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  1. #1
    Member
    Join Date
    May 2015
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    118

    Default Wellington Property Market

    HI Guys,

    Looking at making a move to Wellington this year and wondering of the best areas in terms of value/investment. Just looking for any tips on what to look for? Also if there is any history to be aware of as far as leaky, or poor workmanship unique to Wellington.

    Thanks in advance.

  2. #2
    Senior Member
    Join Date
    Jul 2015
    Location
    Auckland
    Posts
    619

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    unique to wellington:
    - Most importantly, depending on which side of a hill you are on, your house may only get a few hours of sun - in which case it will be cold and damp
    - Be aware of high wind areas

    Avoid the hutt. Gangs.

    Most houses in Wellington are pretty poorly built (damp, leaky, poor drainage, earthquake damaged, etc). The market seems to be going up lots even over the past year. Rental demand is very high (I've been told).

    As usually, check the traffic going to work and coming home during rush hour. This may rule out some areas or make some more favorable. All development is happening in the north (Tawa), which will put extra strain on the road coming in, in the future.

    Nice areas:
    - Churton Park
    - Khandallah (regarded as the richest suburb) through to Karori (with Karori, note that houses nearer to the upper area are colder, I'm told)
    - Places North of Tawa

    OK areas:
    - Johnsonville

    Bad areas:
    - Lower Hutt
    - Upper Hutt
    - Parts of Petone
    - Tawa

    Obviously, as with all of NZ, there are good and bad in each area. I don't know the areas around the city very well.

    best of luck - its a great place to live.

  3. #3
    Senior Member
    Join Date
    Feb 2011
    Location
    Wellington
    Posts
    1,491

    Default

    Quote Originally Posted by Lewylewylewy View Post
    unique to wellington:
    - Most importantly, depending on which side of a hill you are on, your house may only get a few hours of sun - in which case it will be cold and damp
    - Be aware of high wind areas

    Avoid the hutt. Gangs.

    Most houses in Wellington are pretty poorly built (damp, leaky, poor drainage, earthquake damaged, etc). The market seems to be going up lots even over the past year. Rental demand is very high (I've been told).

    As usually, check the traffic going to work and coming home during rush hour. This may rule out some areas or make some more favorable. All development is happening in the north (Tawa), which will put extra strain on the road coming in, in the future.

    Nice areas:
    - Churton Park
    - Khandallah (regarded as the richest suburb) through to Karori (with Karori, note that houses nearer to the upper area are colder, I'm told)
    - Places North of Tawa

    OK areas:
    - Johnsonville

    Bad areas:
    - Lower Hutt
    - Upper Hutt
    - Parts of Petone
    - Tawa

    Obviously, as with all of NZ, there are good and bad in each area. I don't know the areas around the city very well.

    best of luck - its a great place to live.
    Hi NQ,
    Thought as a Wellingtonian I better correct some of this post .If you want someone to show you around when you are down happy to do that PM me.
    As always it would probably be best to maybe move here and rent for 6 months to a year to see what you like ,what works for you etc .
    We have our share of leaky buildings/houses here so beware of monolithic cladding .
    We have a reasonable public transport system compared to some places , so consider that when choosing your location.
    As for the judgements on areas, Khandallah richest suburb ( yeah right ) maybe people thought that in the 70's when it was still in the zone for Wellington College but as you will see from the attached links ( outdated but the trend is still intact) if it ever was it has been surpassed by many areas..
    Oriental Bay,Roseneath,Mount Victoria,Kelburn ,Seatoun,Eastbourne. Plus some pretty high priced inner city apartments.
    I think it is true as with all places there are good and bad in each area , but Petone is on a real charge at the moment, as is Lower Hutt, people are finding it hard to afford to rent in Wellington City.
    https://www.stuff.co.nz/life-style/h...al-estate-boom
    https://www.stuff.co.nz/dominion-pos...-property-club
    https://www.stuff.co.nz/business/pro...stings-plummet

    Cheers

    S/L

  4. #4
    Update Ready To Install
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    Aug 2010
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    Floating Anchor Shoals
    Posts
    6,576

    Default

    Anywhere close to Manners st, Cuba st is brilliant investment imo. Short walk to nearly everything, wonderful culture and arts, waterfront etc . Will always be a sort after location in demand. Luckily for me i have relatives there.

  5. #5
    Senior Member Valuegrowth's Avatar
    Join Date
    Jun 2013
    Posts
    1,081

    Default

    Will the high house prices and unaffordable rent damage businesses and the economy? I have seen students and some employees are struggling to pay rents in many countries which include New Zealand. They have to spend less for their other needs. Further increase in house prices and rent could lead to another crisis.

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