Wellington

You could get ahead of the Wellington market and into your new home sooner with one of Wellington's ‘Hidden Gems'.

 

Popular Suburbs in Wellington

We’ve picked out some of the fastest selling suburbs in Wellington* and identified which up and coming suburbs could help get you into your new home sooner.

Popular Rank* Popular Suburb Median House Sale Price** Hidden Gem Suburb Median House Sale Price $ Savings % Savings You could be debt free***
2 ALICETOWN $473,000 MAUNGARAKI $388,500 $84,500 22% 8 years sooner
3 NGAIO $539,500 BROADMEADOWS $450,000 $89,500 20% 7 years 7 months sooner
4 LYALL BAY $575,000 MELROSE $510,000 $65,000 13% 5 years 6 months sooner
5 PETONE $471,000 KOROKORO $420,000 $51,000 12% 5 years 3 months sooner
6 WOBURN $561,000 ALICETOWN $473,000 $88,000 19% 7 years 3 months sooner
7 WILTON $556,625 KARORI $497,750 $58,875 12% 5 years 1 month sooner
8 HUTT CENTRAL $515,444 EPUNI $416,000 $99,444 24% 8 years 6 months sooner
CHURTON PARK $464,000 GRENADA VILLAGE $405,000 $59,000 15% 6 years 1 month sooner
10 JOHNSONVILLE $432,500 NEWLANDS $388,000 $44,500 11% 5 years 1 month sooner
16 KHANDALLAH $629,300 NGAIO $539,500 $89,800 17% 6 years 7 months sooner
19 KELBURN $672,000 NORTHLAND $497,500 $174,500 35% 10 years 8 months sooner
21 PLIMMERTON $453,657 PUKERUA BAY $373,500 $80,157 21% 7 years 10 months sooner

 

 

*‘Popular Rank’ is based on the average days on the market for all sales in the ‘Popular Suburb’ during the 12 month period Oct 2012-Sept 2013.

**‘Median House Sale Prices’ are calculated by Data Insight NZ using Real Estate Institute New Zealand sales data. Medians are based on residential dwellings only and covers some suburbs in Wellington, Porirua, Lower Hutt and Upper Hutt Territorial Local Authority (TLA)  where the median house sale price for 3 bedroom residential dwellings is above the overall TLA median. Medians are for 3 bedroom properties, taken from 12 months of sales from Oct 2012 - Sep 2013. Suburbs with <10 sales of 3 bedroom residential dwellings are excluded.

***Calculations have been made using Westpac’s two year fixed rate as at 6 November 2013 (being interest rate 5.95% p.a.) for a term of 25 years.

‘Hidden Gem Suburbs’ are taken from suburbs which physically border the ‘Popular Suburb’. Comparisons included are where the difference in the ‘Median House Sales Price’ exceeds 10%.

The report is for general information purposes only and should not be relied on. Westpac recommends you seek independent property advice.

What’s hot?

We’ve also mapped out the Residential Median Sales Price across Wellington suburbs. If you’re unsure which area of Wellington you can afford to buy, this map is a good place to start. Click on the map to enlarge.

 Wellington heat map

 

 

 

 

 

 

 

 

 

 

 

 

 
 

Calculators to manage your home loan

Whether you’re a seasoned home buyer or you’re looking to enter the property market for the first time, we’ve got a full range of calculators to help get the best out of your home loan, whatever your situation.

Can you afford the place you've got your eye on? What's the best way to structure your home loan and what would the mortgage repayments be? How much you could save in interest by adjusting the frequency of repayments? Our range of easy-to-use calculators can help you find the answers, click here

 

 

 

Auckland Residential Median Sale Prices are calculated by Data Insight NZ using Real Estate Institute New Zealand sales data. Auckland Residential Median Sales Prices are based on residential dwellings only and cover all suburbs in Auckland Territorial Local Authority (TLA) where the median house sales price for 3 bedroom residential dwellings is above the overall TLA median. Medians are for 3 bedroom properties, taken from 12 months of market sales from Oct 2012 - Sep 2013. Suburbs with <10 sales of 3 bedroom residential dwellings are excluded.

The report is for general information purposes only and should not be relied on. Westpac recommends you seek independent property advice.