Wellington, New Zealand
Property prices · 2024 · Oceania
Property price trend in Wellington (2024–2026)
Property comparison — cities in New Zealand (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Wellington |
|---|---|---|---|---|
| Wellington | NZD 9,800 | NZD 6,500 | NZD 1,900 | — |
| Auckland | NZD 12,500 | NZD 8,200 | NZD 2,200 | +27.6% |
| Christchurch | NZD 7,200 | NZD 4,800 | NZD 1,500 | -26.5% |
Other Oceania cities (2024)
Frequently asked questions
How much does property cost in Wellington in 2024?
In Wellington, the average price per sqm in the city centre is NZD 9,800, and NZD 6,500 outside the centre (2024 data). Prices have risen 7% since 2024.
How much is rent in Wellington in 2024?
A 1-bedroom apartment in Wellington rents for approximately NZD 1,900 per month in 2024. A 3-bedroom apartment costs around NZD 3,500/month.
Is it better to buy or rent in Wellington?
Buying and renting are roughly comparable in Wellington. The price-to-rent ratio is 20.0x — it would take approximately 20.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 6.80%.
What are mortgage rates in New Zealand in 2024?
The average mortgage rate in New Zealand is approximately 6.80% as of 2024. With a price-to-rent ratio of 20.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Wellington?
The average property price per square metre in Wellington city centre is NZD 9,800 in 2024. Outside the centre, expect to pay around NZD 6,500/sqm.