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Northern Suburbs House Market info

Submitted by admin on Tue, 10/20/2009 - 00:39.

Updated 12th February 2010

 

Northern Suburbs of Wellington

Monthly house market data

 

 

Jan saw a slight dip in selling prices but overall average sale prices are on the bounce back as demand works to increase the pressure on buyers at the coalface. Multiple offer scenarios are expected on tidy, well marketed homes through out the Northern Suburbs. 

 


 

January failed to fire with relatively few sales echoing the housing market nationwide . As a result, the average time to sell rose sharply with homes that came on to the market late last year sitting throughout January. Bad weather, extended holidays, and economic uncertainty are reasons given for the lack of activity. 



 

 

  

The number of sales (turnover) has certainly been much healthier in the last eight months, almost doubling the turnover for the same time last year and beating the 2007 turnover figures for the winter months also. But January saw a slump in sales.

 

 Average rent trends for Johnsonville - Newlands to end Dec 09

Rentals are still rising for bigger family homes but is easing slightly for two and three bedroom homes in the Johnsonville/Newlands area reflecting the time of the year and also the renewed interest in property buying by first home buyers.

 


 

 

North and West Wellington - Average rents per week by Suburb and number of bedrooms - Jan 2010

 

Suburb two bedrooms three bedrooms four bedrooms
Tawa/Grenada Nth 298 362 421
Jville/Newlands 323 388 488
Khandallah 391 500 576
Ngaio/Wilton 361 463 524
Wadestown/Thorndon 470 538 574
Karori 387 491 567
Northland 414 462 528

 

 

This statistical info has been summarized from the Real Estate Institute monthly sales data and tenancy services.

 

While I have attempted to be as accurate as possible, I cannot vouch for any of the information represented and , therefore, won't take any responsibility for any inaccuracies.