The what’s what of Wellington real estate in 2016

So by now you’ve surely heard about Wellington’s real estate boom. Since last year, the property market has skyrocketed and working-class suburbs are seeing rewards like never before.

So what are some of the most in-demand addresses?

Rongotai’s median value rose 25.5% (or $125,650), while Kilbirnie, Newtown, Kingston and Newlands all made the top five with a jump of over 20% in median values, with first-home buyers accounting for 34% of sales in these areas.

Seatoun, Oriental Bay, Karaka Bays and Roseneath have all flown past the million-dollar-median mark, with Kelburn just around the corner.

All of these real estate transactions mean a whole lot of work behind-the-scenes to get everything sorted and make sure it all checks out. When it comes to tender documents, we haven’t seen urgency like this since 2007/2008, as many are trying to get in on the market while they can.

In our next post, we’ll give you some of our top tips on how to keep a cool head in this hot market.