Wellington Property Market and Real Estate Guide

(Wellington, North Island, New Zealand NZ)

Image of central WellingtonWellington has the finest setting and urban make up of the three big New Zealand cities, with its positioning over a natural harbour. It is the country capital with a population of over 400,000 in the area at large and falls between Auckland and Christchurch, both geographically and in the value of its property.

The city of Wellington lies right at the southwestern tip of the North Island and has a lot more character and appeal than larger Auckland, which is to the north. Property is strewn across a hillside overlooking the sea and many homes are Victorian structures. Services, attractions, entertainment, and the cost of living here are all good.

The capital sees some of the highest property price rises of any large city in New Zealand and therefore purchasing property here is a good investment. Prices differ depending on the area of the city, and there are many central neighbourhoods and suburbs, including the CBD and the Waterfront. Eastern Wellington is the most expensive area in which to buy property, followed by Central Wellington, Northern Wellington and Hutt Valley.

Renting Serviced Apartments

Wellington is the top New Zealand city, after Auckland, for serviced apartments. The built-up city centre area has the best of them including those within Courtenay Place and the Golden Mile, while the waterfront area is also a good bet. Head to Eastbourne for fine beaches and harbours.

You can expect to pay handsomely renting serviced apartments in these areas of Wellington, making buying-to-let a good option for those looking to turn a profit. Most serviced apartments come with all mod cons and fully fitted kitchens, along with TV, wireless Internet, parking and weekly cleaning.

Buying Apartments and Houses

Apartments are more expensive to buy per square metre than houses in Wellington, plus rental yields work out to be quite low if you are looking to buy-to-let. New Zealand does not impose any stamp duties and sellers pay the real estate agent fees.

The only costs to the buyer are the registration fee - usually less than 0.5 percent - and the lawyer's fees. Expats can buy property in New Zealand without restriction.

Real Estate Agents

Wellington is loaded with real estate agents, all of which must be licensed and have a duty to protect buyers and sellers. That said, some are better than others and it is worth shopping around. A good start in finding a prospective real estate agent in Wellington is to check out agents' portfolios online.

See the following Wellington real estate agents:

Bayleys Real Estate Ltd
Address: The Bayleys Building, Corner of Brandon Street and Lambton Quay, Wellington, New Zealand
Tel: +64 (0)4 499 6044
Email: enquiries@bayleyswgtnres.co.nz
Website: www.bayleys.co.nz
Bayleys is the main real estate agent in New Zealand and has offices in this city, providing full-service to buyers and sellers.

Gillies and Mark Realty Ltd
Address: 5 Gibbons Street, Upper Hutt, Wellington, 5018, New Zealand
Tel: +64 (0)4 527 2800
Email: upperhutt@gilliesandmark.co.nz
Website: www.gilliesandmark.co.nz
If you are specifically looking to buy or rent in the Upper Hutt part of Wellington, Gillies and Mark Realty Ltd has the biggest share of this area on its books.

Apartments in Wellington
Address: Wellington, New Zealand
Tel: +64 (0)4 385 3633
Email: stay@aptsinwgtn.co.nz
Website: www.aptsinwgtn.co.nz
Apartments in Wellington has a fantastic portfolio of serviced apartments in the city centre, including properties at Chews Lane and Chaffers Dock.