Monthly Archives: November 2014

Market report September 2014

The median price for the Wellington region rose by $10,000 (+2.6%) compared to August, with prices rising in Hutt Valley and Pukerua Bay/Tawa, but falling across the rest of the region. Compared to September 2013 the median price also rose $2,500 (+0.6%) with Hutt Valley again seeing the largest increase with 13.3%.

The number of days to sell improved by one day compared to August, from 41 days in August to 40 days in September.
Compared to September 2013 the number of days to sell eased by 10 days. Over the past 10 years the median number of days to sell in September has averaged 34 days across the region.
Compared to August sales volumes rose 12.5% across the region, with sales up 33% in Upper Hutt, 32% in Eastern Wellington, 31% in Western Wellington and 27% in Southern Wellington. Compared to September 2013, sales volumes
fell 7%, with sales down 40% in Eastern Wellington, 27% in Northern Wellington and 15% in Western Wellington.

The trend in the median price continues to ease, although the volume trend is now falling. The days to sell trend is also now falling, with the overall trend for the Wellington region continuing to ease.

 

Sep-14 Aug-14 Sep-13 Sep-14 Aug-14 Sep-13
Upper Hutt $297,000 $348,000 $332,500 65 49 74
Hutt Valley $374,000 $330,000 $313,500 123 107 120
Northern Wellington $460,000 $460,000 $464,000 63 60 86
Central Wellington $485,000 $469,250 $488,500 50 54 38
Eastern Wellington $571,000 $631,500 $595,000 29 22 48
Western Wellington $500,000 $630,000 $520,000 34 26 40
Southern Wellington $550,000 $539,500 $551,000 33 26 19
Pukerua Bay / Tawa $395,000 $415,000 $392,000 63 65 74
Wellington $400,000 $397,500 $390,000 587 522 632