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Porirua Market Update

The median price in Wellington is sitting at $930,000, up 7.1% from April last year. Once again, we are seeing a year-on-year increase of stock levels – up 157.4% – however new listings have decreased by 1.4%. With more choices available, buyers are being more particular with their purchase decisions, and therefore properties are spending longer on the market. This figure has increased 6 days from March 2022, reaching an average of 48 days on the market. Generally, April is a quiet time of year for the Wellington region, which may have further contributed to the slowing of the market.

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