Capital price gains

The Wellington region’s average asking price climbed 12.3% on last year to reach a record $593,250 in September, according to the latest Trade Me Property Price Index.

While Wellington City’s average asking price rose by 8.5% year-on-year to hit $700,400, it was other areas of the region which saw the biggest annual price growth.

Masterton saw a 20% jump in average asking price to $408,850, Upper Hutt climbed 15.5% to $538,500 and Lower Hutt was up 10.4 by to $559,300 in September.

Head of Trade Me Property Nigel Jeffries says the Wellington property market isn’t showing any sign of slowing down.