popular suburb. It has it's own micro climate and is very popular with young families as well as renters. This area represents great value for first home buyers as well but some streets are best avoided. Parkvale is the most popular and expensive area in Wainuiomata. Again, sun is important.

Upper Hutt

Further North of Lower Hutt is the popular catchment of Upper Hutt. This area has experienced steady growth for a number of years now and can represent good buying for investors and home buyers. New Zealand Defence Force also have a presence in the area.

About Wellington

Wellington, along with Auckland has the highest GDP in New Zealand - more than half of employment in Wellington is based in medium and high-skilled work.

How to Invest in Wellington

iFindProperty is a licensed real estate agency and we cover all of the Wellington region. We believe we are the best in the business at helping others buy, or sell, Wellington Investment Properties.

Premium Buyers Service: For serious buyers only. Engage an iFindProperty expert to secure you a great investment that meets your criteria. Limited spaces available.
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For Vendors

iFindProperty runs a full-service property sales operation. Work with an agent who understands property investment and how to market your property to other investors, in a way that doesn't upset your tenants!

Please contact Peter below or enquire through our website.

The Wellington Team

Peter Ambrose

Licensed Salesperson
REAA 2008

Send an email

021 225 5753

"[iFindProperty] was without a doubt the help I needed to secure my first two investment properties. She navigated me through the realms of the property market and has taught me a great deal about due diligence and adding value. She has given me confidence and motivated me to keep my finger on the pulse of the property world, so I can build my portfolio."
- Andrew Thorne

"We really enjoyed working with Peter to purchase our first investment property and learned a lot through the process. We're planning an extensive renovation to increase the yield and wouldn't have purchased this type of property if it wasn't for Peter's help. His enthusiasm for property investment and experience in the Wellington market were clear from the beginning. Peter was always available to talk through any questions or concerns we had throughout the search and due diligence process, and was very patient as we decided which of two houses to pursue. When it came time to put an offer in, Peter's up-to-date market knowledge helped us come up with a price that would be competitive in a hot and fast moving market"
- Sarah and Dave

"Buying a property was a lot easier with Peter on our side. We would highly recommend Peter and his team to our friends and family, and we will definitely be getting Peter to find our next investment property."
- James Wu

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