Wellington: Simply Steady

Even during the Depression of the 1930s, Wellington real estate prices did not shift substantially downwards. And that was a time when the government of the day cut civil servants’ salaries.

Being the capital city, there is usually enough activity from the government sector to keep prices reasonably stable. So, with the recent downturn in the national real estate market, the Wellington region’s nudge downward has been only slight.

The most recent Real Estate Institute figures show a slight easing of prices over the month of September – down from a median of $381,050 to $380,000.

The breakdown of figures around the region was: