No stopping Capital price rises

This month’s Trade Me Property Price Index has the region’s average asking price in August up by 9.1%, or $52,550, to $632,300 over the last 12 months.

Looking at different parts of the region, average asking prices in Wellington (up 10.4% to $756,300), Porirua (up 10% to $706,200), Upper Hutt (up 9.6% to $564,800) and Lower Hutt (up 7.7% to $584,750) all grew strongly.

Head of Trade Me Property Nigel Jeffries says Wellington property prices experienced some rapid growth in the last three years and there are no signs that they’ll be slowing any time soon.

“With prices falling in Auckland, all eyes are now on the Wellington property market which is seeing some phenomenal price growth and giving homeowners plenty of reasons to smile.”