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Wellington's $2 million suburbs: Exclusive parts of the city see big valuation jump


Wellington is trying to prepare for a projected population explosion, in a city desperately short of housing.
Wellington now has two $2 million suburbs, as property valuations in exclusive parts of the city jump significantly – bucking a national trend which has seen affordable” homes attract the largest growth in capital gains in the past few months.
The average house in the seaside suburb of Oriental Bay/Roseneath is worth $2,190,324 and properties in Seatoun are valued at about $2,054,674, the latest analysis from Quotable Value (QV) shows.
Oriental Bay/Roseneath became part of the $2m club at the end of the March quarter, and Seatoun caught up in the past month. ....

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Housing market slowdown predicted despite huge growth in Wellington region's property prices


Monique Ford/Stuff
House prices in the Wellington region increase 23.7 per cent over the last 12 months. CoreLogic is predicting the market to slow in the near future.
Relief for house buyers in the Wellington region’s booming property market could be on the horizon with signs of a slowdown beginning to show, says CoreLogic.
Tax changes to interest deductibility are predicted to slow the market and could eventually result in it flattening says the property analytics provider’s head of research, Nick Goodall​.
CoreLogic’s forecast will be welcome news to buyers across the Wellington region where the average property value reached $971,393, an increase of 23.7 per cent in the 12 months to April 1, while places like the Auckland area had a smaller growth of 15.6 per cent. ....

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